Chancellor Nadhim Zahawi has launched his bid to replace Boris Johnson in Downing Street and promised to ‘steady the ship’ as PM
Launching his campaign, he said he wanted to “stabilise the economy”.
He said: “Thanks to Brexit, we are now a free nation. Let’s not just talk about the opportunities that follow, let’s take them.
“If a young boy, who came here aged 11 without a word of English, can serve at the highest levels of Her Majesty’s Government and run to be the next prime minister, anything is possible.”
He entered a crowded field with Transport Secretary Grant Shapps among those announcing their candidacy.
Shapps said he was ruling out a general election and would produce an emergency budget cutting personal tax for the most vulnerable and giving state support to firms with high levels of energy consumption.
It comes as Ben Wallace has pulled out of the race to become PM.
In a statement released on Twitter, the Defence Secretary said he discussed a potential bid with his family but will instead, focus on his current job.
Rishi Sunak, who resigned as Chancellor, announced his leadership bid on Friday afternoon, claiming he intends to “restore trust” following the resignation of Mr Johnson, adding: “I want to lead this country in the right direction.”
He has been endorsed by former party chair, Oliver Dowden and Commons leader, Mark Spencer.
Chair of the foreign affairs select committee, Tom Tugendhat has announced a leadership bid, while former equalities minister Kemi Badenoch laid out her bid in The Times. Attorney general, Suella Braverman has also thrown her hat in the ring to be Prime Minister.
On Monday, elections will take place to the executive of the backbench 1922 Committee which will then set out the rules and timetable for the leadership contest.
