Lawmakers from the ruling Conservative Party in the United Kingdom (UK) will hold a preliminary vote (FT) on Monday to choose candidates to succeed Liz Truss, who announced her resignation yesterday. Party members will then choose from the final two candidates in an online poll next Friday. The victor will become the UK’s fourth prime minister in four years and take the helm of a country rattled by inflation and market turmoil under Truss’s six week tenure.
Ex–finance minister Rishi Sunak, who opposed Truss’s controversial tax cuts, is expected to stand for the role. Former Home Secretary Suella Braverman, an immigration hard-liner, and former Prime Minister Boris Johnson could also join (The Economist) the race. Markets have calmed after Truss’s second finance minister reversed her budgetary plans, but the Conservative Party still trails the opposition Labour Party by around 30 percent in opinion polls.
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