A large new statue has appeared in central London that appears to bear the signature of the elusive street artist Banksy.

The sculpture of a suited man marching forward off a plinth, while carrying a flag with one hand that also covers his face, was first spotted in St James’s on Wednesday.

It sits on Waterloo Place, near statues of Edward VII, Florence Nightingale and the Crimean War Memorial.

‘Banksy’ has been scrawled onto the bottom of the plinth, leading to speculation the artist is behind it, although Banksy has not confirmed the work is his.