Lord Carter, the former Ofcom boss currently finalising a major review of the next decade of technology policy, will quit the government soon after it is published, according a report.
The communications minister and ex-public relations executive is eyeing a lucrative return to the private sector, The Times reports.
Gordon Brown hired Carter as a strategy adviser 18 months ago, but he was quickly sidelined at Number 10 - reportedly by Damian McBride, the disgraced spin doctor. He was then given a peerage and asked to produce his report on Digital Britain.
The final report is due to be published next week, and will set out policy on an array of internet-related issues including piracy, broadband availability, spectrum and public service broadcasting.
Carter did not comment on the story, although he failed to confirm he would still be a minister by the end of the summer.
The Times speculated that he could apply for the top job at ITV, worth £1m per year. ®