Boris Johnson pulls out of leadership race: Sunak could be new PM by end of today

Boris Johnson dramatically pulled out of the race for No 10.

The former prime minister had been on holiday in the Caribbean but rushed back to England to contest the leadership race.

His main opponent, former Chancellor Rishi Sunak, is way out in front having picked up more than the 100 nominations needed. Peggy Mordaunt, the other candidate, has so far fallen well short of the required number and if she fails to reach that target by 2pm GMT this afternoon, Rishi Sunak will automatically become the UK’s third prime minister this year.