Liz Truss quit on Thursday as UK’s prime minister as her tenure forced her out after her mini budget and other economic programmers left the country’s financial stability in jeopardy, leaving many people poorer.
The British Conservative Party will now elect a new leader by October 28. Truss’ successor will be the sovereign nation’s fifth prime minister in six years.
While a Tory leadership contest typically involves campaign events or hustings, televised debates, and a formal vote among the party’s roughly 200,000 dues-paying members, who act as the final decision-makers.
This time, the processes will be streamlined and the members’ vote will be conducted online – only if the contest goes to a members’ vote at all.
According to the updated Conservative Party rules, all candidates will be required to be backed by at least 100 of their lawmakers in order to be nominated a threshold considerably higher than past contests, the most recent of which featured nearly a dozen leadership contenders.
At least three Conservative candidates could emerge with 100 supporters each (the party has 357 MPs), only then a runoff could be avoided if one contender achieves the requisite support.
Truss’ resignation outside Downing Street, was due to the evaporation of her political authority, which triggered market crashes, followed by the loss of two key ministers, and eventually losing the confidence of majority of her own MPs.
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