Iain Duncan Smith, a former leader of the Conservative Party who backed Truss during her leadership contest against Sunak in the summer, has said he is now backing the ex-chancellor.
“It is time for us to end the leadership contest and get a PM in place ASAP. I have reached the decision that senior experience at the heart of government matters most. To that end I shall support Rishi Sunak,” he tweeted.
Rishi Sunak has been elected as the next Conservative Party Leader in the United Kingdom.
According to Sir Graham Brady's declaration, the 1922 Committee received just one nomination for the future head of the party, which was supported by 100 MPs.
Sir Brady therefore designated Sunak to be the future party leader and, as a result, the new Prime Minister.
He announced that Rishi Sunak, the incoming Tory leader, will address MPs at 14:30 BST.
Details to follow...