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| Version 1 | Version 2 |
|---|---|
| Tory leadership: Hopefuls face high bar to enter contest to be PM | Tory leadership: Hopefuls face high bar to enter contest to be PM |
| (32 minutes later) | |
| Sir Graham Brady and Jake Berry, flanked by other members of the 1922 committee, outlined the rules of the contest | Sir Graham Brady and Jake Berry, flanked by other members of the 1922 committee, outlined the rules of the contest |
| Conservative leadership hopefuls will need the support of 100 MPs to enter the contest to be the next prime minister, under rules decided by party bosses. | Conservative leadership hopefuls will need the support of 100 MPs to enter the contest to be the next prime minister, under rules decided by party bosses. |
| Ms Truss's resignation after 45 days in office has set off a scramble to find a successor by next Friday. | Ms Truss's resignation after 45 days in office has set off a scramble to find a successor by next Friday. |
| Under party rules, a maximum of three MPs can run and Tory members will vote online if there is a final two. | Under party rules, a maximum of three MPs can run and Tory members will vote online if there is a final two. |
| If one candidate is picked by MPs, they will become party leader on Monday. | If one candidate is picked by MPs, they will become party leader on Monday. |
| Allies of former Prime Minister Boris Johnson, former Chancellor Rishi Sunak, and Commons Leader Penny Mordaunt are urging them to stand for the leadership. | Allies of former Prime Minister Boris Johnson, former Chancellor Rishi Sunak, and Commons Leader Penny Mordaunt are urging them to stand for the leadership. |
| But none have declared leadership bids, while Labour and other opposition parties have called for an immediate general election. | But none have declared leadership bids, while Labour and other opposition parties have called for an immediate general election. |
| Who could replace Liz Truss as prime minister? | Who could replace Liz Truss as prime minister? |
| How will the new PM be chosen? | How will the new PM be chosen? |
| Follow live: Liz Truss resigns | Follow live: Liz Truss resigns |
| Usually, Tory MPs vote to whittle down a field of leadership candidates to two, who progress to a run-off decided by the party's membership. | Usually, Tory MPs vote to whittle down a field of leadership candidates to two, who progress to a run-off decided by the party's membership. |
| The last Tory leaderships contest took two months from the date Mr Johnson announced his resignation as PM in July this year. | The last Tory leaderships contest took two months from the date Mr Johnson announced his resignation as PM in July this year. |
| But there is little appetite for another long and divisive leadership contest so soon after Ms Truss won the last only six weeks ago. | But there is little appetite for another long and divisive leadership contest so soon after Ms Truss won the last only six weeks ago. |
| Instead, Conservative Party bosses have set a higher bar of 100 nominations for Tory MPs to enter the race to replace Ms Truss. | Instead, Conservative Party bosses have set a higher bar of 100 nominations for Tory MPs to enter the race to replace Ms Truss. |
| The contest has been geared towards narrowing the field as quickly as possible, without needing a final vote among party members. | The contest has been geared towards narrowing the field as quickly as possible, without needing a final vote among party members. |
| Even if two candidates go head-to-head in a membership ballot, there will an "indicative vote" among MPs so the Tory grassroots will be in no doubt about the parliamentary party's preferred leader in waiting. | Even if two candidates go head-to-head in a membership ballot, there will an "indicative vote" among MPs so the Tory grassroots will be in no doubt about the parliamentary party's preferred leader in waiting. |
| Sir Graham Brady, the chairman of the 1922 backbench committee of Conservative MPs, said the nomination threshold "should be achievable by any serious candidate". | Sir Graham Brady, the chairman of the 1922 backbench committee of Conservative MPs, said the nomination threshold "should be achievable by any serious candidate". |
| Announcing the rules, Sir Graham said MPs' nominations for candidates will close at 14:00 BST on Monday. | Announcing the rules, Sir Graham said MPs' nominations for candidates will close at 14:00 BST on Monday. |
| He said if there are two candidates with enough nominations when voting closes, there will be a debate - known as a hustings - on Monday. | He said if there are two candidates with enough nominations when voting closes, there will be a debate - known as a hustings - on Monday. |
| When asked if there could be a new prime minister in office by Monday, Sir Graham said "clearly that is the case". | When asked if there could be a new prime minister in office by Monday, Sir Graham said "clearly that is the case". |
| Watch: Watch Liz Truss step down as PM | |
| Watch: Watch Liz Truss step down as PM | |
| In her resignation speech, Ms Truss admitted she "cannot deliver the mandate" on which she was elected by the members, who voted for her tax-cutting economic agenda. | |
| Ms Truss was voted in as Tory leader and prime minister in a ballot of about 160,000 party members, or about 0.3% of the total UK electorate. | |
| Labour leader Sir Keir Starmer, whose party has surged in the polls during Ms Truss's turbulent premiership, said whoever takes over will not have a democratic mandate and demanded a general election "now". | |
| "This is not just a soap opera at the top of the Tory party," he said, accusing the Conservatives of crashing the UK economy. |