Graham Brady says new prime minister will be in place before fiscal statement

Sir Graham Brady has revealed that the new prime minister should be selected by Friday, 28 October.

Speaking outside parliament, he also said it’s expected that Conservative Party members will vote in the leadership competition.

“We’re deeply conscious of the imperative of the national interest of resolving this clearly and quickly,” the 1922 Committee chair said.

Jeremy Hunt is set to make his next fiscal statement on 31 October, by which time Liz Truss’s successor should be in place.

Liz Truss resigned on Thursday (20 October) after just 45 days in office.

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