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Rishi Sunak will be the next prime minister after no other rivals came forward to challenge him.
He was the only candidate after Penny Mordaunt pulled out just ahead of the 1400 deadline. Boris Johnson was expected to stand, but decided not to stand on Sunday.
Sir Graham Brady announced the result four days after Liz Truss resigned from the office.
Mr Sunak immediately became leader of the Conservative Party and should be PM later after meeting King Charles.
Live: Sunak is next PM as Mordaunt drops out of leadership race