The chair of the 1992 committee spoke outside parliament after Liz Truss's resignation on Thursday afternoon. Brady confirmed a leadership contest would be concluded by Friday 28 October so a new prime minister was in place by the time the fiscal plan was announced on 31 October. He said: 'We are deeply conscious of the imperative of the national interest and hope to resolve this,' after Sky News' Beth Rigby asked: 'What on earth is going on?'

Liz Truss resigns as UK prime minister – live