FEVERISH speculation surrounds the race for one of the North-East's safest political seats after Chester-le-Street MP Giles Radice announced he is standing down.

The region's longest-serving MP ended months of speculation and revealed on Friday that he will stand down after 28 years in the House of Commons.

His decision has sparked a fierce race for the Durham North Labour constituency where he had a majority of 26,299 at the 1997 General Election.

Often criticised by the people of Chester-le-Street for concentrating more on his role as chairman of the Commons' Treasury committee than the local electorate, the 64-year-old Pro-European said his decision to retire was based on age reasons.

He said: "I am already 64 and, if the next parliament runs its normal course, I will be 68 by the end of that parliament."

Responding to long-standing rumours about his impending retirement, he said: "Contrary to ill-informed press speculation, I did not make my decision about retiring until last weekend."

A tough race is predicted for the seat, with more than 50 candidates from across the country expected to throw their hat in the ring.

One name bandied around was Tory defector Shaun Woodward, an Oxfordshire MP, but North-East Labour bosses were quick to dismiss this as idle speculation.

Regional party bosses said that Labour's ruling national executive committee and not the Durham North constituency, would pick the short-list. That fuelled speculation that Labour HQ was aiming to slot in Mr Woodward to give him a winnable seat in his new party colours.

But a senior Labour regional source said: "We will not parachute anyone into the constituency."

Possible replacements include senior Newcastle councillor Kevan Jones.

He said: "I am not a candidate at the moment though I am on the party's list of Parliamentary potentials."

Prime Minister Tony Blair paid tribute to the departing MP. He said: "Giles has been a valued colleague and close friend for many years. I know personally how hard he has worked for his constituency."

Mr Radice's constituency agent David Wright said a move to the House of Lords is not being considered at the moment.

He added: "We are talking about a total break from Parliamentary life altogether. Giles writes political books and he will be concentrating on that for a while."