Tories Mulling Over Speeding Up Leadership Election to Allow New Boss to React to Budget

Tory Leadership Election Considered for Speedier Process

The Conservative Party is contemplating the idea of accelerating their leadership election by a week to enable the incoming leader to respond to the Budget without any delays. This adjustment would also prevent any clash with the US Election on November 5.

New Leader Aiming to React to Budget Announcement

Party officials are exploring the option of shortening the leadership election to provide the new leader with the opportunity to react to Chancellor Rachel Reeves' anticipated tax proposals. Currently, former PM Rishi Sunak is slated to lead the charge on the Budget before the new leader is revealed on November 2.

Proposed Timeline Changes for Leadership Election

The Treasury has set the Budget date following the schedule for selecting the new Conservative leader. As per the current plan, an online member ballot will commence in early October once the six candidates have been narrowed down to two finalists. While the ballot is scheduled to conclude on October 31, there are discussions among senior party members to bring it forward to October 24, with the winner to be announced on October 26.

Emphasis on New Leader's Role in Budget Response

A source within the Tory party highlighted the importance of the new leader being the one to respond to the Budget, stating that it would be a significant moment for them to take on.