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Boris Johnson says he will remain a supporter of the Tory Party but has not confirmed he will make a comeback ahead of the general election.
The spokesperson for the former Prime Minister said he is currently focusing on "writing and speaking".
It comes amid rumours that Johnson is set to campaign for the Conservatives in red wall seats.
His allies and senior government sources allege that he is "expected to play a significant role" in the election.
However, a spokesman for Johnson said: “Boris Johnson’s focus at the moment is writing and speaking and he is very productively engaged on that.
"His position has been consistently in support of the Conservative Party for his entire political life and that will remain so."
Despite Wednesday's Spring Budget polling published by YouGov for the Times put the Tories 27 points behind Labour - suggesting they received no poll bounce from the fresh measures.
And a poll published on Monday, ahead of the budget, saw the Tories fall to a record low in their approval ratings.
LATEST DEVELOPMENTS:
On Friday, a letter demanding Rishi Sunak step down as Prime Minister was signed by more than 5,000 Tory supporters in just 24 hours.
The Conservative Post, aimed at grassroots Tory members, put up a letter on its site demanding that Sunak quit as party leader and Prime Minister.
Sunak also faces warnings that more Conservative MPs could switch to Reform UK after Lee Anderson made the move.
Taking a swipe at his former party, Anderson said "I’m doing it for my country" as he made his announcement.
Rishi Sunak faces warnings that more Conservative MPs could switch to Reform UK after Lee Anderson made the move
PAThe latest Redfield & Wilton Strategies survey suggests Reform UK are at their highest-ever level with 14 per cent support.
Now, with Labour on course for a huge majority, some Tories could make the switch.
"I think 2019 MPs who believe being red faced and shouty is the way to be a serious politician may follow him," one Tory former minister told the Daily Mail.