Liz Truss has resigned as prime minister, saying she expects a replacement to be in place by the end of next week. There is little clarity yet on how the process will work but here is what we know so far.
When will we have a new prime minister?
Sir Graham Brady, the chair of the 1922 Committee of Tory backbenchers that decides the rules of a leadership contest, has said he hopes the process will be concluded by 28 October – next Friday.
The 1922 Committee executive will meet the Conservative party board to discuss how the process will work. A decision should be made on Thursday afternoon.
Who will decide the process?
The 1922 Committee has an 18-member executive whose members are elected by all Conservative MPs except those in the government. It runs the parliamentary side of the leadership contest. The party board, which includes the party chair, senior officials, peers and MPs, is usually in charge of the membership aspect of the process and hustings.
Will the wider Tory membership be consulted?
Asked whether the membership would be involved in the election, Brady said: “That is the expectation.” There could potentially be a very short online leadership ballot between the final two candidates.
Could MPs avoid the membership being consulted?
There is no official way to do that via the party’s current rules. However, there are ways to try to force a situation in which the membership is not consulted and MPs make the final choice.
The 1922 Committee executive could impose a high threshold – perhaps 100 MPs – who would be required to nominate a candidate. Or there could be an agreement between the two candidates who get the most nominations that the one with the smaller number drops out of the race.
Who is in the running?
Rishi Sunak, who lost to Truss in the previous leadership race, is expected to run but allies said he was still taking advice. Boris Johnson is very likely to run again, according to sources close to the former prime minister – and would be more likely to succeed if members had a say.
Jeremy Hunt and Michael Gove have ruled themselves out, while Penny Mordaunt, Kemi Badenoch and Grant Shapps are also potential candidates.