Sajid Javid has announced he will not stand in the next general election, saying it had been “the privilege of my life” to represent his constituency.

The former chancellor, who has held a number of senior roles in government alongside his Bromsgrove seat, is the most high-profile Tory MP to decide to step down at the next national ballot, expected in 2024.

It comes amid reports the Conservative Party has told its MPs to decide about their future by Monday, with a number of younger MPs already confirming their exit.

In a letter to his party chairman posted on Twitter, Mr Javid said it was “a decision I have wrestled with for some time”, but one that had been “accelerated” due to the party deadline.

“Being the local MP and serving in government has been the privilege of my life and I am immensely grateful for the opportunity to serve,” he added.

“I always sought to make decisions in the national interest, and in line with my values, and I can only hope my best was sufficient.”

Mr Javid first came into parliament in 2010 during the Coalition government, and got his first job on the frontbench in 2012 as economic secretary to the Treasury.

But over the past 12 years he has held some of the highest offices of state, including home secretary and chancellor of the Exchequer.