Sir Graham Brady, the chairman of the Conservative backbench 1922 committee, has stated that candidates to replace the outgoing Prime Minister will need at least 100 nominations from fellow MPs to advance in the election, with nominations due by 14.00 on Monday. Candidates in the previous leadership election had to receive a minimum of 20 nominations. According to the new rules, only three candidates will be allowed to run, and only one hustings event will be held. Here are some possible candidates: Sunak Rishi According to MP Richard Holden, who represents North West Durham, Mr Sunak will “certainly” run for leader again. In the recent leadership election, the former chancellor and defeated leadership candidate was the favourite among MPs. Truss’ fiscal reversal on one of the most significant tax cuts announced by sacked chancellor Kwasi Kwarteng effectively meant that the current government chose to stick with Sunak’s plans. The tax cuts would have nullified Sunak’s plan to raise the corporation tax rate from 19% to 25% in April of next year. Sunak gains the advantage of being perceived as a safe pair of fiscal hands as a result of Truss’ reversal. However, he is unpopular with some Conservatives on the right of the party, who see him as crucial in deposing Boris Johnson and others as enacting massive spending plans at odds with typical Conservative economics. Penelope Mordaunt According to reports, some MPs were considering putting Rishi Sunak and Penny Mordaunt on a joint ticket to lead a new administration. In third place in the Conservative leadership election, the former defence secretary is a favourite among Tory MPs as well as a betting favourite. Crispin Blunt, a Tory MP who publicly called on the Prime Minister to resign, suggested a leadership team centred on Rishi Sunak, Penny Mordaunt, and Jeremy Hunt. Penny Mordaunt, the new Leader of the House of Commons, stood in for Truss in the Commons on Tuesday, answering questions from opposition leader Keir Starmer. Johnson, Boris Following Ms Truss’ resignation, both The Times and The Telegraph reported that Mr Johnson will run for Prime Minister. Former Culture Secretary Nadine Dorries has said that if Liz Truss steps down, Mr Johnson should be the next leader or there will be a general election. He was the last leader to receive a public mandate, winning a large majority in the 2019 general election. However, after being forced out of office due to a series of scandals, he may be a bitter pill for many MPs – and the country – to swallow. Wallace, Ben Defence Secretary Ben Wallace has been mentioned as a possible replacement. He did not run for Conservative leadership, despite calls for him to do so, but he is a popular minister who is widely respected for his role in the UK’s support for Ukraine. There has recently been speculation that including the Ministry of Defence in any round of spending cuts could lead to a squabble with Wallace, who wants the government to commit to a 3% increase in defence spending by 2030. Braverman, Suella The Home Secretary resigned on Wednesday after violating security protocols. She is popular on the right wing of the party, favouring a tough stance on immigration, and once stated that seeing a plane depart for Rwanda carrying migrants was her “dream” and “obsession.” She also ran in the leadership election and, despite being eliminated in the second round, won the support of key MP Steve Baker, who is influential on the party’s right.