Prominent Conservative MP Andrew Tyrie has announced he will stand down from Parliament at the General Election.

As chairman of the House of Commons Treasury Select Committee, the Chichester MP has been a fierce inquisitor of ministers and financial industry bosses.

A supporter of Remain in last year's EU referendum, he led a forensic investigation by his committee into the claims of Brexit campaigners, which found that both sides were putting out "misleading" numbers to back up their arguments.

Mr Tyrie, 60, has been MP for the constituency since 1997, and his decision to stand down is likely to spark a scramble for the Conservative candidacy in what is one of the party's safest seats, where it took 58 per cent of the vote in 2015.

In a statement, Mr Tyrie said: "I am confident that Theresa May will lead the Conservative Party to a decisive victory at the General Election, and will continue to give the country the strong and effective leadership that she has already shown as Prime Minister.

"I remain deeply committed to public service. I am determined, and hopefully young enough, to contribute in other ways in the years ahead."

He added: "It has been an exhilarating 20 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.

"Stronger committees now demand better explanations for the decisions made by ministers, regulators, and quangos than hitherto."

Mr Tyrie served under Michael Howard as a shadow Treasury spokesman in opposition from 2003-05, but was not appointed to the front bench by David Cameron.

For the bulk of his Commons career, he was a prominent member of the backbench select committees which scrutinise Government activities.