Alistair Darling: Moment former chancellor stands down as MP in resurfaced clip

Former Labour chancellor Alistair Darling said his decision to step down from his role as an MP was to enjoy life while he was “still relatively young”.

The Labour Party veteran died from cancer at the age of 70, a spokesperson for his family announced on Thursday (30 November).

Mr Darling served as the chancellor under prime minister Gordon Brown from 2007 to 2010 during the final years of the last Labour government.

He was in charge at the Treasury during the crucial period of the global banking crisis – pushing through a huge rescue package in October 2008 which helped stabilize the economy.