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politicsClosed Oct 21, 2022

Tories to Announce Leadership Finalists Monday Evening

  • Tories to finalize list of candidates Monday evening
  • Raab backs Sunak as the next UK prime minister
  • New UK leader to be in place by Oct. 28
  • UK Chancellor Hunt rules out his candidature
  • Former PM Johnson expected to run for leadership: Times

These are the key takeaways from outgoing UK Prime Minister Liz Truss’s dramatic resignation and the upcoming leadership election:

  • Truss will be the shortest-serving prime minister in Britain’s history, quitting after just 44 days in office, meaning the UK will have its third leader in a year.
  • Truss’s premiership was plunged into chaos after her mammoth package of unfunded tax cuts sent markets into turmoil, she sacked two senior members of her government, and she oversaw a parliamentary vote which ended in allegations of bullying against her colleagues.
  • The Conservative Party is aiming for a speedy leadership race. The rules are designed to allow a maximum of three candidates to be chosen by MPs, with two going to the membership. A new leader will be announced by the end of next week at the very latest.
  • Ex-Prime Minister Boris Johnson, Truss’s leadership rival Rishi Sunak and senior government minister Penny Mordaunt are among favorites to succeed her, bookies say.
  • No-one has yet formally declared their candidacy, but it’s been reported that Johnson is cutting his holiday short to make a pitch to return months after his own ousting.