Boris Johnson has agreed to stand down as Tory Party leader following a wave of ministerial resignations.
Mr Johnson is expected to make a statement later on Thursday confirming that he will be resigning from the position. It means the Consvervative Party will need to elect a new leader and Prime Minister.
However the process is expected to take some time with Mr Johnson set to remain as caretaker Prime Minister. It is reported that a successor will be in place by the time of the Conservative Party Conference in the autumn.
READ MORE: LIVE: Boris Johnson agrees to resign - latest updates
This year's conference is taking place in Birmingham between October 2 and 5.
The resignation comes after the Prime Minister haemorrhaged support among his ministers and MPs.
More than 50 MPs have resigned from government or party roles since Tuesday night, when the mass exodus was triggered by the resignations of Rishi Sunak and Sajid Javid from the Cabinet. The Prime Minister had sought to defy his critics and carry on in office, despite warnings from Cabinet colleagues that this was not sustainable.
The timetable for the Tory leadership contest will be agreed between the 1922 Committee, which runs the parliamentary proceedings to whittle the candidates down to two, and Conservative headquarters.
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