In a statement to cameras outside 10 Downing Street today, 20 October, Liz Truss announced that she would resign as Prime Minister. An election would take place within the next week to elect a new leader of the Conservative party. She would remain as Prime Minister until the leadership election is concluded.
It was subsequently announced that there would be a truncated leadership contest with a threshold of 100 nominations and a maximum of three candidates – clearly geared towards narrowing the field as quickly as possible.