BRITAIN could have a new prime minister by September 2 at the latest after the Conservative Party’s 1922 committee executive recommended fast-tracking the process of choosing a new leader.

If confirmed by the party board today and a vote of the 1922 committee members tomorrow, then David Cameron will leave Downing Street a month earlier than planned.

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The 1922 executive also announced nominations would open tomorrow and close on Thursday.

Boris Johnson, the former London Mayor and Brexit chief, is still regarded as the favourite, but it is thought Theresa May, the home secretary, who was initially regarded as a Leaver but came out as a Remainer, could promote herself as the unity candidate.

Other names being touted include Scots-born Stephen Crabb, the Work and Pensions Secretary, as well as Andrea Leadsom, the energy minister, who put in impressive TV performances as a Brexiter, fellow Outer Liam Fox, the former defence secretary, and Amber Rudd, the Energy Secretary, who supported Remain.

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As is often the case with such contests, people put themselves forward not so much believing they can win but in an attempt to secure a high-profile job in the new government.

Under the proposed timetable, nominations would open as backbenchers rubber-stamped it at their regular Wednesday evening gathering and then close at noon the following day.

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"We then recommend that the process of electing a new leader of the Conservative Party should commence next week - with the beginning of any necessary parliamentary ballots - and conclude no later than Friday September 2, although an earlier conclusion may be possible," explained Graham Brady, the 1922 chairman.

“Things are in our hands and we are moving as quickly as possible. We think the party and the country want certainty,” he added.

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The process is likely to see the candidates whittled down to two by the time MPs rise for their summer recess on July 22. Hustings of the main two candidates will then take place through August.

At the weekend, Mr Johnson summoned friendly Tory MPs to his Oxfordshire home in likely preparation for a run at the party's leadership. His fellow Brexiter Michael Gove is tipped to be his campaign manager.

Mrs May is also said to be sounding out colleagues. She is likely to attract support by those wanting Anyone But Boris, a campaign being organised by ministers and aides loyal to Mr Cameron.

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Justine Greening, the International Development Secretary, has urged Mr Johnson and Mrs May to form a "united leadership" to help bring together a country left divided after the poll. Mr Crabb has also insisted that what was needed was a prime minister who could not only unite the Tory party but also the country after the divisive EU referendum campaign.

Ms Greening said if Mr Johnson and Mrs May were unable to agree, another pair of MPs from either side of the referendum divide could step forward to "bring Britain back together".

Meantime, another potential candidate, hotly tipped before the Brexit result, has been conspicuous by his silence. George Osborne gave no clues on whether or not he would be a candidate in the leadership election as he set out measures to calm the financial markets in an early-morning statement at the Treasury yesterday.

The chancellor, whose credentials for a tilt at the top job are seen even by allies to have been badly damaged by the Brexit vote, said only that he would address the question of his future role in the Conservative Party in the coming days.

Asked whether or not he would serve in a Brexit-backing government, Mr Osborne replied: "I take a simple view of life, which is 'It's my country, right or wrong' and I intend to fulfil my responsibilities to the country."

The leadership process involves MPs whittling down the candidates to just two, who are then voted on by the party’s 150,000 members.