Mr Sked, an academic who founded the party in 1993, said work pressure had forced a return to his "ivory tower" at the London School of Economics.
It follows his party's poor showing in the Uxbridge by-election in which the UK Independence Party was beaten by Lord Sutch. David Owen would up the SDP after his party was humiliated in a by-election by being beaten by a Monster Raving Loony candidate.
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