UK's defeated Conservatives start race for new leader

Britain’s defeated Conservatives will spend more than three months picking a new leader to replace former Prime Minister Rishi Sunak.

Sunak will remain acting leader until his successor is announced in November.

The right-of-centre party was kicked out by voters in a July 4 election that brought a Labour landslide, ending 14 years in power under five prime ministers.

The Conservatives were reduced to 121 seats in the 650-seat House of Commons, their worst-ever result.

The party said nominations would open on Wednesday and close five days later.

Any Conservative MP can run if they get the support of 10 colleagues.

Conservative MPs will narrow the field through a series of votes to four contenders, who will make pitches to members at the party’s annual conference in October.

MPs will then choose two final candidates, who will be put to an online vote of Conservative members across the country.

“It’s in the national interest for us to have a smooth and orderly transition to a new leader of the opposition so I will stay in post until November 2 and the result of our leadership election,” Sunak said.

Members chose Liz Truss over Sunak in the party’s last contested leadership selection in mid-2022.

Truss resigned after just 49 days in office when her tax-cutting plans rocked the financial markets and battered the value of the pound.

The party then chose Sunak to replace her.

After its devastating election defeat, the party is divided between moderates who want to cleave to the political centre and hardliners who want an even tougher stance on migration and law and order.

Several Tory MPs have suggested they will run, including former home secretary James Cleverly and MP Tom Tugendhat, both considered moderates, and former immigration minister Robert Jenrick and ex-business secretary Kemi Badenoch from the right of the party.