After Liz Truss' dramatic resignation as British Prime Minister, the Conservative Party MPs have started to endorse prospective candidates for 10 Downing Street. According to the latest public declarations of support for the Tory leadership contest, former Chancellor of the Exchequer Rishi Sunak has the support of 44 Conservative MPs.

On Friday night, Sunak passed the threshold for his name to be on the ballot box on Monday. He has the backing of over 100 members of parliament from the Conservative Party.

Sunak had finished a close second to Truss in the previous leadership election held about seven weeks ago. Former PM Boris Johnson — who had resigned in disgrace on September 6 — has the public support of 26 MPs, and Penny Mordaunt, Leader of the House of Commons, received 15 endorsements.

Here's where we are on latest *public* declarations of support for Tory leadership contest

Rishi Sunak - 44Boris Johnson - 26Penny Mordaunt - 15This is just what we can see publicly - Boris Johnson's backers say he's got over 50, Sunak & Mordaunt expect big numbers today— Steven Swinford (@Steven_Swinford) October 21, 2022

Meanwhile, bookies' odds favour Rishi Sunak. The former finance minister, who had forecast much of the economic crisis unleashed by Truss' mini-budget, is seen as a safe pair of hands to take charge.

The 42-year-old holds a solid 55 percent lead with the Oddschecker betting odds aggregator, followed by a 29 percent chance of Johnson making a comeback.

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Third-placed in what is emerging as a three-way contest is Mordaunt, who had polled third in the first round of parliamentary votes to shortlist candidates for the last leadership race.

"I back Rishi Sunak to be our next PM. He has the plan and credibility to: restore financial stability, help get inflation down and deliver sustainable tax cuts over time; and unite the Conservatives by bringing the best talent into government to deliver for the British people," tweeted former British Cabinet minister Dominic Raab, among the first of nearly 50 MPs to openly declare support for Sunak.

Amid Opposition calls for an immediate general election, there is a frenzy among the governing Tories to find a successor for Truss, who now holds the ignominious title of being the shortest-lived resident of 10 Downing Street after resigning on Thursday just 44 days after taking office.

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Under the rules set for this Tory leadership race, a candidate must have at least 100 members of Parliament backing them to make the shortlist by the Monday 2 pm local time deadline. A comeback for partygate-hit Johnson is increasingly looking likely, with reports that he has the support of around 140 MPs.

The former prime minister, who was holidaying in the Caribbean, is believed to be on a flight back to get his leadership campaign going quickly. "I'm backing Boris #BorisorBust," tweeted UK Business Secretary Jacob Rees-Mogg, one of the head cheerleaders in the Johnson camp.

However, there are several others who have expressed their shock and dismay at the possibility, given that Johnson still faces a parliamentary inquiry over whether he misled the House of Commons on the parties held at Downing Street under his watch.

Polling suggests Johnson, who led the Tories to a thumping majority in the 2019 general election, remains popular with the wider party membership. Johnson's return would mark a dramatic comeback, having been dragged out of office by his Cabinet and MPs only 45 days ago.

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Mordaunt and her supporters are also said to be tallying up the numbers in her favour. A maximum of three finalists are possible, given the Tory tally of 357 MPs in the Commons.

The MPs will then hold an "indicative" ballot to pick the final two, with the winner then decided in an online vote of party members. If the 170,000 Tory members do get a vote on the top two contenders, the new leader will be declared by next Friday. However, should Tory MPs manage to agree on one candidate, the contest could be over on Monday.

Meanwhile, Truss remains caretaker Prime Minister until her successor has been elected and appointed by King Charles III. She resigned on Thursday after a brief tenure riddled with policy U-turns amid a spiraling economic crisis triggered by a controversial unfunded tax-cutting mini-budget last month that sent the financial markets into turmoil.

(With inputs from PTI)

First Published:Oct 21, 2022 7:54 PM IST