Rishi is ready to run again: Former Chancellor’s allies insist only he can steady the Tory ship 

• Rishi Sunak’s allies have been insisting he is the right choice to be Prime Minister
• The Richmond MP lost the last Conservative leadership against Liz Truss 
• Dominic Raab said he has the ‘plan and credibility’ to ‘restore financial stability’

Rishi Sunak was preparing his leadership bid from his Yorkshire constituency last night after Liz Truss’s departure gave him a second chance to be prime minister.

The former chancellor has kept a deliberately low profile since he lost to rival Miss Truss in the final round of the last Tory contest on September 5.

But he never fully disbanded his team of supporters and last night allies including ex-education secretary Sir Gavin Williamson were drumming up support for another run. In what appeared to be a coordinated effort, more than 20 Tory MPs publicly declared they were backing him as party leader.

Allies, including former foreign secretary Dominic Raab, praised him as the ‘most qualified’ candidate to lead the country through the economic crisis. Mr Raab said Mr Sunak has the ‘plan and credibility’ to ‘restore financial stability’ and ‘unite the Conservatives’ after weeks of turmoil in No10.

The former chancellor was in his constituency of Richmond in North Yorkshire yesterday – some 250 miles away from Westminster – when Miss Truss resigned.

Rishi Sunak’s allies have insisted he has the ‘plan and credibility’ to ‘restore financial stability’ following Liz Truss’s disastrous premiership 

Mr Sunak lost the Conservative leadership election against Liz Triss – but still has many supporters within the party

Mr Sunak, whose resignation from Cabinet triggered Boris Johnson’s downfall, had been the original frontrunner in this summer’s leadership race. But he lost out in the final round amid accusations of backstabbing and a series of gaffes.

This included a controversial talk in affluent Tunbridge Wells, Kent, in which he boasted that he had diverted money from ‘deprived urban areas’ to wealthier parts.

Mr Sunak is expected to be joined by several colleagues in the upcoming race, who will spend the weekend vying for the support of MPs before nominations close on Monday.

Ex-PM Mr Johnson is expected to stand but faces questions over whether he can win the backing of 100 of his colleagues less than two months after leaving office.

However allies claim Mr Johnson can ‘honestly say’ he has a mandate for government, and has the ability to ‘turn the tide and avert the disaster of a Labour government’.

Penny Mordaunt, the Commons Leader, is also expected to run after coming third in the last contest.

Mr Sunak is expected to be joined by several colleagues in the upcoming race, who will spend the weekend vying for the support of MPs before nominations close on Monday

Mr Sunak’s last leadership campaign was marred by gaffes such as when he gave a controversial talk in affluent Tunbridge Wells, Kent, in which he boasted that he had diverted money from ‘deprived urban areas’ to wealthier parts

Other possible candidates include ex-home secretary Suella Braverman, Defence Secretary Ben Wallace and International Trade Secretary Kemi Badenoch. Justice Secretary Brandon Lewis could also run with allies saying that he ‘hasn’t made any decisions’ but MPs were ‘turning towards him in a way that we haven’t seen before’.

Newly-appointed Home Secretary Grant Shapps ruled himself out of the race, saying: ‘It’s a tremendous privilege to be leading the Home Office in its task of protecting the British people. Government goes on, despite the current political upheavals, and I will remain fully focused on the job as we select the next PM.’

The then-transport secretary pitched himself as ‘Mr Spreadsheet’ during the last leadership contest before withdrawing and throwing his weight behind Mr Sunak.

Foreign Secretary James Cleverly also said he would not run yesterday, with allies saying he wanted to remain in the Foreign Office. Sources close to Chancellor Jeremy Hunt added that he would not be standing, after he said earlier this week that he, his wife and his children had ruled it out.

Allies of former Cabinet minister Michael Gove confirmed he too would not be standing.

Tory former leader Sir Iain Duncan Smith said he thought the race is ‘completely wide open’.

‘If Boris stands then it is like a rock going into a small puddle, it just displaces,’ he said.

It came as former Cabinet minister Robert Jenrick warned the party faces possible ‘extinction’.

He told The News Agents podcast: ‘This isn’t an ordinary leadership contest. It’s more extraordinary than the one we had in the summer.

‘If we get this wrong, the country will face a very serious period of further instability and the Conservative Party will lose the next general election, potentially cease to exist.’

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