Nadhim Zahawi has announced he will stand down at the next general election in the latest blow for the Tory party.
The former Chancellor said being MP for Stratford-on-Avon for the last 14 years has been one of his "greatest honours".
The MP becomes the 64th Conservative to announce they are standing down at the end of this parliament.
With the Tory Party expected to see huge losses in the next election, Zahawi said it is time is right for "a new, energetic Conservative" to step up.
Nadhim Zahawi has announced he will stand down at the next general election in a further blow for the Tory party
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Zahawi was set to face a tough re-election - as polls suggested he was on course to lose the seat.
In a post online, he wrote: "I have come to feel that the time is right for a new, energetic Conservative to fight for the honour of representing Stratford-on-Avon and assuming the mantle of MP for Shakespeare.
"I will, of course, serve my constituents with dedication and determination until then."
Zahawi was responsible for the Covid vaccine roll-out and was chancellor between July and September 2022.
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He added: "Every morning as I shave my head in the mirror, I have to pinch myself.
"How is it that a boy from Baghdad who came to these shores, fleeing persecution and unable to speak a word of English, was able to do as much as I have?
"For all our challenges, this is the best country on Earth, and it helped me make my British dream come true."
Zahawi’s announcement comes just one day after Dover MP Natalie Elphicke defected from the Tories to Labour.
Zahawi was set to face a tough re-election - as polls suggested he was on course to lose the seat
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She was spotted sitting on the Labour benches ahead of PMQs yesterday.
In a brutal statement, she accused Sunak of failing to "keep our borders safe and secure", as well as "failing to build the homes we need".
The latest defection means that the Government's majority has more than halved since the general election, dropping from 80 to 38 seats.
