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Tory leadership: Who will be the next prime minister? Tory leadership: Who will be the next prime minister?
(about 1 hour later)
Conservative MPs are throwing their hats into the ring to become the next Tory leader and prime minister, as Theresa May steps down. Ten Conservative MPs will battle it out to be the next Tory leader and prime minister, after gaining support from fellow MPs.
Here is a list of the contenders who have said they are entering the contest, which starts on Monday, 10 June. The first vote will take place on Thursday, 13 June, as Tory MPs try to whittle down the list to two candidates. Members of the wider Conservative Party will then get a chance to vote for their preferred choice.
The deadline for nominations is Monday. But as well as committing to standing, candidates must get enough backers to even take part. Here is a list of the candidates who made the shortlist.
The party recently decided to change the rules for the contest in order to speed up the process. Candidates had to have the backing of eight fellow MPs to make the shortlist, after the party decided to change the contest rules in order to speed up the process.
Candidates now need the backing of eight colleagues - previously they only required two. Some MPs have already indicated where their allegiances lie. Thirteen MPs publically declared they were standing after Theresa May announced she was standing down as prime minister.
The order changes slightly if you look at where the support lies among party members - as shown in this survey by ConservativeHome at the end of May. Kit Malthouse and James Cleverly later withdrew and, minutes before the Monday deadline, backbencher Sam Gyimah also pulled out.
Some candidates have spent many years in senior positions, both as shadow ministers when in Opposition, or as ministers and in the Cabinet. Of those still standing, some candidates have spent many years in senior positions, both as shadow ministers when in Opposition, or as ministers and in the Cabinet.
Those who make it to the first ballot on Thursday, 13 June, need to win at least 17 votes in the first round and 33 votes in the second to proceed further. The candidates on Thursday's ballot paper need to win at least 17 votes in the first round and 33 votes in the second to proceed further.
There will then be a series of hustings around the UK for those left in the race, followed by a postal ballot of 160,000 Conservative Party members. There will then be a series of debates, known as hustings, around the UK for those left in the race, followed by a postal ballot of 160,000 Conservative Party members.
The winner will be known during the week beginning 22 July. The winner is likely to be announced during the week beginning 22 July.
A fool and his, or her, money are soon parted, but the bookies are also taking a guess at who is out in front. A fool and his, or her, money are soon parted, but on Monday morning bookies were taking a guess at who would be out in front.