Boris Johnson pulls out of Conservative leadership race

Boris Johnson has pulled out of the Conservative leadership race, saying he had the support he needed but "it would simply not be the right thing to do".

Former chancellor Rishi Sunak and cabinet minister Penny Mordaunt remain in the contest.

In a statement, Mr Johnson said there was a "very good chance" he would have been successful, and "back in Downing Street on Friday".

But he said there needed to be "a united party in Parliament".

Mr Johnson said he had been attracted by the contest because: "I led our party into a massive election victory less than three years ago - and I believe I am therefore uniquely placed to avert a general election now.

"A general election would be a further disastrous distraction just when the government must focus on the economic pressures faced by families across the country.

"I believe I am well placed to deliver a Conservative victory in 2024 - and tonight I can confirm that I have cleared the very high hurdle of 102 nominations, including a proposer and a seconder, and I could put my nomination in tomorrow.

"There is a very good chance that I would be successful in the election with Conservative Party members - and that I could indeed be back in Downing Street on Friday.

"But in the course of the last days I have sadly come to the conclusion that this would simply not be the right thing to do.

"You can't govern effectively unless you have a united party in Parliament."

Rishi Sunak tweeted that "we will always be grateful" for Mr Johnson's work in office, including the delivery of Brexit and the vaccine rollout.

"Although he has decided not to run for PM again, I truly hope he continues to contribute to public life at home and abroad," he wrote.

This is a huge development. I've been on the phone tonight to Boris Johnson backers and they were convinced he'd stand. Tonight, confirmation he won't.

In his statement, Mr Johnson says he thinks he could have won the membership and been in Downing Street by Friday. But he concedes he would struggle to unite his party in Parliament.

The former prime minister says he got 102 backers. We can't verify this, the public number is lower and we may never know for sure. It's safe to say many MPs are sceptical he had the number his campaign says.

This all makes Rishi Sunak the firm favourite. But Penny Mordaunt will be trying over the next few hours to win over Mr Johnson's backers and show she has a significant chunk of Tory MPs behind her.

Expect opposition parties to pounce on the fact Johnson said he was "uniquely placed to avert a general election now".

He said he had reached out to both Mr Sunak and Ms Mordaunt because he had "hoped that we could come together in the national interest - we have sadly not been able to work out a way of doing this.

"Therefore I am afraid the best thing is that I do not allow my nomination to go forward and commit my support to whoever succeeds.

"I believe I have much to offer but I am afraid that this is simply not the right time."

While Mr Sunak forges ahead as the frontrunner, sources close to the ex-chancellor said "we are not taking anything for granted".

"Rishi will be continuing to talk to colleagues tomorrow morning before nomination papers go in, and discussing how best to unite the party and take the country forward," they told the BBC.

According to the BBC's tally of public declarations, Mr Sunak has the backing of 153 MPs, while Ms Mordaunt has 25.

Candidates need the support of at least 100 MPs to go forward in the ballot.

Nominations close at 14:00 BST on Monday.