Nadhim Zahawi becomes the latest Conservative MP to resign in the election

Nadhim Zahawi has become the latest Conservative MP to announce that he will resign at the next election.

With the party expected to face heavy losses in the general election, the former chancellor said the time is right for “a new, energetic Conservative” to take power.

The Stratford-on-Avon MP becomes the 64th Conservative to announce his resignation at the end of this parliament, with the country expected to go to the polls in October or November. Zahawi, who served as chancellor in 2022, was facing a difficult re-election, and polls suggested he was on course to lose the seat, which he has only held for the Conservatives since 1950.

Nadhim Zahawi is the 64th Conservative MP to announce that he will resign in the election (AFP via Getty Images)

In a statement published on X, Zahawi said: “Every morning, as I shave my head in the mirror, I have to pinch myself. How is it possible that a boy from Baghdad who came to these shores, fleeing persecution and unable to speak a word of English, could have done as much as I have?

The MP said it was an immense privilege to have worked in various government roles, including as Education Secretary, Chancellor and Chancellor of the Duchy of Lancaster, during which time he coordinated the funeral of Queen Elizabeth II.

But, quoting William Shakespeare, Zahawi said: “As my most famous constituent once wrote: ‘Go to your bosom; He knocks there and asks your heart what it knows.”

“I have come to feel that the time is right for a new and energetic Conservative to fight for the honor of representing Stratford-on-Avon and taking up the role of Shakespeare MP. Of course, I will serve my constituents with dedication and determination until then.”

Zahawi was sacked while serving as chairman of the Conservative Party after an ethics investigation into the handling of his tax affairs found a “serious breach” of the Ministerial Code. It came after an investigation into his financial affairs that was first revealed by The independent in 2022.

Nadhim Zahawi quoted his most famous elector, William Shakespeare, as saying that “parting is such sweet sorrow.” (PA file)

This newspaper revealed in July that year that HMRC officials were examining the senior Conservative figure’s tax affairs after the National Crime Agency (NCA) launched an investigation in 2020.

He later agreed to pay a seven-figure sum to HM Revenue and Customs (HMRC) to resolve a tax dispute.

In his resignation letter, Zahawi said: “My mistakes have been my own and my successes have come from working with and leading incredible people.”

The 56-year-old was born in Iraq and came to the UK as a child when his Kurdish family fled Saddam Hussein’s regime, before becoming MP for Stratford-upon-Avon in 2010.

Zahawi made his fortune with online polling company YouGov and was also CEO of Gulf Keystone Petroleum until 2018.

Other high-profile Conservatives who resigned at the election include former Prime Minister Theresa May, former Defense Secretary Ben Wallace and former Health Secretary Matt Hancock, who now serves as an independent.