Chairman of the Treasury Select Committee, Andrew Tyrie, has decided not to stand for re-election in the upcoming General Election after serving 20 years in the House of Commons.
Tyrie has been chairman of the select committee for seven years, pressing the government and financial regulators on issues ranging from whistleblowing to the funding of the Financial Services Compensation Scheme.
An MP for Chichester since the 1997 General Election, Tyrie has also been involved in other select committees as a Tory backbencher, including the Parliamentary Commission on Banking Standards.
Tyrie said: "It has been an exhilarating twenty years. I have done what I can to make a contribution, particularly in efforts to improve banking standards and to shape a more trusted and resilient financial sector after the crisis of 2008.
"I have also sought to play a part in reviving Parliament's relevance, not least by making the case for select committee chairmen to be elected by their fellow MPs."
He added: "Stronger committees now demand better explanations for the decisions made by ministers, regulators, and quangos than hitherto. I particularly want to thank my colleagues and the staff on the Treasury Committee who have worked with me to drive these changes forward."
He said he remained "deeply committed" to public services and hoped to contribute in others ways in the years ahead.
Financial Conduct Authority chief executive Andrew Bailey said: "I would like to thank Andrew for his contribution to public policy through the Treasury Select Committee and the Parliamentary Commission on Banking Standards. He has played a major role in enhancing the accountability of economic and financial policy at a time of great change."
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