Senior minister rules self out of Labour leadership race

A senior minister and ally of the outgoing prime minister has ruled himself out of the contest to lead the Labour Party. The chancellor of the Duchy of Lancaster told Sky News he had been reassured about the economic plans of the former Greater Manchester mayor after a conversation on Tuesday. He said he would not stand despite having enough support among MPs to mount a challenge.

Timing concerns cited The minister added that a contest would not give the eventual winner enough time to prepare a budget for the autumn. He urged the Makerfield MP to provide more detail on economic policy for colleagues who remain concerned. The same minister said there was room to borrow a little more within existing fiscal rules but stressed other routes existed to meet spending priorities without broad increases in borrowing and spending.

Other ministers comment on transition A victims minister told Sky News she was sad to see the prime minister resign but praised the progress made under the current government. She said she would absolutely back the Makerfield MP as the next leader. The victims minister also said a drawn-out leadership contest would not be in the country's best interests and called for a quick and smooth process focused on delivery.