The right-wing politician is stepping back from the newly-renamed Reform UK in the wake of the country formally leaving the EU.

Mr Farage, 56, was a long-standing campaigner for Brexit and a member of the European Parliament for more than 20 years.

The former UKIP leader had failed to become an MP on seven occasions but is likely to be seen by some as one of the most successful politicians of his generation for his role in Brexit.

He tweeted on Sunday: ‘I won’t be involved in elected politics any longer, but I’m not going to go away from fighting the big battles of the day.’

But this is not the first time he has claimed to be leaving front line politics, having resigned as UKIP leader in 2016 saying ‘I want my life back’.

Mr Farage, now a hugely divisive figure in the UK, told the Sunday Telegraph that he is stepping back from active politics after 30 years of campaigning.

He explained: ‘This has taken away the better part of my adult life.

‘When you are an insurgent anti-establishment group, the people at the top have to raise the money, organise the discipline and do the whole thing, and I’m done.’

He apologised to those who were ‘disappointed’ by the decision.

But Mr Farage said he expects to be able to speak out about any big issues.

His Brexit Party became known as Reform UK after a name change and a shift of focus towards an anti-lockdown position earlier this year.

In the 2019 general election, it contested 275 seats and took 2% of votes but did not succeed in electing an MP.

Mr Farage, a former banker, said he will become honorary president of Reform UK and will be replaced as its leader by chairman Richard Tice.