THE new Prime Minister and Tory party leader to replace Liz Truss will be revealed as late as FRIDAY next week – but could be SOONER, Sir Graham Brady has confirmed.
The Chair of the 1922 backbench committee revealed this evening that only THREE Tory MPs will make the first round of votes in what’s set to be a brutal showdown.
Sir Graham Brady today laid out the rules for the latest Tory leadership race
Liz Truss spectacularly announced she’s resigning as PM this afternoon
Tory MPs will have until next Monday to back a candidate for PM
Leadership hopefuls will need to woo at least 100 Tory MPs by 2pm on Monday.
If the maximum of three people are able to do that, then Tory MPs will vote for their favourite of the three on Monday, whittling down the pool to two.
Tory members will then be given the chance to vote online for their preferred choice of the final pair.
And on Friday October 28 the winner would be announced.
If only two candidates cross the 100 threshold then MPs will still vote on Monday for their favourite – but the ballot will only be indicative.
Both candidates will still be put to members who will pick their preferred hopeful in time for Friday.
But it could be the case that only one MP crosses the threshold. If that happens they will be announced as the new PM and Tory leader on Monday.
Ms Truss spectacularly resigned as PM today after 44 days of carnage that climaxed in a groundswell of calls for her to quit.
The departing Tory leader is the shortest-serving PM in British history – but presided over one of the most tumultuous periods in recent memory.
Six weeks of self-inflicted blunders left Conservative MPs in despair and sharpening their knives to oust her.
Ms Truss’ disastrous mini budget was the watershed moment that saw her dump her Chancellor and send the markets into meltdown.
But the final nail in the coffin came last night after a stinging attack from Suella Braverman and the Chief Whip threatening to resign amid claims MPs had been manhandled.
In a day of political chaos…
- Liz Truss dramatically RESIGNS as Prime Minister after just 44 days in office;
- Top contenders to take over from Liz Truss are revealed;
- Truss’s 44-day stint as PM is set to be the shortest in British history;
- The previous record-holder for shortest term was Tory statesman George Canning, who spent 118 days as prime minister in 1827 before dying in office from ill-health;
- Truss said she had spoken to the King on Thursday to notify him of her resignation;A new Prime Minister will be elected in days as today’s resignation sparks a leadership election
- Allies of Chancellor Jeremy Hunt said he would not be standing for the Tory leadership;Truss faces a dramatic week ahead as she remains in her post until a successor is chosen;
- Labour call for a general election.
- The pound has rallied following the dramatic resignation;
- Rishi Sunak, Penny Mordaunt and Ben Wallace are the top frontrunners to be the next PM.
No MPs have come out the woodwork to confirm they’re running to be PM yet.
But Boris Johnson, Penny Mordaunt and Rishi Sunak haven’t ruled out standing.
Already six MPs have come out to back their old boss – who is yet to confirm he’s definitely up for the challenge.
Four MPs are urging Mr Sunak to run, while three say they’re team Penny.
