Britain is preparing to elect its fifth prime minister in six years.
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LONDON — The UK is poised to install a new prime minister this week for the fifth time in six years. Liz Truss’ sudden resignationOnly 44 days left to work.
Truss’ successor will once again be determined by a Conservative Party leadership contest, which will be removed from a short list of candidates.
This time, however, the process quickly entered the one-week space as the party tried to recover its credibility and secure the markets after a while. terrible month of economic turmoil Under Truss’ government.
weekend two Tory hopes they literally threw their hats in the ring to stab the best job. These include frontrunner Rishi Sunak and third-place Penny Mordaunt, who lost to Truss in September’s leadership race.
Former Prime Minister Boris Johnson, who was dismissed in a scandal three months ago, said: Withdrew from the race on behalf of the party union on Sundayalthough it previously claimed to have the necessary support to enter.
The two remaining candidates have since rallied around their MPs (MPs) to collect the minimum vote threshold needed to qualify for the final runoff. How the race is expected to unfold in the coming days, or potentially within hours.
Monday 24, 14: MPs present their candidacy
Candidates have until 14:00 London time on Monday to gain the support of 100 MPs and thus enter the ballot for the party leader.
The threshold is particularly high, given that the party consists of 357 deputies and each is only allowed to vote for one candidate. This limits the number of possible contestants to three.
As of 06:00 on Monday morning, Sunak received the public support of 155 deputies and Mordaunt nominated 25 candidates, according to the BBC.
All MPs will have to submit their nominations by email or signature by 14:00, after which the results will be announced.
If only one candidate gets the required 100 votes, he will automatically win the race and become the next prime minister of the UK.
Monday 24, 18:00 – First vote of MPs
If two or more candidates reach 100 nominations, the contest will continue Monday afternoon with decisive voting.
The first vote of the deputies will be held between 15.00-17.30 and the results will be announced at 18.00.
The Conservative Party in the UK is following an accelerated version of the leadership race it ran earlier this year.
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If there are only two candidates at this stage, it is thought that the candidate with the fewest votes will resign to avoid online voting among party members. But this is no guarantee.
In case of three candidates, the one with the fewest votes will be eliminated and a second ballot will take place.
Monday 24, 9 pm — Second vote of MPs
If necessary, a second indicative vote will take place between 18.30 and 20.30 and the result will be announced at 21:00.
At this point, the candidate with the fewest votes can resign. Otherwise, the process will pass to voting among party members.
Friday, 28, 11 – Party member voting ends
If the process goes beyond Monday, Conservative Party members, some 200,000 people representing 0.3% of the British population, will have until 11pm Friday to vote for their preferred candidate in online voting.
The process will be a fast tracked version of the six-week process used. Choose Truss in September. 5.
The winner will be announced later on Friday. King Charles of England will then ask them to form a government, making them the next prime minister in the process.
Monday 31st – UK financial budget?
The new prime minister will only have days to settle down and announce their new Cabinet before the Treasury’s financial budget is set to be announced Monday, October. 31.
The statement will be watched closely by British and international investors alike as newly appointed Finance Minister Jeremy Hunt tries to undo the devastation wrought by the Truss government and his predecessor, Kwasi Kwarteng.
However, questions remain as to whether the budget will proceed as planned, and whether the newly arrived prime minister will actually keep Hunt in the post.
