The Conservatives are to start a three-month leadership contest this week, ending with the announcement of a new Tory leader on 2 November.

Nominations will open on Wednesday, with candidates needing a proposer, a seconder and eight nominations to pass the first round.

The plans have been tailored to give the final four candidates a chance to speak to party members at the Conservative conference.

MPs will then whittle it down to the final two candidates, with the winner chosen by Conservative Party members.

The announcement comes as Rishi Sunak ally Mel Stride, the shadow work and pension secretary, said he was “considering” announcing his candidacy for the race.

On Monday, Mr Sunak formally stepped down as leader of the Conservatives starting the process to elect his replacement.

He will remain acting leader of the party until a successor is appointed

No-one has yet officially confirmed they will stand.

Other potential leadership candidates include former immigration minister Robert Jenrick, former home secretaries Suella Braverman and Dame Priti Patel, shadow home secretary James Cleverly, shadow security minister Tom Tugendhat and shadow communities secretary Kemi Badenoch.