Curator Leadership Contest: How the Week Will Unfold

The Tories are scrambling to elect a new leader this week, with a new prime minister promised by Friday.

It has been just seven weeks since Liz Truss won the last party leadership election after Boris Johnson resigned amid a series of scandals.

However, Ms Truss was forced to resign last Thursday after markets rejected her mini-budget.

Sir Graham Brady, chairman of the powerful 1922 Tory backbench committee, said the election process will be concluded by October 28 so the new leader is in place in time for a crucial financial statement on October 31 october.

Chairman of the 1922 Committee of Backbench Conservatives Sir Graham Brady (Stefan Rousseau/PA)

Sir Graham said the parliamentary phase of the contest started last Thursday afternoon, with nominations open.

– What will happen on Monday?

The parliamentary stage of the Conservative leadership race will end on Monday.

Candidates will need a minimum of 100 nominating colleagues to conduct the ballot.

“We have set a high threshold but one which should be achievable by any serious candidate who has the prospect of passing,” said Sir Graham.

He said that would mean a maximum of three candidates on the ballot for MPs to vote.

If there are three, the candidate with the fewest votes after the first round will be eliminated. This first round will be held between 3:30 p.m. and 5:30 p.m. Monday and the result will be announced at 6 p.m.

Then, in a procedural change since the last leadership race, there will be an “indicative” vote when there are only two candidates left.

This will take place between 6:30 and 8:30 p.m. on Monday, with the result announced at 9 p.m.

Perhaps the hope is that the loser of the ‘indicative’ vote can drop out of the race, in which case a new leader emerges without the involvement of Conservative party members.

When David Cameron resigned, the leadership race was not put to a vote by party members, as Theresa May went unopposed after Andrea Leadsom withdrew from the race.

If neither gives up, this final vote by MPs will allow Tory MPs to know – something they did not in the last election – the favorite of the two parliamentary party candidates, potentially dissuading them from choosing the ‘other.

Conservative Party Conference 2022
Conservative Party Chairman Sir Jake Berry (Jacob King/PA)

– What happens after the deputies vote?

If two candidates end up staying, Conservative members across the country who joined the party at least three months ago will have their say.

Conservative party chairman Sir Jake Berry said: ‘We have decided that if the party decides to field two candidates there will be a fast-track and binding online vote of Conservative Party members to choose their next leader.

Voting will close at 11 a.m. on October 28, with the result to be announced later in the day.

– Will there be hustings?

Sir Jake said Conservative headquarters will work with broadcasters to organize a broadcast event so members can hear from the final two candidates before casting their ballots.

However, no election campaign has been announced.