Former prime minister Theresa May has announced she will stand down as an MP at the next general election.
In an exclusive statement to her local paper, Mrs May said she had taken the “difficult decision” to quit the Commons after 27 years representing her Maidenhead constituency.
Image: Theresa May has represented Maidenhead for nearly three decades. Pic: PA
The 67-year-old also pledged her support to Rishi Sunak’s government and said she believed the Conservatives could win the next election.
Politics latest: ‘Pretty good innings’: Minister pays tribute to May as former PM joins Tory exodus
Elected seven times, Mrs May had been the Conservative MP for the Berkshire seat since 1997.
She served as prime minister from 2016 to 2019, having previously held the position of home secretary since 2010.
Mrs May entered Downing Street after David Cameron resigned after the country voted to leave the European Union – something he campaigned against.
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However, the fateful choice of the “new Iron Lady” to call a snap election and the Brexit chaos that followed saw her forced out of the job three years later.
Mrs May’s decision to leave Westminster adds to an exodus that has seen more than 60 Tory MPs say they will not fight their seats at the next election – the highest total since 1997.
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High profile MPs who have said they will quit include former cabinet ministers Ben Wallace, Sajid Javid, Dominic Raab and Kwasi Kwarteng.
In a statement to the Maidenhead Advertiser, the Conservative politician, a vicar’s daughter known for her fashionable footwear, said: “It has been an honour and a privilege to serve everyone in the Maidenhead constituency as the Member of Parliament for the last 27 years.
“Being an MP is about service to one’s constituents and I have always done my best to ensure that I respond to the needs of local people and the local area.
“Since stepping down as prime minister I have enjoyed being a backbencher again and having more time to work for my constituents and champion causes close to my heart including most recently launching a Global Commission on Modern Slavery and Human Trafficking.
“These causes have been taking an increasing amount of my time.
“Because of this, after much careful thought and consideration, I have realised that, looking ahead, I would no longer be able to do my job as an MP in the way I believe is right and my constituents deserve.
“I have therefore taken the difficult decision to stand down at the next general election.”
Image: The 2017 party conference in Manchester ended in humiliation
Pic: Reuters
She added: “I will continue to work hard for all my constituents until the general election.
“As I pass the baton on I will be working with my successor to secure a Conservative victory in Maidenhead. I remain committed to supporting Rishi Sunak and the government and believe that the Conservatives can win the election.
“I would like to thank all those who chose me to represent them as their member of parliament.
“I have always said there is no greater privilege than being an MP; I have served as home secretary and prime minister but none of that would have been possible without the people of Maidenhead and the constituency which I have been proud to call my home.”
Labour Party chairwoman Anneliese Dodds said the number of Tories standing down showed there was “no confidence” in Mr Sunak and the Conservatives electoral prospects.
But Treasury minister Gareth Davies denied this was the case, telling Sky News he was “personally sad” to see Mrs May stand down “after a pretty good innings”, but that it was “completely reasonable” for people to decide to leave parliament ahead of an election.
He said: “Each one has made their own decision for personal reasons and I respect every single person’s decision to do so.”
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Mrs May arrived in Downing Street in 2016, after an uncontested leadership election, faced with the task of bringing together party and country after the traumas of the EU referendum.
But her decision to call an early election in the hope of securing the comfortable majority she needed to implement her Brexit plans ended in disaster.
A poorly received manifesto and hastily withdrawn social care policy, which saw her insist “nothing has changed”, coupled with a robotic campaigning style, saw her deprived her of her slim majority in the Commons and dependent on the Democratic Unionist Party (DUP).
From then on she was engaged in a day-by-day struggle to keep her plans on course and maintain the fragile unity of her government.
That year’s conference in Manchester ended in humiliation as she was handed a P45 by a comedian on stage, lost her voice to a persistent cough and ended her speech with letters falling off the backdrop behind her.
After repeated failed attempts to get her Brexit plans through and with the party in open mutiny, her fate was sealed.
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2019: Theresa May resigns
Nicknamed the Maybot, for rarely revealing her emotions, Mrs May fought back tears as she announced her departure from Number 10 in Ma 2019.
With her voice cracking, she said at the time: “I will shortly leave the job that it has been the honour of my life to hold – the second female prime minister, but certainly not the last.
“I do so with no ill-will, but with enormous and enduring gratitude to have had the opportunity to serve the country I love.”
Unlike many other former prime minister’s, Mrs May remained parliament and active on the backbench, not afraid to criticise the government.
A US judge has granted prediction markets platform Kalshi a temporary reprieve from enforcement after the state of Connecticut sent it a cease and desist order last week for allegedly conducting unlicensed gambling.
The Connecticut Department of Consumer Protection (DCP) sent Kalshi, along with Robinhood and Crypto.com, cease and desist orders on Dec. 2, accusing them of “conducting unlicensed online gambling, more specifically sports wagering, in Connecticut through its online sports event contracts.”
Kalshi sued the DCP a day later, arguing its event contracts “are lawful under federal law” and its platform was subject to the Commodity Futures Trading Commission’s “exclusive jurisdiction,” and filed a motion on Friday to temporarily stop the DCP’s action.
An excerpt from Kalshi’s preliminary injunction motion arguing that the DCP’s action violates federal commodities laws. Source: CourtListener
Connecticut federal court judge Vernon Oliver said in an order on Monday that the DCP must “refrain from taking enforcement action against Kalshi” as the court considers the company’s bid to temporarily stop the regulator.
The order adds that the DCP should file a response to the company by Jan. 9 and Kalshi should file further support for its motion by Jan. 30, with oral arguments for the case to be held in mid-February.
Kalshi does battle with multiple US states
Kalshi is a federally regulated designated contract maker under the CFTC and, in January, began offering contracts nationally that allow bets on the outcome of events such as sports and politics.
Its platform has become hugely popular this year and saw a record $4.54 billion monthly trading volume in November, attracting billions in investments, with Kalshi closing a $1 billion funding round earlier this month at a valuation of $11 billion.
However, multiple US state regulators have taken issue with Kalshi’s offerings, which have led to the company being embroiled in lawsuits over whether it is subject to state-level gambling laws.
Kalshi sued the New York State Gaming Commission in October after the regulator sent a cease and desist order claiming it offered a platform for sports wagering without a license.
In September, Massachusetts’ state attorney general sued Kalshi in state court, which the company asked to be tossed. So far this year, Kalshi has sued state regulators in New Jersey, Nevada, Maryland and Ohio, accusing each of regulatory overreach.
Sir Keir Starmer has called for a tougher approach to policing Europe’s borders ahead of a meeting between leaders to discuss a potential shake-up of the European Convention on Human Rights (ECHR).
The prime minister said the way in which the ECHR is interpreted in courts must be modernised, with critics long claiming the charter is a major barrier to deportations of illegal migrants.
His deputy, David Lammy, will today be in Strasbourg, France, with fellow European ministers to discuss reforms of how the agreement is interpreted in law across the continent.
In an opinion piece for The Guardian, Sir Keir and his Danish counterpart, Mette Frederiksen, said the change was necessary to prevent voters from turning to populist political opponents.
Image: Small boat crossings have risen this year. File pic: PA
What’s the issue with the ECHR?
The ECHR, which is the foundation of Britain’s Human Rights Act, includes the right to family life in its Article 8.
That is often used as grounds to prevent deportations of illegal migrants from the UK.
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There has also been a rise in cases where Article 3 rights, prohibiting torture, were used to halt deportations over claims migrants’ healthcare needs could not be met in their home country, according to the Home Office.
The Conservatives and Reform UK have both said they would leave the ECHR if in power, while the Labour government has insisted it will remain a member of the treaty.
But Sir Keir admitted in his joint op-ed that the “current asylum framework was created for another era”.
“In a world with mass mobility, yesterday’s answers do not work. We will always protect those fleeing war and terror – but the world has changed, and asylum systems must change with it,” the two prime ministers wrote, as they push for a “modernisation of the interpretation” of the ECHR.
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System ‘more than broken’, says asylum seeker
What is happening today?
Mr Lammy is attending an informal summit of the Council of Europe.
He is expected to say: “We must strike a careful balance between individual rights and the public’s interest.
“The definition of ‘family life’ can’t be stretched to prevent the removal of people with no right to remain in the country [and] the threshold of ‘inhuman and degrading treatment’ must be constrained to the most serious issues.”
It is understood that a political declaration signed by the gathered ministers could carry enough weight to directly influence how the European Court of Human Rights interprets the treaty.
The UK government is expected to bring forward its own legislation to change how Article 8 is interpreted in UK courts, and is also considering a re-evaluation of the threshold for Article 3 rights.
Image: David Lammy will swap Westminster for Strasbourg today
The plans have been criticised by Amnesty International UK, which described them as weakening protections.
“Human rights were never meant to be optional or reserved for comfortable and secure times. They were designed to be a compass, our conscience, when the politics of fear and division try to steer us wrong,” Steve Valdez-Symonds, the organisation’s refugee and migrant rights programme director, said.
Sir Keir’s government has already adopted several hardline immigration measures – modelled on those introduced by Ms Federiksen’s Danish government – to decrease the number of migrants crossing the Channel via small boats.
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Beth Rigby: The two big problems with Labour’s asylum plan
Starmer-Macron deal ‘a sticking plaster’
Meanwhile, French far-right leader Jordan Bardella told The Daily Telegraph he would rewrite his country’s border policy to allow British patrol boats to push back small vessels carrying migrants into France’s waters if he were elected.
The National Rally leader called Sir Keir’s “one-in, one-out” agreement with Emmanuel Macron, which includes Britain returning illegal arrivals in exchange for accepting a matching number of legitimate asylum seekers, a “sticking plaster” and “smokescreen”.
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Far-right, 30, and France’s most popular politician
He said that only a complete overhaul of French immigration policy would stop the Channel crossings.
Mr Bardella is currently leading in opinion polls to win the first round of France’s next presidential election, expected to happen in 2027, to replace Mr Macron.
The race for the new US Federal Reserve chair is nearing the finish line, with US President Donald Trump reportedly set to begin interviewing finalists for the top job this week.
According to a report from the Financial Times on Tuesday, Treasury Secretary Scott Bessent has presented a list of four names to the White House.
One of these is former Fed governor Kevin Warsh, whom Bessent is scheduled to meet with on Wednesday. Another is National Economic Council director Kevin Hassett, who is seen as the frontrunner for the role.
Another two names would be picked from a list of other finalists, which includes Fed governors Christopher Waller and Michelle Bowman, and BlackRock chief investment officer Rick Rieder.
Trump and Bessent are expected to hold at least one interview next week, as a decision looks likely to be announced in January.
However, Trump has revealed he already has his eye on one particular candidate.
“We’re going to be looking at a couple different people, but I have a pretty good idea of who I want,” Trump said to journalists on Air Force One on Tuesday.
Kevin Hassett is a frontrunner for Fed chair role
The upcoming round of interviews suggests that Hassett may not be the clear lock in for the role as previously thought, though he is seen as the favorite.
Earlier this month, prediction market odds on Kalshi and Polymarket shot up for Hassett significantly following comments from Trump at the White House on Dec. 2.
While welcoming guests, Trump labeled Hassett as “potential Fed chair” leading many to assume the president had let a major hint slip.
With Hassett’s odds spiking to 85% after Trump’s comments last week, they have since declined to around 73% for Hassett, while Warsh’s odds sit at 13% on Kalshi at the time of writing, which has floated around this range over December.
Regardless of who ends up taking over as chair, the move is bound to impact crypto markets under the new leadership.
If elected, Hassett has asserted that he will be apolitical in terms of running the Fed, despite his close ties to Trump. Speaking with The Wall Street Journal this week, Hassett said that “You just do the right thing” when asked if he would blindly follow orders from Trump.
“Suppose that inflation has gotten from, say, 2.5% to 4%. You can’t cut,” Hassett said, adding that he would rely on his own “judgment, which I think the president trusts.”