Credit: Ben Shread / Cabinet Office
There are indications that the immediate past Prime Minister, Boris Johnson, may stand in the contest to replace Liz Truss.
The Times reported that the former prime minister, who only left office six weeks ago, is taking soundings from friends but is said to believe he can turn the Conservative Party around.
Several Tory MPs are already suggesting that he should replace Truss, who announced her resignation this afternoon after 44 days in office.
The prime minister said a successor would be chosen within a week “to deliver our fiscal plans and maintain our country’s economic stability”. Conservative members will be “consulted”, according to Sir Graham Brady, chairman of the 1922 Committee, which runs Tory leadership contests.
Another British newspaper, The Telegraph reported that candidates for the Tory leadership election are expected to need the backing of 100 Tory MPs to run.
That is five times the previous threshold of 20 Tory MPs to get on the ballot in the summer contest. It also means only a maximum of three candidates can run.
The details of the contest are just being finalised at an emergency meeting of the Tory party board.
A new Tory leader will emerge before October 31, 2022.
