Will Rishi Sunak become Britain’s new Prime Minister after Liz Truss announced her decision to leave 10 Downing Street on Thursday afternoon after only 44 days on the job?
Bookies have made Rishi the favourite to take over but the former chancellor’s enemies are determined to stop him even though he has been vindicated by events.
The Daily Telegraph said it understood Boris Johnson, who is on holiday in the Caribbean, is taking soundings and considering making another bid for the premiership.
A Rishi versus Boris battle would be intriguing because the latter holds his former chancellor responsible for his downfall. This time the leadership contest will be speeded up and a new Prime Minister will be in place by October 31.
Truss’s departure was not unexpected following the chaos of recent days, especially the departure of her home secretary Suella Braverman, who called for the Prime Minister to step down: “The business of government relies upon people accepting responsibility for their mistakes. Pretending we haven’t made mistakes... and hoping that things will magically come right is not serious politics.”
William Wragg , the vice-chairman of the 1922 Committee, said on Wednesday that he was “personally ashamed” by the mini-budget, while Steve Double, a former environment minister, told Times Radio that Truss’s position was becoming “increasingly untenable”.
Truss became Prime Minister on September 6 after she was chosen over Rishi by Tory party members.
On September 8 Queen Elizabeth died; the mini-budget from chancellor Kwasi Kwarteng came on September 23 and spooked the markets; he was sacked on October 14 and replaced by Jeremy Hunt (who won’t run for Prime Minister), and Braverman resigned on October 19.
Truss realised her time was up as an increasing number of Tory MPs asked her to go.
It took her 89 seconds to make her resignation statement outside 10 Downing Street.
She said: “I came into office at a time of great economic and international instability. Families and businesses were worried about how to pay their bills. Putin’s illegal war in Ukraine threatens the security of our whole continent. And our country has been held back for too long by low economic growth.
“I was elected by the Conservative Party with a mandate to change this – we delivered on energy bills and on cutting national insurance. And we set out a vision for a low-tax, high-growth economy that would take advantage of the freedoms of Brexit.
“I recognise though, given the situation, I cannot deliver the mandate on which I was elected by the Conservative Party. I have therefore spoken to His Majesty the King to notify him that I am resigning as leader of the Conservative Party.
“This morning I met the chairman of the 1922 Committee, Sir Graham Brady. We have agreed that there will be a leadership election to be completed within the next week.
“This will ensure that we remain on a path to deliver our fiscal plans and maintain our country’s economic stability and national security. I will remain as Prime Minister until a successor has been chosen. Thank you.”
Conservative MP Sir Robert Syms dismissed the idea of Boris running for the Tory leadership as “a fantasy”. But James Duddridge, Boris’s former parliamentary private secretary, wrote on Twitter: “Hope you enjoyed your extended holiday. It is time to come back, Boris.”
Michael Fabricant, the MP for Lichfield, and Paul Bristow, the MP for Peterborough, have also signalled their support for the return of Boris to No 10. And there is no doubt he remains popular among party members. The rules of the latest contest to find a new leader is being drawn up by the 1922 committee.
Brady, who runs it, told reporters: “I have spoken to the party chairman, Jake Berry, and he has confirmed that it will be possible to conduct a ballot and conclude a leadership election by 28th of October.”
