Boris Johnson. Photo: AFP / Daniel Leal
Boris Johnson has announced he will not stand for the Tory leadership.
He said that despite having the support of the MPs required to run, he had come to the conclusion "this would simply not be the right thing to do" as "you can't govern effectively unless you have a united party in parliament".
He claimed to have reached 102 backers, although only 57 MPs had publicly declared their support for him.
He said he was "well placed" to deliver a victory in the 2024 general election.
In his statement outlining his reasons behind the decision, he wrote: "Tonight I can confirm that I have cleared the very high hurdle of 102 nominations, including a proposer and a seconder, and I could put my nomination in tomorrow.
"There is a very good chance that I would be successful in the election with Conservative Party members - and that I could indeed be back in Downing Street on Friday.
"But in the course of the last days I have sadly come to the conclusion that this would simply not be the right thing to do. You can't govern effectively unless you have a united party in parliament.
"And though I have reached out to both Rishi [Sunak] and Penny [Mordaunt] - because I hoped that we could come together in the national interest - we have sadly not been able to work out a way of doing this.
He said he would support to whoever succeeded. "I believe I have much to offer but I am afraid that this is simply not the right time."
Rishi Sunak officially declared he was running for Tory leader and prime minister. He pledged to fix the economy, unite the Conservative party and "deliver for our country".
Penny Mordaunt, who was first to announce herself as an official candidate, told the BBC she was "in it to win it".
- BBC