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Sir Graham Brady, chairman of the powerful 1922 Committee of Tory backbenchers, has said the party will have a new leader by Friday.

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.

As former PM appears set to launch a new Tory leadership bid, we look back on the moments that forced him out of Downing Street just months ago

The ex-chancellor lost out to Liz Truss in the last leadership contest just six weeks ago after warning her tax plans would bring turmoil.

The former chancellor is the favourite to succeed Liz Truss, with Boris Johnson also trying to become a candidate

He already has enough backing to take part in the vote

Only a few months ago they had issued statements accusing the ex PM of "errors of judgement" and a lack of "integrity" as well as damaging the party and the country

Conservative rivals Boris Johnson and Rishi Sunak held face-to-face talks late Saturday, reports said, as the feuding pair who once headed Britain's government were poised to battle for the leadership of their fractured ruling party. Former prime minister Johnson, who returned from a Caribbean holiday earlier in the day aiming…

Boris Johnson and Rishi Sunak have a rocky relationship after the Chancellor quit in a move that led to the Prime Minister being toppled in July - now they're facing off for PM