The Conservative party has confirmed that Rishi Sunak's successor as leader will be revealed on November 2. The former prime minister will continue to serve as acting leader until July 4th, the party announced.

On July 4th, he guided the Conservatives to their worst-ever defeat. The window for nominations to succeed Mr. Sunak will open on Wednesday at 7 p.m. and close on Monday at 2.30 p.m. After discussions between the 1922 committee of backbench MPs and the Conservative Party board, it was determined that candidates would require the support of ten MPs in order to be considered for the ballot: a proposer, a seconder, and eight nominations. Following that, four candidates will be selected by Tory MPs and presented to the party at the autumn Conservative conference.

The four candidates will then be whittled down to the final two candidates, with the winner chosen by party members.

A number of Conservative MPs have been making noises about standing in the leadership election, including former work and pensions secretary Mel Stride.

Former business secretary Kemi Badenoch and ex-foreign secretary James Cleverly are expected to pitch themselves as candidates aiming to bring the right and centrist wings of the party together after the humiliating defeat on 4 July.

Robert Jenrick, the former immigration minister, and Priti Patel, the ex-home secretary are touted to represent the right of the party.

Tom Tugendhat and ex-work and pensions secretary Mel Stride are expected to run as centrist candidates.