George Osborne served as Conservative MP for Tatton from 2001 to 2017.

A prominent figure in the party, Osborne became shadow chancellor of the exchequer in 2005 aged 33 and served as chancellor of the exchequer throughout David Cameron’s premiership from 2010 to 2016. He was also appointed first secretary of state in 2015.

Osborne was seen as Cameron’s closest ally and a key architect of the “modernisation” project he oversaw as Conservative leader. His time as chancellor was defined by the response to the 2008 financial crisis and the austerity measures he implemented, aimed at reducing the UK’s budget deficit.

Osborne was a leading Remain voice during the 2016 Brexit referendum, having privately counselled Cameron not to a hold national vote on Britain’s membership of the European Union. Following Cameron’s resignation, Osborne was dismissed as chancellor by his successor as prime minister, Theresa May.

Osborne stood down as an MP at the 2017 general election. He now co-hosts the weekly podcast Political Currency with former shadow chancellor Ed Balls.

George Osborne: rise to prominence (1994-2010)

Osborne joined the Conservative Research Department in 1994 and went on to serve as a special adviser to minister of agriculture, fisheries and food, Douglas Hogg. He also took up a more senior role in John Major’s Downing Street operation, before working on the Conservative campaign for the 1997 general election.

Osborne worked for William Hague, Major’s successor as leader of the Conservative Party, from 1997 to 2001 as political secretary and speechwriter. During this time, Osborne helped Hague prepare for prime minister’s questions (PMQs), sometimes playing the role of Tony Blair in rehearsals. Osborne was said to perform “an alarmingly accurate portrayal” of Blair, reportedly mimicking “not just the hand movements and the accent but even the precise arguments Blair would make.”

Osborne was elected as the Conservative MP for the safe seat of Tatton at the 2001 general elections. He was the youngest Conservative MP in the House of Commons at that time, but quickly rose up the ranks in the party.

In March 2003, Osborne voted in favour of the government motion authorising military action against Iraq. The vote, one of the most contentious in recent parliamentary history, gave the prime minister, Tony Blair, the authority to join the US-led invasion.

Under Michael Howard as leader, he was appointed as shadow chancellor in 2004, joining the shadow cabinet.

Osborne was appointed as shadow chancellor on the caretaker/interim frontbench constructed by Howard after the 2005 general election resulted in a third consecutive Labour majority government. He supported David Cameron in the 2005 leadership election, lending his campaign credibility as a key member of the shadow cabinet.

Osborne and Cameron’s close partnership was referred to as the “Notting Hill set” – a reference to the west London homes of many of the party’s “modernising forces”.

Osborne ran Cameron’s successful leadership campaign and was retained as shadow chancellor under the new regime. Osborne was a central figure in Cameron’s inner circle during his tenure as Conservative leader, advising on political strategy and curating economic policy.

Osborne was especially influential during the “election that never was” saga of autumn 2007. After weeks of speculation over whether the prime minister, Gordon Brown, could call a snap election, Osborne delivered a speech to Conservative conference that was widely seen as a political masterstroke. He unexpectedly pledged to raise the inheritance tax threshold to £1 million. Subsequent polling suggested the policy announcement had cut through, allowing the Conservatives to close the gap on Labour.

Osborne stated: “The next Conservative government will raise the inheritance tax threshold to £1 million. That means, we will take the family home out of inheritance tax.

“In a Conservative Britain, nine million families will benefit. In a Conservative Britain, only millionaires will pay death duties. In a Conservative Britain, you will not be punished for working hard and saving hard. You will not be penalised for wanting a better life for your children.”

In the wake of the speech, the revelation of a News of the World poll, which showed a Conservative lead of six points in 83 key marginal constituencies, is said to have unnerved No 10. On 6 October, under mounting pressure to clarify his intentions, Brown abruptly pulled the plug and said he would not call an election. The saga was widely seen as a victory for Cameron and the Conservative Party. Brown’s premiership was subsequently dogged by accusations of indecision.

George Osborne: chancellor (2010-2016)

Osborne served as chancellor of the exchequer in the Conservative-Liberal Democrat coalition that entered office after the 2010 general election. He remained a central figure in Cameron’s inner circle and was one quarter of the “quad” of ministers (two Conservative, two Liberal Democrat) that was set up to resolve policy disagreements, so compromises could be taken to the wider cabinet.

As chancellor, Osborne oversaw a prolonged period of public spending cuts and fiscal consolidation, commonly referred to as austerity measures, aimed at reducing government borrowing. In the October 2010 spending review, he announced £81 billion in departmental budget cuts.

One of Osborne’s key policy initiatives as chancellor was his “Northern Powerhouse” project. This was a proposal launched in 2014 to boost economic growth and connectivity across the major cities and regions of Northern England, aiming to rebalance the British economy beyond London and the South East. The strategy involved plans for transport infrastructure investment (like HS2 and Northern Powerhouse Rail), devolution deals granting more powers to city regions and efforts to attract foreign investment.

In February 2013, Osborne was one of the 131 Conservative MPs to vote in favour of the Marriage (Same Sex Couples) Bill at its second reading. The landmark piece of legislation, which received its second reading by 400 votes to 175, legalised marriage for same-sex couples in England and Wales.

Osborne voted in favour of the government’s motion on the principle of military intervention in Syria in August 2013. The government motion was defeated by 285 votes to 272, a move which effectively ruled out UK participation in any US-led military strikes.

In the wake of the vote, Osborne predicted a moment of “national soul-searching” about Britain’s role in the world.

He said: “I think there will be a national soul-searching about our role in the world and whether Britain wants to play a big part in upholding the international system, be that a big open and trading nation that I’d like us to be or whether we turn our back on that.”

Osborne played a key role in the 2014 Scottish independence referendum. In a crucial intervention, Osborne insisted that Scotland would not be able to keep the pound in the event of independence. He ruled out an Anglo-Scottish monetary union, declaring: “The pound isn’t an asset to be divided up between two countries after a break-up like a CD collection.”

Osborne added: “If Scotland walks away from the UK, it walks away from the UK pound.”

The 2015 general election resulted in a surprise Conservative majority. In the wake of the election, Osborne was appointed as secretary of state, succeeding William Hague. This role effectively confirmed his position as the second most powerful person in the government.

Osborne played a leading role in efforts to persuade MPs to back a government motion to extend UK airstrikes against Isis from Iraq into Syria in December 2015. The motion, which was passed by 397 votes to 223 after a 10-hour debate in the House of Commons, authorised the RAF to conduct strikes against Isis targets in Syria.

Osborne was a prominent voice in the 2016 Brexit referendum. During the campaign, Osborne claimed that a vote to leave the EU would see the government tear up its manifesto pledges to raise taxes in an emergency budget. “Far from freeing up money to spend on public services as the leave campaign would like you to believe, quitting the EU would mean less money”, Osborne declared. “Billions less. It’s a lose-lose situation for British families and we shouldn’t risk it.”

In his 2019 memoir, For the Record, Cameron revealed that Osborne was strongly opposed to the referendum strategy.

The Leave victory precipitated Cameron’s resignation as prime minister. Osborne, widely seen as Cameron’s heir apparent, did not stand in the subsequent Conservative leadership election. Theresa May, who assumed office as prime minister in July 2016, dismissed Osborne as chancellor.

According to Osborne, May told him he needed “to get to know the party better”.

In February 2017, Osborne voted in favour of the European Union (Notification of Withdrawal) Bill. The legislation empowered May to notify the Council of the European Union of the UK’s intention to withdraw, formally triggering the process set out in Article 50 of the Treaty on European Union.

Osborne stood down from parliament at the 2017 general election, shortly after accepting the position of editor of the Evening Standard. As editor of the Evening Standard, Osborne repeatedly attacked the May government.

In one savage editorial, published during the 2017 general election, the paper said the Conservative campaign had “meandered from an abortive attempt to launch a personality cult around Mrs May to the self-inflicted wound of the most disastrous manifesto in recent history”.

As the results of the 2017 election came in, Osborne said that he could not see how May could “survive in the long term”.

In another editorial, Osborne described May’s January 2018 reshuffle as the “worst in modern history”.

Osborne wrote: “You have to hand it to this prime minister: she’s given us the hat-trick of the worst reshuffle, the worst party conference speech and the worst manifesto in modern history. If they were not facing one of the worst oppositions we’ve ever had, the Tories would be finished.”

What is George Osborne doing now?

In September 2016, Osborne was involved in the formation of the Northern Powerhouse Partnership (NPP). He chaired the organisation upon its founding and now serves as co-president.

In January 2017, it was announced that Osborne would join the world’s largest fund manager, BlackRock, as a part-time adviser. He was tasked with providing “perspectives on European politics and policy, Chinese economic reform, and trends”.

Osborne stepped down as editor of the Evening Standard in 2020. He emerged as editor-in-chief.

In February 2021, Osborne joined boutique investment bank Robey Warshaw in a full-time role, leaving his posts at BlackRock and the Evening Standard. “Robey Warshaw is the best of the best, advising great businesses on how to grow, and I’m proud to be joining this first-rate team”, Osborne said at the time.

In June 2021, Osborne was appointed as the new chair of the British Museum in London.

Since September 2023, Osborne has co-hosted the successful weekly podcast Political Currency with Ed Balls, offering insights from their experiences as chancellor and shadow chancellor.

George Osborne and Chelsea FC

In the spring of 2022, Osborne was involved, via his firm Robey Warshaw, in the successful £4.25 billion takeover bid for Chelsea Football Club led by Los Angeles Dodgers part-owner Todd Boehly and Clearlake Capital.

Robey Warshaw acted as an adviser to the Boehly-Clearlake consortium during the complex sale process following sanctions imposed on the club’s previous owner, Roman Abramovich.

Osborne himself is known to be a lifelong Chelsea fan and was pictured celebrating in the directors’ box at the 2012 UEFA Champions League final when Chelsea won the trophy.

Before Politics

George Gideon Oliver Osborne was born on 23 May 1971 in Paddington, London. He attended Norland Place School, Colet Court and St Paul’s School. He studied modern history at Magdalen College, Oxford, graduating in 1993.

After university and brief freelance work for the Daily Telegraph, Osborne joined the Conservative Research Department in 1994.

Personal Life

Osborne is the eldest son of Sir Peter Osborne, 17th Baronet and co-founder of the design company Osborne & Little. Osborne is the heir apparent to his father’s baronetcy.

While at Oxford University, Osborne was a member of the Bullingdon Club.

In 1998, Osborne married Frances Howell, an author and the daughter of Conservative peer Lord (David) Howell of Guildford (who served as a minister under Margaret Thatcher). The couple announced their separation in July 2019 and later divorced. They have two children, a son (Luke) and a daughter (Liberty).

In July 2023, Osborne married Thea Rogers, his former Treasury chief of staff. They have three children.

Trivia

Osborne is the heir apparent to the Osborne baronetcy of Ballentaylor and Ballylemon, created in 1629.