Commons Speaker John Bercow asked Mr Skinner to withdraw the remark – considered unparliamentary language – but he refused and instead chose to repeat it.
Mr Bercow then ordered the Bolsover MP to leave the chamber immediately and barred him from debates for the rest of the day.
“Do what you like,” Mr Skinner, known as the ‘Beast of Bolsover’ for his angry attacks on Tory ministers, could be heard saying, before walking out as instructed.
The 84-year-old Labour politician made the comments while asking the Prime Minister to explain his financial affairs further – with particular reference to the mortgages on his homes in Notting Hill and Oxford.
During his questioning, Mr Skinner said: “Maybe dodgy Dave will answer it now?”
Mr Bercow replied: “I must ask the Honourable Gentleman to withdraw that adjective - you're perfectly capable of asking the question without using that word.”