Liz Truss resigns: UK's Tory rivals open truncated leadership race

On Friday, contenders bidding to succeed Prime Minister Liz Truss were to open a hectic weekend of campaigning, but opposition parties demanded that UK voters get their own say to end months of political chaos.

After only 44 days in office, packed with an economic crisis largely of her own making, the Conservative leader announced that she was stepping down, on Thursday.

Truss admitted she "cannot deliver the mandate" on which she was elected by Tory members, after her right-wing platform of tax cuts disintegrated, and many Conservative MPs revolted.

She succeeded Boris Johnson on September 6, after weeks of campaigning against Tory rival Rishi Sunak, vowing a radical overhaul, as Britons struggle with a cost-of-living crisis.

Having correctly predicted the disastrous consequences of her debt-fuelled tax promises, former finance minister Sunak has emerged as an early favourite to succeed Truss.

However, the scandal-ridden Johnson may also be in the mix for a dramatic comeback bid, despite leaving Downing Street with dismal poll ratings.

On Thursday, likely contenders were keeping their powder dry in the immediate hours after party managers announced a truncated election process leading up to a result on October 28.

While supporters of Sunak and Johnson were quick to promote their merits, others, such as senior cabinet members Penny Mordaunt and Ben Wallace, were reportedly mulling their own runs. Some, including new finance minister Jeremy Hunt, have already ruled themselves out.

Former minister Tim Loughton urged the four "big beasts" — Sunak, Mordaunt, Hunt and Wallace — to agree on a unity candidate, so that "we can get back to some degree of normality".

Other candidates could include a representative of the party's right, such as Suella Braverman, whose resignation as interior minister on Wednesday helped trigger Truss' downfall.

Brexiteer right-wingers and other factions "need to park all those egos" and work together, given the gravity of the economic situation, Loughton told BBC radio.

"We need to have a united and talented cabinet of grown-ups who come together and get us back on course," he added.

Whoever does stand will not have long to make their case, and will have to overcome some difficult obstacles.

They have until 2pm local time (13.00 GMT) on Monday to produce at least 100 nominations from their fellow Tory MPs.

That means a maximum of three candidates will emerge from among the 357 Conservatives in the House of Commons.

The MPs will vote to leave two candidates standing, and hold another "indicative" vote to tell the party membership their preferred option.

The rank-and-file will then have their say in an online ballot over the course of next week, unless a single candidate emerges from the MPs' deliberations in an effective coronation.

For Labour and other opposition parties, the governing party is showing contempt towards the electorate.

"We need to climb out of the hole the Tories have dug us into. That probably does mean a change of government," he added, as the left-leaning Daily Mirror demanded: "General election now."