Thursday 20 October
1.35pm: Liz Truss resigns as Conservative party leader and says she will step down as prime minister by 28 October, making her the shortest-serving British prime minister in history.
2.15pm: Sir Graham Brady, the chair of the Tory backbench 1922 Committee, says he has spoken to the party chair, Jake Berry, and they agreed they can conclude a leadership election by Friday 28 October, and that party members will be involved in the process.
2.43pm: It emerges that Boris Johnson, on holiday in the Dominican Republic, is “taking soundings” on entering the Tory leadership contest. Rishi Sunak quickly emerges as most likely frontrunner; the chancellor, Jeremy Hunt, rules himself out.
3.29pm: It emerges that Penny Mordaunt is considering a leadership bid.
3.38pm: The former Conservative PM Theresa May urges Tory MPs to “compromise” as they choose a new leader. Tory MP Sir Robert Syms says it would be “mad” to choose Johnson.
5.30pm: Brady announces the timetable for election and says candidates will need 100 MP nominations by Monday 2pm to be able to stand, guaranteeing that no more than three candidates can make it to a ballot of Conservative MPs held on the same day. A second MPs’ ballot, if needed, was timetabled to be announced at 9pm on Monday before the shortlist of two goes to party members.
