Receiving the required 20 nominations from their parliamentary colleagues, Kemi Badenoch, Suella Braverman, Jeremy Hunt, Penny Mordaunt, Rishi Sunak, Tom Tugendhat, Liz Truss and Nadhim Zahawi; were the eight candidates nominated to move on to the next round in the race to replace Boris Johnson.
Tory MPs will hold a series of ballots to reduce the current list to two final candidates. The candidate with the worst results will be eliminated after each round before party members vote on the winner.
According to the ruling Conservative Party, the new UK Prime Minister to replace the outgoing Boris Johnson will be announced on September 5 when Parliament returns from its summer recess.
On July 7, Prime Minister Boris Johnson was forced to resign as Conservative leader after more than 50 resignations in his government due to his scandal-plagued leadership.
Rising inflation, high debt and low growth are issues currently plaguing the British economy. Amid this backdrop, citizens are facing the biggest financial squeeze in decades, while fuel prices are soaring as a result of the energy crisis that has gripped the world due to the conflict in Ukraine.