Liz Truss has resigned from the post of British Prime Minister and this has created a vacuum in the Conservative party and state leadership.
The chairman of the Tory 1922 Committee, Sir Graham Brady, said he expected the new leader to be in place by next Friday.
He said that “I have spoken to party chairman Jake Berry and he has confirmed that it will be possible to hold a ballot and complete the leadership election by Friday, October 28.”
“So, we must have a new leader before the fiscal declaration that will be made on October 31”, he added.
Sir Graham said this was “not a situation” he was hoping to see.
He added that at the moment there are no more details, but greater clarity will be provided soon.
Asked if there will be two candidates, he says that “If there is only one candidate, there is only one candidate”.
Sir Graham said that if there are two candidates, the vote will be regular.