Rishi Sunak will now become the new UK Prime Minister after a last minute drop out from his Tory rival.
The former Chancellor will take the job by default after competitor Penny Mordaunt backed out from the race moments before the 2pm deadline on Monday, October 24.
Receiving the backing of over 200 Conservative MPs from across the country, Mr Sunak had put himself forward to replace Liz Truss after her resignation last week.
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The former Chancellor had lost out on the position in the summer to the former PM following a previous leadership contest.
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The news comes less than 24 hours after Boris Johnson confirmed he would not be standing again in the race to become the next Prime Minister.
Despite returning to the UK from his holiday in the Dominican Republic early, Mr Johnson, who resigned from Downing Street earlier this year, said on Sunday evening that he would not be entering the race.
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