Boris Johnson, Rishi Sunak lead race to be UK’s next PM

LONDON, Oct 21 (Reuters): Boris Johnson and his former finance minister Rishi Sunak were leading the potential contenders to replace British Prime Minister Liz Truss on Friday, with candidates canvassing support to become Conservative Party leader in a fast-tracked contest.

After Truss quit on Thursday, ending her six weeks in power, those who want to replace her were trying to find the 100 votes from Conservative lawmakers needed to run in a contest which the party hopes will reset its ailing fortunes.

Truss easily beat the former chancellor of the exchequer in this summer's Tory leadership contest, winning party members over with promises to slash taxes and regulations without curbing government spending. Rishi Sunak

Sunak (42), had warned that her plans to fund the proposals through extra borrowing were reckless and could worsen decades-high inflation as well as market confidence in the UK.

Now that he has been proved right, Sunak was installed by bookmakers as the early favourite following Truss's dramatic announcement.

He garnered the support of the largest number of Tory lawmakers in successive rounds of voting, before party members installed Truss.

The former premier left office early last month after a revolt among his cabinet and Tory MPs, sparked by the resignation of Sunak and others from his faltering government following months of controversies.

Encouraged by several strong hints from Johnson himself, speculation has swirled ever since that he would attempt an eventual comeback -- though few thought that could be feasible this quickly.

The Times reported after Truss's demise that he was planning to enter the race.

Ben Wallace has impressed as defence minister, with Britain playing a pivotal role in the global response to Russia's invasion of Ukraine. Popular with members, it came as a surprise when the former army captain opted not to enter the race to replace Boris Johnson over the summer, saying he "didn't want it enough".