Rishi Sunak is the favorite to become Britain’s next prime minister after Boris Johnson withdrew from the race for the leadership of the Conservative Party, replacing Liz Truss, who resigned last week after the economic downturn.
With the endorsement of around 150 Conservative MPs, Sunak – who served as chancellor under Johnson – has emerged as the front-runner in the Tory leadership race.
Only one other challenger, Penny Mordant, reportedly has the support of fewer than 30 MPs. A candidate needs the nominations of at least 100 MPs to stand in the race.
Johnson had raced home from a vacation in the Caribbean to try to win the support of 100 lawmakers to replace Truss, the woman who replaced him in September when he resigned amid a string of scandals. was forced to give.
He said late on Sunday that he had secured the support of 102 lawmakers and could be “back in Downing Street”, but that he would not persuade Sunak or other contenders Mordant to join “in the national interest”. I have failed.
“I believe I have a lot to offer but I’m afraid it’s not the right time,” Johnson said.
The former prime minister had the public support of just under 60 Conservative lawmakers as of Sunday.
Johnson’s statement likely paves the way for his rival, the 42-year-old Sunak, to become prime minister as early as Monday.
If confirmed, he would replace Truss, who was forced to resign after he launched an economic program that sent financial markets into turmoil. According to the rules, if only one candidate gets the support of 100 Conservative lawmakers, he will be named prime minister on Monday.
If two candidates pass that threshold, they will go on to a party membership vote, with the winner to be announced on Friday, days before new finance minister Jeremy Hunt announces the release of the budget. The plan clarified the state of the country’s finances. On October 31
