Hoban, who famously compared financial advisers to workers in McDonald’s during a parliamentary debate on the Retail Distribution Review, has represented the Fareham constituency for 14 years.
Hoban said it was time to start a new chapter in his life.
“I have decided not to restand in May’s general election. This has been a difficult decision but the right one. It is time to turn a new page and take on some new challenges.”
Hoban said he was particularly proud of his Treasury work which led to an overhaul of financial regulation after the crisis, but that it was “time to move on and embrace new opportunities”.
His political posts have included a seat on the science and technology committee (2001-2003), as well as shadow minister for health (2003-2004), education (2004-2005) and the Treasury (2005-2010).
