George Osborne has refused to rule out a return to public life, either as London mayor or as an MP.

The former Chancellor of the Exchequer, who now edits the London Evening Standard, said he would never say never to a return to Parliament.

Speaking to the Parliamentary Press Gallery, he said: “I don’t rule it out just because you can be foolish to say never to things but it is not what I think I will be doing with my life in the future

“I very much enjoy editing the paper and for me aged 46 having had 20 years in politics I have discovered a new career in life and I am quite enjoying it.”

Asked about running for London mayor, he added: “When I said returning to politics that would include city hall politics.”

Mr Osborne also urged the Chancellor not to risk losing the party’s reputation for tax cuts.

He said: “We sought to try to alleviate the income tax burden on lower middle income families, I was very pleased to see Philip [Hammond], and he was right to continue that pledge in the budget and I think it would be a big mistake for the Conservative party to abandon that."