Theresa May is set to be confirmed as the new Conservative Party leader and the UK's second female prime minister after her only remaining rival quit the race to succeed David Cameron.
Mrs May quickly received backing from leading Brexit supporters Michael Gove and Boris Johnson - and the chairman of the Conservatives' backbench 1922 committee said there was no need for the leadership contest to be re-run.
Downing Street sources have said discussions have begun about the timing of Mr Cameron's departure, with the expectation that a handover of power will happen within days.
It comes after Andrea Leadsom said she was pulling out of the contest shortly after apologising to the Home Secretary over an interview in which she appeared to suggest the fact that she was a mother gave her the edge over the childless Mrs May.
Speaking outside her campaign headquarters in central London, the energy minister said a nine-week leadership campaign to succeed Mr Cameron at such a critical time for the UK would be "highly undesirable".
Mrs Leadsom said Mrs May was ideally placed to implement a British exit from the European Union and offered the Home Secretary her full support.
Michael Gove - who came third in the leadership ballot among MPs - has also backed Mrs May to become PM, saying: "We should now move as quickly as possible to ensure Theresa May can take over as leader. She has my full support as our next Prime Minister."
Boris Johnson has said he has "no doubt Theresa will make an excellent party leader and Prime Minister" and called for the handover of power to begin "immediately".
Graham Brady, the chairman of the 1922 Committee, said he needed to consult with the party's board before formally confirming Mrs May as leader.
Mr Brady said he was hoping to hold talks this afternoon, but could not say whether Mrs May would be confirmed as Prime Minister by the end of the day or the week.
Chris Grayling, Mrs May's campaign manager, has said she was "enormously honoured" to be given the task of the leading the party, and would make a statement later today when she returns to London.
"Theresa will do everything she can to equip our country for the challenges that lie ahead," said Mr Grayling.
Outgoing UKIP leader Nigel Farage, who had argued the new PM must be a Brexit supporter, said he was "disappointed" that Mrs Leadsom had withdrawn.
Her announcement came a little more than an hour after Mrs May - who backed staying in the EU - launched her national campaign in Birmingham, seeking to present herself as the candidate of unity and experience with the support of an "overwhelming" majority of Conservative MPs.
She finished top in the MPs' ballot last week with 199 votes to Mrs Leadsom's 84.
The handover of power had not been expected to take place until after the end of a ballot of 150,000 Conservative members on 9 September.
There have been demands from Labour and the Liberal Democrats for Mrs May to call a snap general election, rather than waiting until 2020 for the next scheduled contest under the fixed-term parliaments rule.
Lib Dem leader Tim Farron said: "With Theresa May's coronation we need an early general election. The Tories now have no mandate. Britain deserves better than this."
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