Brown could quit British politics

Gordon Brown could be set to bow out of British politics and take a world-spanning overseas post as head of the International Monetary Fund.

The move, reported today, would shock Westminster, scupper the Chancellor's long held hopes of inheriting No 10 and change the landscape of British politics.

But the report gained credence when there was no immediate denial from the Treasury.

A spokesman there said any suggestion Mr Brown was preparing to leave British politics was "pure speculation", adding that it was premature to comment.

Others said they would not be surprised if the Chancellor came under pressure to "throw his hat in the ring" and suggested he would consider the offer carefully.

The IMF job - one of the most influential and powerful positions on the global economic stage - suddenly became vacant yesterday after Horst Kˆhler resigned as the fund's managing director in order to seek the German presidency.

Today's report in the Guardian cited IMF sources in Washington naming Mr Brown as one of the frontrunnersto take over. Accepting the job, however, which is based in Washington and runs for a five-year term, would effectively remove Mr Brown, at 53, from any hope of taking over the premiership.

Some at Westminster suggested the Chancellor's aides, by not denying the story, were simply leaving all his options open for a prospect that has come up at very short notice.

Others hinted at a deliberate mischief-making exercise - by raising the spectre of Mr Brown's departure to remind everyone of the pivotal role he plays at the Treasury.

Many found it difficult to believe that Mr Brown would throw away his ambition to inherit the Labour leadership, and his lifelong commitment to the party.

They pointed to the better relations between the neighbours at No10 and No11 in recent months and the persistent suggestions that Mr Brown had been given some kind of promise that, before too long, Mr Blair would step down opening the way for him to take over.

Despite that, the IMF post is one of the very few jobs with both the prestige and the power that might persuade Mr Brown to think again.

It would give him a worldwide role in tackling poverty and pursuing social justice. The Chancellor already holds a powerful position within the IMF as chairman of its main decision-making arm, the International Monetary and Financial Committee.

He is also a longstanding enthusiast for America and regularly takes his holidays there.

At the same time, though, other candidates were already jostling for the position.

They included a strong French candidate, Jean Lemierre, President of the European Bank for Reconstruction and Development, with contenders from Spain and Poland.