LIZ Truss has announced she will step down as Prime Minister after just 44 days in power.
But who will replace Ms Truss now she has been forced out as Conservative Party leader? And who is the favourite for the job?
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The PM announced the news earlier today in a statement to the nation at Downing Street.
It came after days of pressure, with MPs saying she had no choice but to go.
A Tory leadership race will now begin and a new PM will be chosen in the next WEEK.
Ms Truss said she had spoken to the King earlier today to inform him of the news, and had agreed with chair of the 1922 committee, Graham Brady that a fresh Tory leadership election should take place.
She said: “I am resigning as leader of the Conservative Party.
“This morning I met Sir Graham. We have agreed there will be a leadership election, to be completed within the next week.
“I will remain as Prime Minister until a successor has been chosen.”
Fifteen Conservative backbenchers publicly had called for the PM to go by this morning, with dozens more saying they want her out in private.
Who could replace Liz Truss as UK Prime Minister if she steps down?
Rishi Sunak
Ex-Chancellor Rishi Sunak picked up the most support among Tory MPs in the initial stages of the leadership race for his handling of the economy especially through the pandemic.
But members didn’t back his bid believing he stabbed Boris Johnson in the back with a dramatic resignation triggering his downfall.
Odds according to Betfair Exchange – 7/4.
Ben Wallace
Defence Secretary Ben Wallace didn’t put himself forward as a candidate in the summer 2022 contest, but Tory MPs see him as competent and a safe pair of hands.
The former Scots Guards infantryman completed two operational tours of Northern Ireland before he started his political career as a Member of the Scottish Parliament then became the MP for Wyre and Preston North in 2005.
Odds according to Betfair Exchange – 5/1.
Penny Mordaunt
Penny Mordaunt appeared a favourite with members during the leadership race, but she finished third.
But the ex-Defence Secretary came under fire at the party conference for saying it “makes sense” to raise benefits in line with inflation rather than wages.
Odds according to Betfair Exchange – 9/1.
Jeremy Hunt
Jeremy Hunt has ruled out standing again as party leader having lost to Boris Johnson in 2019 and only securing 18 votes when he stood in 2022.
Hunt is vastly experienced having served at Culture, Health and at the Foreign Office. But he remains divisive in the party due to backing Remain in the Brexit vote.
But this afternoon immediately after the PM’s statement, he said he would not run for the top job.
Odds according to Betfair Exchange – 9/2.
Suella Braverman
Hardline Suella Braverman was a contender in the last leadership election just a few months ago.
The Home Secretary, who was sacked yesterday, could try again to unite the right wing of the party, who are keen to keep up pressure to do more on immigration.
Odds according to Betfair Exchange – 33/1.
Boris Johnson?
The former PM has been away from Westminster on holiday, earning money for speeches, and taking some down time.
Could he return to the top job?
Anything’s possible in British politics.
