Rishi Sunak confirmed as new prime minister after Penny Mordaunt drops out
Penny Mordaunt has dropped out of the contest, which means Rishi Sunak is the next PM
Sir Graham Brady, chair of the 1922 Committee, is making a statement now. He says he can confirm there has been one valid nomination, “and Rishi Sunak is therefore elected as leader of the Conservative party”.
He says Sunak is going to address Tory MPs at 2.30pm in the Commons.
This will be the first time Sunak has spoken in public since Liz Truss resigned.