Kemi Badenoch is the bookies’ favourite to replace Rishi Sunak as the next leader of the Conservative Party after Jeremy Hunt ruled himself out of the race.
After leading the Conservatives to their worst general election result, Mr Sunak said he would quit as party leader once arrangements were in place to choose his successor.
Meanwhile, former junior minister Stuart Andrew was announced as interim Tory chief whip after his predecessor Simon Hart lost his seat in Thursday’s rout.
It is understood that former chancellor Mr Hunt will not launch a bid.
He told GB News the “time has passed”.
He is a two-time former leadership hopeful, having unsuccessfully stood against Boris Johnson in 2019 when Theresa May resigned, and again in 2022 after Mr Johnson’s downfall.
Mr Hunt, who narrowly held off a Liberal Democrat challenge in Godalming and Ash, said in his victory speech that the Conservatives’ “crushing” defeat was a “bitter pill to swallow” for the party.
His refusal to run may come as a disappointment to Tory centrists who want to prevent the party lurching to the right.
Suella Braverman is expected to throw her hat into the ring in what could be an acrimonious contest which could shape the party for years to come as right-wingers and more moderate Tories battle it out.
Asked whether she would be the next party leader, the former home secretary told broadcasters outside her home: “No announcements. We’ve just got to take our time, we’ve got to figure out what the situation is.”
She continued: “It’s been a really bad result. There’s no two ways about it. Hundreds of excellent Tory MPs have been kicked out of office.”
Betfair Exchange spokesperson Sam Rosbottom added: “As punters predicted, it was a disastrous night for the Tories who took an almighty battering with their surviving MPs left to pick up the pieces, and with Rishi Sunak’s future in doubt it looks as though we’re about to see another Conservative leadership race.
“Betfair Exchange punters are now convinced the person to replace Sunak will be Kemi Badenoch who is now at 2/1 to lead the party in opposition, she has been the favourite for some time and has been further backed in from 9/2 before the exit poll.”
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