At 11:00 BST, we're expecting three candidates in the race to replace Boris Johnson to formally launch their leadership bids.

Former chancellor Rishi Sunak, former equalities minister Kemi Badenoch and senior backbencher Tom Tugendhat will set out their campaign promises, having already announced their intentions to run.

Sunak is currently out in front, in terms of support from fellow Tory MPs, with Tugendhat also thought to be above the threshold of 20 votes needed to advance to the next round. It's unclear what number Badenoch's on, but she seems to be popular with some of the party.

We'll bring you live updates from all three press conferences, so stay tuned.

David Brown
Visual Journalism Team

Earlier we reported on a survey by the website ConservativeHome, which asked its members who should be the next Tory leader.

Penny Mordaunt came top, followed by Kemi Badenoch. Neither are cabinet members. Here are the full details:

Image source, .

Not a single white male candidate came in the top five choices in the survey.

Mordaunt and Badenoch were followed by the former chancellor Rishi Sunak, Attorney General Suella Braverman and the Foreign Secretary Liz Truss.

It's not scientific or representative of party members as the participants are self-selecting.

But it might give us some idea of opinion among the Tory grassroots.

ConservativeHome is independent of the party, but serves Tory activists around the country.

Nick Eardley
Political correspondent

Rishi Sunak is the man to beat among Tory MPs.

After pledges of tax cuts from his rivals yesterday, Sunak will make an argument for what he sees as economic realism.

Yes, tax cuts. But only once inflation is under control and the economy is growing.

Expect him to argue he is prepared to make difficult decisions and act responsibly.

Liz Truss meanwhile is pitching herself to MPs as the best person to stop Sunak.

She is expected to get some big cabinet backers today in Jacob Rees-Mogg and Nadine Dorries.

But unsurprisingly, she isn’t the only person making the argument she is best placed to take on Sunak.

A number of candidate will spend the next few hours trying to shore up support.

Most believe they will meet the 20 threshold to get onto tomorrow’s ballot. We’ll find out for sure later.

Chancellor Nadhim Zahawi has become the latest big name to release a campaign video, external, with the slogan "British by Choice. Conservative by conviction."

In a swipe at his predecessor Rishi Sunak, Zahawi insists that “cutting taxes isn't a fairytale", as he sets out his pitch to Tory voters.

He says if chosen he would reform education to give pupils “the tools they need to succeed in life”, adding: "Faced by Russia and China it is clear we must increase our spending on defence. And of course we need to reduce the burden of tax."

Nusrat Ghani - the freshly re-elected vice-chair of the 1922 Committee - says it won't be easy for candidates to secure the necessary backing of 20 MPs by the end of the day, in order to progress to the first round of voting.

Speaking to Radio 4's Today programme, the Conservative MP says the 1922 Committee - which set out the timetable last night - is "trying to move as fast as we can" to replace Boris Johnson, while making sure all candidates have an opportunity to put forward their case.

Eleven MPs have put themselves forward so far, but Ghani says she thought previously that might reach 16 - "but who knows, who knows" she says.

Image source, .

Chris Mason
Political editor

Image source, Reuters

Those around Rishi Sunak insist they are "pretty relaxed and chilled" at the criticism he has faced from rival candidates, but they are surprised at how personal some of it has been.

Rivals have been falling over themselves to say how much and how quickly they would cut taxes.

Sunak says it must happen in a "responsible" way.

In a speech today he will set out he does and has cut taxes - raising the threshold for National Insurance, plans to cut income tax by 2024 and cutting fuel duty.

As for the numbers, it looks like a good number of the 11 wannabes could make it onto the ballot, with only a handful being eliminated today.

We'll see a blizzard of launches today - speeches and events tumbling towards us, some of them happening simultaneously.

Candidates hoping to replace Boris Johnson have only a matter of hours to find at least 20 MPs to support their bid before nominations close later.

There had been some confusion this morning about exactly when nominations close, but we've just confirmed it'll be at 18:00 BST tonight.

That gives candidates about nine hours from now to get on the ballot.

Image source, EPA

Right-wing blog ConservativeHome has done a survey of its members, which shows they don't like the "establishment" candidates - that is, those who served in Boris Johnson's cabinet.

Deputy editor Henry Hill tells Radio 4's Today Programme: "I think it shows there is quite a strong desire for a clean break.

"It's not a coincidence the top two candidates - Penny Mordaunt and Kemi Badenoch - have not been in Boris Johnson's cabinet and they are clearly ahead of the others.

"Then a bit further down you have Rishi Sunak, Suella Braverman and Liz Truss rounding out the top five.

"So it's obviously not a great thing in some ways that the Conservatives have been in office for 12 years and that members would rather somebody who hasn't been in the cabinet would be leader.

"But I think that tells you something about how the current or how the previous regime viewed amongst grassroots elements."

It's important to mention here that the ConservativeHome survey was self-selecting and is not representative of the views of all Conservative Party members.

Image source, UK Parliament

We've just heard Labour will table a no confidence motion in the government later today.

Labour's leader Sir Keir Starmer previously threatened to bring the vote to prevent "this nonsense" about PM Boris Johnson "clinging on for a few months".

"He's inflicted lies, fraud and chaos in the country," Starmer said last week.

"If they don't get rid of him then Labour will step up, in the national interest, and bring a vote of no confidence, because we can't go on with this prime minister clinging on for months and months to come."

Nadhim Zahawi defends his decision to turn on Boris Johnson a day after being given Rishi Sunak's old job as chancellor, saying it was a case of duty.

"I will always put country first," he says, "but by the afternoon of Wednesday [last week], it became obvious to me that we could not continue to have a functional government."

Zahawi is pushed on whether it was the right decision to take a job from a leader he thought was on his final days in office. Zahawi says it was important not to walk away from government at a time of economic national emergency.

"Of course I regret what has happened in the past week. It pains me to see what is happening to my party, and my pledge - if I am prime minister - is I will heal those wounds and bring the party back together," he says.

A bit more now from leadership contender Nadhim Zahawi.

Challenged on whether it's responsible for the UK's chancellor to be casting himself as a low tax prime minister - after warnings from the Bank of England - Zahawi insists he's assessed the numbers.

"I've fully costed these plans and I'll be saying more about the way we'll pay for them in the coming days," he tells the BBC, adding "it's only been 72 hours" since the leadership race began, but says again his pledges are "fully costed".

"I want to inject growth in the economy [and] you don't get growth without supporting people," Zahawi goes on.

Image source, UK Parliament

A no-confidence vote would see MPs from all parties decide whether they want Boris Johnson's government to continue.

It requires a simple majority to pass.

If the government loses, it could trigger a general election.

But, crucially, it would require a lot of Conservative MPs to vote against their own government and it’s unlikely many Tories would back it.

Get more details here.

Labour will table a no confidence motion in Boris Johnson's government later today, seeking to hold the vote on Wednesday, party sources say.

Here are Nadhim Zahawi's five pledges, which he promises to carry out if he becomes the next Conservative Party leader:

• Cut taxes to reduce the burden of the current cost of living crisis on people, with a specific focus on corporation tax
• Reduce the cost of gas and electricity by pausing VAT and green levies on energy bills
• Increase spending on defence by 2.5% by 2025, rather than the end of the decade, taking the budget to £57bn
• Work with business to reduce the EU bureaucracy that has "dogged certain industries" since Brexit
• And finally, put more criminals behind bars

Chancellor Nadhim Zahawi - one of the 11 candidates vying to replace Boris Johnson as PM - is up on BBC Breakfast.

He begins the interview by saying he's got the 20 backers needed to get him on the leadership ballot.

"We've got them and we will be putting a nomination in later," he says.

He goes on to say he wants to set out five pledges.

Candidates hoping to replace Boris Johnson have just hours to secure support from at least 20 MPs, as a tight timetable for the leadership race was set out last night.

Let's take a closer look:

Tuesday 12 July - nominations to get on the ballot open, closing in the evening

Wednesday 13 July - first round of voting among Tory MPs

Thursday 14 July - likely date for second round of voting

Monday 18 July - likely date for third round of voting, if required

Thursday 21 July - deadline for deciding final two candidates

Monday 5 September - winner announced

Chris Mason
Political editor

While describing this race as Rishi Sunak versus the rest would be an exaggeration, it wouldn't be much of one.

All the other candidates, to one degree or another, are gunning for his record as chancellor, and the current levels of taxation and government spending.

Plenty, including those who served in the very government that did exactly what they are now grumbling about, say the amount of taxing and spending is un-Conservative, and they would seek to do something about it pronto.

On Tuesday, we'll hear the response from the man who - until last week - was chancellor.

Read more from Chris Mason

The Guardian says the Tory Party has chosen to "speed up the competition" by increasing the number of Tory MP supporters a candidate needs from eight to 20.

The Times reports that Foreign Secretary Liz Truss is expected to get the backing, external of two of Boris Johnson's closest supporters - Brexit Opportunities Minister Jacob Rees Mogg and Culture Secretary Nadine Dorries.

The Daily Mail says Truss has warned the right of the Conservative Party, external that it risks handing Mr Sunak the "keys to the Number 10 unless it unites behind her".

And the Financial Times reports Rishi Sunak will "attempt to fend off fierce attacks from his rivals, external" by pledging to cut taxes, but only once he has "gripped inflation".

Read the rest of the front pages here.

Image source, PA Media

Former chancellor Rishi Sunak - largely seen as the favourite to replace Boris Johnson as Tory leader - is due to formally launch his leadership campaign this morning.

He'll pledge to bring the tax burden down - once inflation has been brought back under control

Elsewhere, senior backbencher Tom Tugendhat is also today expected to lay out his vision for a Britain under his leadership.

While both men have already made clear their intention to run, this stage will see them set out the policies they'll put at the heart of their potential premiership.

Image source, .

Here's a quick rundown of where we're at:

• Eleven MPs have so far put themselves forward to replace Boris Johnson, including former chancellor Rishi Sunak, former foreign secretary Jeremy Hunt and ex-health secretary Sajid Javid
• To speed up the competition, the 1922 Committee of Tory backbenchers yesterday decided to increase the number of backers that a candidate needed from eight to 20, and ruled they would need at least 30 votes to get past the first round
• Three - Sunak, Trade Minister Penny Mordaunt, and backbencher Tom Tugendhat - have so far passed the necessary threshold
• Cabinet ministers Grant Shapps, Liz Truss and Nadhim Zahawi are also running
• Knockout voting will begin on Wednesday afternoon, with the field being whittled down to two finalists before the end of next week
• A winner will be picked in a postal ballot of around 160,000 Conservative Party members over the summer. Party bosses have said they plan to announce the result on 5 September
• Other candidates could still enter the race if they secure more than 20 nominations by 22:00 BST, with Home Secretary Priti Patel among those believed to still be weighing up a run

Stay with us for live updates throughout the day.