Chancellor Nadhim Zahawi - appointed just days ago following the resignation of his predecessor Rishi Sunak - has announced a bid to become the next Conservative Party leader. It means he is the third serving Government minister to launch a campaign, following on from Attorney General Suella Braverman and Transport Secretary Grant Shapps.
In addition to Mr Shapps and Ms Braverman, Mr Sunak, ex-minister Kemi Badenoch and senior Tory Tom Tugendhat have launched their own bids. Further announcements are anticipated over the coming days.
Earlier, Defence Secretary Ben Wallace said that after “careful consideration” and discussion with colleagues and family, he would not stand to be party leader and the next prime minister. Foreign Secretary Liz Truss is widely expected to stand, while other potential frontrunners include trade minister Penny Mordaunt and former health secretaries Sajid Javid and Jeremy Hunt.
