Live: 1922 Committee chair Sir Graham Brady gives statement as Liz Truss resigns

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Watch live as 1922 Committee chair Sir Graham Brady announces the rules of the coming Tory leadership race.

Liz Truss has announced she is resigning as prime minister after just 45 days in office.

Boris Johnson and Rishi Sunak are expected to stand in the leadership race, reports say, with a new prime minister set to be decided by the end of next week.

The Conservatives could be set for another bitter battle for the top job, six weeks after the last one ended, if the former prime minister faces the chancellor who played a pivotal role in his downfall. Mr Sunak emerged as an early bookies’ favourite.

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