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Andrew Tyrie, the Conservative MP and tough interrogator of UK central bankers and the financial services industry, is stepping down at the June election.

In a statement, the chairman of the Commons’ Treasury Select Committee said his time in parliament had been “exhilarating”.

Mr Tyrie, who has been head of the TSC since 2010, added:

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.

Mr Tyrie clashed frequently with Bank of England governor Mark Carney, particularly in relation to the BoE’s warnings over the immediate impact of the vote to leave the EU.

Under his leadership, the TSC also this year claimed the scalp of Charlotte Hogg, who resigned from a new post as deputy governor at the Bank of England after the committee said she had “fallen short of the very high standards required” for the role in failing to disclose her brother’s job at Barclays.

Mr Tyrie has also pressed the government to be more transparent about the terms under which it helped to persuade carmaker Nissan to remain in the UK after Brexit.

A former advisor to ex-Tory chancellor Nigel Lawson and prime minister John Major, Mr Tyrie has been MP for Chichester since 1997. Before entering parliament, he was a senior economist at the European Bank of Reconstruction and Development.

Andrew Bailey, boss of the UK’s Financial Conduct Authority, praised Mr Tyrie for playing “a major role in enhancing the accountability of economic and financial policy at a time of great change”.

Copyright The Financial Times Limited 2017. All rights reserved.
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