Liz Truss resigned as prime minister this afternoon, making her the shortest serving leader in British history with just forty-five days in office under her belt.
Despite there being numerous calls for a general election – namely by opposition leader Sir Keir Starmer – the chairman of the Tory 1922 Committee Sir Graham Grady says he expects to see a new Conservative leader in place by next Friday (October 28th).
There are a number of hopeful candidates expected to replace Truss in her role as PM; here are some of the favourites, according to Odds Checker.
No 10 / Flickr
Rishi Sunak 13/8
The former chancellor, who was runner-up to Truss in the Tory leadership race six weeks ago, is one of the favourites to become the next prime minister.
Sunak previously warned Truss that her tax-cutting plans would send the economy plummeting, accusing her of ‘fairytale economics’ as she promised unfunded tax cuts.
He won every voting round among MPs in the Tory leadership race, though his ability to unite the party was questioned as a result of the role he played in former PM Boris Johnson’s resignation earlier this year.
Number 10 / Flickr
Penny Mordaunt 9/2
The leader of the Commons and former defence secretary came in third place behind Sunak in this year’s Tory leadership race before she backed Truss’s bid, making her one of the more popular candidates for PM.
However, she did cause a stir at the Tory conference earlier this month when she said the party’s ‘comms is s***’.
In text messages leaked to Sky News, Tory MP Crispin Blunt was seen throwing his support behind Mordaunt and Sunak, with him writing: “Step forward Rishi and Penny, with our support and encouragement in the interests of us all.”
Number 10 / Flickr
Ben Wallace 6/1
The defence secretary and former soldier remained neutral in the Tory leadership race before eventually backing Truss.
However, there are doubts as to whether Wallace would even want to run for PM, with him recently telling The Times that he wants to remain in his post amid speculation he could be a unity candidate to become leader.
Wallace, who has been applauded for his response to the war in Ukraine, said: “The public wants stability and security and if the government fails to deliver that then they will send us into opposition.”
Number 10 / Flickr
Suella Braverman 40/1
Braverman’s declaration to run for Conservative party leader over the summer and her resignation as home secretary last night has made her a contender to be Britain’s next PM.
Following her resignation last night, which came as a result of her sharing secure information through a private email, Braverman lashed out at Truss’s ‘tumultuous’ leadership, and accused the government of ‘breaking key pledges’.
However, Braverman hasn’t been without her controversy, with her previously accusing the Tory critics who forced Truss into U-turning over her income tax plans of a ‘coup’.
Number 10 / Flickr
Boris Johnson 14/1
Quite remarkably, there are high expectations for former PM Boris Johnson to run for the leadership once again after he was forced to resign following the lockdown ‘partygate’ scandal in Number 10 just three months ago.
According to reports, a number of Tory MPs – Nadine Dorries included – are openly suggesting that the party asks Johnson to make a ‘sensational’ return to Downing Street.
When Johnson resigned, he compared himself to Roman statesman Cincinnatus, who battled against invasion before returning to his farm. According to tradition, Cincinnatus later returned to serve a second term.
Number 10 / Flickr
Jeremy Hunt 7/2
The newly-elected Chancellor of the Exchequer is now regarded as one of the most powerful figures in government, and has twice unsuccessfully tried to become Tory leader.
Hunt was in the final two contenders to be Tory leader in 2019 – but lost to Boris Johnson by 66% to 34% in the members’ vote.
MP Crispin Blunt has said Hunt should be the party’s next leader, saying:”Jeremy Hunt has in a few short days impressively exercised his known personal qualities and has made the first critical contribution to restoring the primacy of serving the national interest. He should complete this work as our next prime minister.”