'Third way' guru steps down as head of LSE

Tony Giddens, one of the architects of New Labour's "third way" strategy, is stepping down as director of the London School of Economics.

Professor Giddens, 64, was appointed director of the LSE in 1997, the year Labour came to power, and the Prime Minister has acknowledged his intellectual influence in the party's revival.

He will leave the £160,000- a-year post in autumn next year. During his five years at the LSE he raised £45m towards a £100m development target.

He was previously a professor of sociology and a Fellow of King's College, Cambridge. He grew up in Edmonton, north London, and was the first person in his family to go to college or university.

Despite having played a key role in helping Tony Blair formulate his political philosophy, Professor Giddens spoke out in January against Labour's "failures". He said the Government's reputation for "spin" had damaged Labour's image in ways from which it would be difficult to recover. He also attacked the "dismal saga" of the Millennium Dome and Labour's failure to curb corporate "fat cats".

However he praised Labour for marginalising the Tories, redistributing wealth and making progress on education.