Tory leadership hopefuls will need at least 100 MP supporters to get on the ballot paper to succeed Liz Truss. Tory party chairman Jake Berry said the board of the Conservative Party met at 4pm on Thursday and, in conjunction with the 1922 Committee, had decided on the process for selecting their new leader.
“We have decided that if the party should decide to put forward two candidates there would be an expedited, binding, online vote of Conservative Party members to choose its next leader,” Mr Berry said.
Committee chair Sir Graham Brady said challengers for the Tory leadership will need nominations from at least 100 Conservative MPs to make it to the next stage of the race to replace Liz Truss. After talks with the board of the Conservative Party and the executive of the 1922 Committee of Tory backbenchers that he chairs, the MP told reporters nominations will begin now and close at 2pm on Monday.
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If only one candidate MP receives more than 100 votes, then that candidate will be named leader of the Conservative Party, and the new Prime Minister, on Monday, October 24.
Should two candidates receive the requisite number of nominations from MPs, the ballot will open on Monday and is expected to close on Friday, October 28, to allow a new Prime Minister to take office in time for Chancellor Jeremy Hunt's Halloween financial statement. A Treasury source confirmed the plan is to go ahead with the medium term fiscal plan on October 31, which is expected to include sweeping cuts to public spending.
“Candidates will be expected to have at least 100 colleagues nominating them…” Mr Berry said. "Nominations will close on Monday to whittle down the field, before moving to an online vote for members if two candidates make it through."
Ms Truss was forced to resign as Prime Minister today after an only six-week long stint marred by chaos and bitter infighting. The crisis-hit Tory leader finally caved after a week where she lost Chancellor Kwasi Kwarteng and Home Secretary Suella Braverman - and was forced to rip up almost all of her economic plans.
Ms Truss, who is now the shortest-serving premier in history, confirmed she would quit Downing Street once a replacement had been chosen.
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