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Business chief Stephen Hester has criticised George Osborne's decision to accept the editorship of the Evening Standard in addition to his role as MP, saying that "when you're in the business of public trust", combining two executive roles is "a step too far".

The Chief Executive of RSA – who had disagreements with Mr Osborne in his former role as chief executive of RBS bank – told the Westminster Hour that taking on an additional full-time job in the world of business would not be allowed.

“My shareholders would have a revolt and I would have to step down immediately", he said.