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Alistair Darling, who was Labour chancellor of the exchequer during the financial crisis, has died at the age of 70.
A spokesperson for the Darling family announced the death of the veteran Labour politician at lunchtime on Thursday.
A highly popular politician across party lines, Darling’s death will come as a shock to many at Westminster and in the City of London, where he was a well-known figure.
He had been suffering from cancer but had chosen to keep his condition private, a friend of the former chancellor said.
He died peacefully in Edinburgh on Thursday morning with his wife Maggie and children by his side, the friend said.
Darling was an MP from 1987 until he stepped down from the House of Commons in 2015, most recently representing Edinburgh South West.
He held various senior positions in the Labour government including secretary of state for transport, Scotland and business before being promoted to chancellor in 2007.
Darling ran the Treasury for three years until Labour lost the general election in May 2010, overseeing the UK government’s interventions during the global credit crunch.
Sir Keir Starmer, Labour leader, said: “I am deeply saddened to learn of the passing of Alistair Darling. My heart goes out to his family, particularly Maggie, Calum and Anna, whom he loved so dearly.
“Alistair lived a life devoted to public service. He will be remembered as the chancellor whose calm expertise and honesty helped to guide Britain through the tumult of the global financial crisis.
“He was a life-long advocate for Scotland and the Scottish people and his greatest professional pride came from representing his constituents in Edinburgh.
“I consider myself incredibly fortunate to have benefited from Alistair’s counsel and friendship. He was always at hand to provide advice built on his decades of experience — always with his trademark wry, good humour.”