Rishi Sunak will be the next Prime Minister of the UK.
Penny Mordaunt pulled out of the conservative leadership race just before 2 this afternoon.
Mordaunt said in her withdrawal statement: “This decision is an historic one and shows, once again, the diversity and talent of our party. Rishi has my full support.
“I am proud of the campaign we ran and grateful to all those, across all sides of our party, who gave me their backing.
“We all owe it to the country, to each other and to Rishi to unite and work together for the good of the nation. There is much work to be done.”
Sunak ran for leadership in the campaign to replace Boris Johnson, which concluded just seven weeks ago.
He will be the UK’s first British Asian prime minister.