Boris Johnson Expected to Run for Tory Leadership

Former UK Prime Minister Boris Johnson is expected to participate in the rally for the Conservative Party's leadership after the resignation of Liz Truss on Thursday, reports indicated.

According to The Times, Johnson is “taking soundings but is said to believe it is a matter of national interest”. 

After stepping down from the office, Johnson teased his comeback again.

The competition for winning Tory's leadership kicked off once Truss announced her resignation, stating that she "cannot deliver the mandate on which I was elected by the Conservative Party."

Truss highlighted that she agreed with the Conservative party's Chairman of the 1922 Committee that "there will be a leadership election to be completed within the next week," and she will stay in office "until a successor has been chosen".

On the other hand, Labour demanded a general election, while Tory leadership wants to ensure their chances of taking over. 

Until now, the names of former minister Rishi Sunak, defence minister Ben Wallace, Penny Mordaunt and Suella Braverman, who resigned as Home Secretary, are expected to run for the party's leadership.

However, Sunak and Mordaunt could be the most fortunate names in the rally.

Experts believe that the presence of Sunak and Hunt would help in calming the chaotic performance of the markets.

Leading market analyst Chris Beauchamp said: "An initial bounce in the pound has begun to fade, as the implications of yet another period of uncertainty sink in. But given how quick the change is expected, and with the chancellor likely to stay in place, we should expect market tensions to calm."

He added: "In all likelihood Rishi is ready to step in, and with Hunt in alignment with him we can expect a very different approach, but one more likely to please markets."

The Tory Committee will choose the new leader next Friday.

Graham Brady said: "I have spoken to the party chairman Jake Berry and he has confirmed that it will be possible to conduct a ballot and conclude a leadership election by Friday, 28 October."