Nominations for the next Conservative party leader have now opened, the Chairman of the 1922 Committee has confirmed.
It comes hours after Liz Truss quit as Prime Minister, just 44 days into the role. Outside Downing Street, Ms Truss said there would now be a leadership election to replace her. Sir Graham Brady, chairman of the Tory 1922 Committee, said he expected the new leader to be in place by Friday, October 28 - before the delivery of the government's fiscal statement on Monday October 31.
He told reporters: “I have spoken to the party chairman Jake Berry and he has confirmed that it will be possible to conduct a ballot and conclude a leadership election by Friday the 28th of October. So we should have a new leader in place before the fiscal statement which will take place on the 31st.”
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The Conservative Party met at 4pm on Thursday (October 20) and, in conjunction with the 1922 Committee, had decided on the election process, Tory party chairman Jake Berry said. Sir Graham Brady told reporters that nominations are now open and will close at 2pm on Monday (October 24).
Candidates will need to have received 'at least 100' nominations from colleagues to run in the contest, he said. The requirement should be achievable by any candidate with a realistic chance of winning, he added.
Mr Brady said it would mean a maximum of three candidates on the ballot paper for MPs to vote on. “We fixed a high threshold but a threshold that should be achievable by any serious candidate who has a prospect of going through,” he said.
Mr Berry added that if the party put forward two candidates there would be 'an expedited, binding, online vote of Conservative Party members to choose its next leader.' Conservative HQ will be working with broadcasters to arrange one broadcast event so members can hear from the final two candidates before they vote, it was confirmed.
During the last leadership contest, which was triggered in July when Boris Johnson resigned, candidates only needed to demonstrate that they had the support of 20 MPs. They then went through rounds of ballots until two contenders remained, with voting being opened up to Tory members across the country.
The next leader to be elected will be the Tory party's third in four months.
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