Rishi Sunak leading the race to become the next UK prime minister after Liz Truss threw in the towel amid her tax policy somersaults.

The road to 10 Downing Street lies clear for Mr Sunak as ex-PM Boris Johnson withdrew from the race

Ms Truss resigned on Thursday.

“I believe I have much to offer but I am afraid that this is simply not the right time,” Mr Johnson announced in a statement Sunday evening, a move that cleared the coast to victory for Mr Sunak, acclaimed to be the party’s top favourite.

Mr Sunak enjoys the backing of more than 100 Tory MPs, his closest rival Penny Mordaunt could only boast of 25 supporters.

Finding himself as a front runner, Mr Sunak may be the first UK Prime minister of Indian descent should he secure majority of the votes in the House of Commons Monday afternoon. 

Reacting to Mr Johnson’s withdrawal, Mr Sunak tweeted, “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 added, “Boris Johnson delivered Brexit and the great vaccine rollout. He led our country through some of the toughest challenges we have ever faced, and then took on Putin and his barbaric war in Ukraine. We will always be grateful to him for that.”