The winner of the Conservative Leadership Contest will be announced on September 5, and some candidates could be eliminated from the race today.
Eleven Conservative candidates have thrown their hats in the ring, but those who do not get the support of 20 MPs will not appear in the first ballot, which will take place tomorrow.
The bar will be gradually raised and candidates will require the support of 30 MPs to take part in a second ballot on Thursday.
Politics Hub: Poll reveals who party members support: live updates
In the coming days, more votes could be held if the number of candidates is not reduced fast enough.
Two finalist candidates for the Conservative Party members will then be presented, who will be able to choose their preferred leader by ballot.
Boris Johnson will remain as prime minister until the result is announced in early September.
Jacob Rees-Mogg has now been ruled out of the race to lead the Conservatives, and Interior Minister Priti Patel is expected to announce his intention to run soon.
Nominations will open and close today, meaning time is of the essence for those who have not yet declared a leadership candidacy.
Former Chancellor Rishi Sunak, who started the avalanche of resignations last week along with Sajid Javid, is leading the way with nearly 40 followers, and that would be enough to move to Thursday’s second ballot.
Trade policy minister Penny Mordaunt has also exceeded the threshold of 20 MPs to be nominated, as has Tom Tugendhat, chairman of the Select Committee on Foreign Affairs.
But just days after Mr Johnson announced his resignation last Thursday, there were warnings that the competition could turn bitter as potential candidates submitted plans to cut taxes.
Read more: Who are the candidates to be the next prime minister? Johnson is determined to hand over the winning 2019 election mandate in the coming weeks
“This is not Game of Thrones”
Javid has called the current battle “poisonous” and told rivals, “This is not House Of Cards or Game of Thrones.”
In a speech in Westminster, he warned that Conservatives would face “electoral oblivion” if they did not change, and urged his colleagues to “unite”.
He added: “I’m sorry to say that, looking at some of the weekend’s press stories, it hasn’t been our best start. Poison gossip, attack notes, launches.
“This isn’t House Of Cards or Game Of Thrones. And the people who are here just because they enjoy the game are in the wrong place.”
During the event, Mr. Javid repeatedly dodged questions about his non-domiciled status before entering politics, as he refused to say where he had settled for tax purposes when asked if he used tax havens.
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3:12 Javid: “Maybe I should have left earlier”
Fiscal plans attract scrutiny
Tax cuts have been a dominant issue for many of the Conservative leadership candidates.
Javid has set out an estimated £ 40bn plan to eliminate the corporate tax increase and national insurance rate he had previously backed, and said he would propose a reduction in income tax.
That would be paid for with the current fiscal margin and “new efficiencies” in government, he said.
Foreign Secretary Liz Truss pledges to cut taxes “from day one” and eliminate the April NI hike, while new Chancellor Nadhim Zahawi has vowed to cut income tax in 2023 and 2024 and abolish green taxes on energy bills for two years.
Attorney General Suella Braverman said there is “no alternative but radical tax cuts” amid the cost of living crisis, while former Secretary of Health and Foreign Affairs Jeremy Hunt said he wanted to “cut all the taxes “.
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1:39 Johnson “determined” the last few weeks
Labor leader Sir Keir Starmer said the Conservatives were taking £ 200bn free of commitments from the “magic money tree” in a “fantastic economy arms race”.
Former Conservative Chancellor Lord Lamont warned that leadership competition was coming down to a “Dutch auction” and that “irresponsible and unfunded tax cuts” would raise interest rates.
Sunak, who launches his campaign today, will describe his economic plan to “tackle inflation, grow the economy and reduce taxes,” once inflation is under control.
“We need a return to conservative traditional economic values, and that means honesty and responsibility, not fairy tales,” he will say.
Johnson has said he will not support any of the candidates as he “would not want to harm anyone’s chances”.
Image: Conservative leadership candidates
Sky News is hosting a live TV debate with contenders vying to be the next Conservative party leader and therefore prime minister, and you could be in the virtual audience.
The debate will take place on Monday 18 July by Sky News presenter Kay Burley.
If you would like to be a member of the virtual audience and have the opportunity to ask a question, please email NewsDebates@sky.uk.