Liz Truss has announced she is resigning as prime minister after just six weeks in the role.
There will be a leadership election within a week, Ms Truss said.
It comes after the chair of the 1922 Committee, Sir Graham Brady entered No 10 for a crisis meeting with the prime minister, followed by party chair Jake Berry.
Ms Truss’ brief stint as leader involved a mini-Budget that spooked the market, the sacking of her close ally and chancellor Kwasi Kwarteng, the resignation of home secretary Suella Braverman and chaos in Westminster around a confidence vote where there were allegations of senior Tories manhandling and bullying colleagues.
UK Home Secretary Suella Braverman resigns
UK inflation accelerates to 40-year high as food prices rise
Just yesterday she told PMQs she is a “fighter not a quitter.”
Conservative MP Simon Hoare said Liz Truss only had 12 hours to save her premiership while Lord David Frost, a former Brexit minister who backed Truss for PM, called for her to go in addition to more than a dozen MPs.