Rishi Sunak to Boris Johnson: 5 top contenders who can replace Liz Truss

British Prime Minister Liz Truss resigned Thursday, bringing to a close a brief 44-day tenure mired by “mini-budget” chaos, economic turmoil and political infighting. Until a replacement is selected, Truss said she will serve as caretaker prime minister. A leadership election is anticipated to take place over the course of the next week.

Among the apparent frontrunners to succeed Truss are Rishi Sunak, Penny Mordaunt, and even the former British prime minister Boris Johnson.

Also Read | Liz Truss resigns amid massive economic crisis, becomes shortest-serving PM in UK history

Boris Johnson

Despite being removed from power only three months ago, several Tory MPs have speculated that the former prime minister Boris Johnson may run again.

Nadine Dorries, a close supporter of Johnson's and a former culture minister, stated on Twitter on Thursday that Johnson was the sole MP who had received "a mandate from party members and the British public" by winning the general election.

Prior to losing credibility in the last months of his tenure due to political controversy around his connections to disgraced MP Chris Pincher and COVID-19 rule-breaking, Johnson had previously had high levels of popularity.

The 58-year-old hasn't discussed his ambitions for a second leadership run in a while, but he hinted at it in his farewell address when he said, "Hasta la vista, baby," or "see you later."

Also Read | Majority of Tory members believe Liz Truss should resign, reveals latest poll

Rishi Sunak

Truss' primary rival in this year's contest for the Conservative Party leadership, Rishi Sunak, is now seen to be the favourite to succeed her.

Despite falling short to Truss in the last round of voting by Tory members, he was the most popular MP for the party and is regarded as a trustworthy steward of the budget. Indeed, Truss' criticism of the PM's "unfunded tax cuts" seems to have been vindicated after he was criticised by Truss during the campaign for speaking for Treasury orthodoxy.

Supporters view the 42-year-old as well-suited to guide the nation through its escalating cost-of-living issue since he is credited for guiding the U.K. economy through the height of the COVID-19 outbreak. His role in the removal of Boris Johnson and his involvement in the tax-related scandal surrounding his wife have raised concerns about his capacity to bring the fractured Conservative Party back together.

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Ben Wallace

While the Tory party has been in uproar, Defense Secretary Ben Wallace has maintained a relatively quiet profile while garnering recognition for his role in directing the U.K.'s support for Ukraine.

He was widely regarded as the front-runner to succeed Johnson among MPs but withdrew from the leadership election this summer citing conversations with "colleagues and family."

Given that he told media that he wished to stay in his current position, it is uncertain if he will run this time. He did, however, make it clear that if the government did not agree to his plans for defence expenditure, he would probably leave his position.

Jeremy Hunt

Jeremy Hunt, the country's new finance minister, was appointed to replace Kwasi Kwarteng and is seen as the most influential person in the cabinet after taking over Truss' economic strategy and bringing order to the markets.

Having previously held a number of high government roles, including those of foreign secretary, health secretary, and cultural secretary, the 55-year-old is seen as a reliable alternative. But after failing in a number of earlier attempts to win the presidency, he allegedly withdrew on Thursday.

Also Read | 5 key challenges Liz Truss faces as UK's new Prime Minister

Penny Mordaunt

Prior to placing third behind Truss and Sunak in the leadership campaign this summer, the former defence secretary Penny Mordaunt shot to fame.

Generally seen as a consensus choice, Mordaunt trailed Sunak in the MP vote until the decisive round of the contest and has subsequently maintained connections with Tory MPs in her present position as House of Commons leader.

The 49-year-old was also relatively unaffected by the commotion surrounding Johnson's resignation, and she has subsequently proven her leadership abilities in the turbulent first few weeks of Truss' premiership.