The Latest Breaking News from Conservative Party

Rishi Sunak and Penny Mordaunt are seeking to succeed Liz Truss as Conservative Party leader and the country's PM

Former Treasury chief Rishi Sunak is set to become Britain’s next prime minister after winning the Conservative leadership race Monday — and now faces the huge task of stabilizing the party and country at a time of economic and political turbulence.

The former finance minister emerges as the frontrunner to replace Liz Truss, who resigned amid an economic turmoil.

Rishi Sunak and Penny Mordaunt face off in the race for No 10 after ex-PM said it is ‘not the right time’ for him to stand.

LONDON — Boris Johnson pulled out of the contest to lead the U.K.’s ruling Conservative Party, leaving Rishi Sunak on the brink of becoming the next prime minister.

Treasury chief Rishi Sunak is now the strong favorite to become Britain's next prime minister — the third this year — at a time of political turmoil and severe economic challenges.

He claims to have reached 102 backers, although only 57 MPS had publicly declared their support for him

Boris Johnson on Sunday night said he had pulled out of the race to become Britain's next prime minister, saying he realised the country and the Conservative Party needed unity.

Ex-prime minister claims there was a ‘very good chance’ he could have returned to No 10

LONDON — Boris Johnson pulled out of the race to lead the U.K.’s ruling Conservative Party and the nation, leaving Rishi Sunak on the brink of becoming the next prime minister.

Mr Johnson said: “In the last few days I have been overwhelmed by the number of people who suggested that I should once again contest the Conservative Party leadership".