Prime Minister Liz Truss announced her resignation on Thursday.
Truss said he will remain in the post until a new leader is elected for his party.
Following the resignation of Liz Truss as Prime Minister, it has been decided that Britain’s next Prime Minister will be chosen within a week, according to reports.
Speaking as she announced her resignation in Downing Street shortly after 1.30pm today, Liz Truss said: “This morning I met Sir Graham Brady, the chairman of the 1922 committee, and we agreed that a leadership election would be held within the next week.”
Truss said he would remain in the post until a new leader was elected for his party.
1922 Liz Truss announced her resignation after talks with Graham Brady, leader of an influential group of Conservative MPs, and her close allies, Deputy Prime Minister Therese Coffey and Conservative Party Chairman Jake Berry.
Following the meeting, Sir Graham Brady, chairman of the Conservative 1922 Committee, told reporters in Westminster that a new leader had to be chosen by October 28 for the Halloween Budget.
The Conservatives now face a race to elect a new leader, with leading prime ministerial candidates including former finance minister Rishi Sunak, Commons leader Penny Mordaunt and current finance minister Jeremy Hunt.
The Conservatives are now set to appoint a third prime minister following Boris Johnson’s victory in December 2019.