Tim Yeo has tonight stood down as Chairman of the Energy Select Committee to clear his name. Full statement:

I have decided that at the private meeting of the Energy and Climate Change Committee to be held tomorrow morning I will recommend to members of the committee that for the period until the Parliamentary Commissioner for Standards, to whom I have referred myself today, has completed her investigation I will temporarily stand aside from the chairmanship of the committee.

I am doing so solely to ensure the smooth running of the committee during the next few weeks.

I firmly believe that I have not breached the MPs’ Code of Conduct in any respect and therefore await the outcome of the commissioner’s investigation with confidence.

In particular I absolutely and unreservedly deny the allegation that I coached a witness with whom I have a business connection before that person gave evidence to the committee.

I do not wish the Commissioner’s investigation to be a distraction from the Committee’s important work.

I believe that during the past three years the committee has been extremely effective and I want this to continue.

He may be some time. Cheers…