Boris Johnson will resign as Tory leader but continue as Prime Minister until a successor is elected.
The resignation comes after the Prime Minister haemorrhaged support among his ministers and MPs.
The Prime Minister had sought to defy his critics and carry on in office, despite warnings from Cabinet colleagues that this was not sustainable. The timetable for the Tory leadership contest will be agreed between the 1922 Committee, which runs the parliamentary proceedings to whittle the candidates down to two, and Conservative headquarters.
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