The new prime minister will be in place before the fiscal statement on October 31, Sir Graham Brady, the chairman of the 1922 Committee of backbench Tory MPs, said.Liz Truss signalled the shortest term by any prime minister following a botched financial statement, the loss of two of her most senior Cabinet ministers and an open revolt by Tory MPs.

The new prime minister will be in place before the fiscal statement on October 31, Sir Graham Brady, the chairman of the 1922 Committee of backbench Tory MPs, said.Liz Truss signalled the shortest term by any prime minister following a botched financial statement, the loss of two of her most senior Cabinet ministers and an open revolt by Tory MPs.