BORIS Johnson dramatically pulled out of the Tory leadership race last night saying it was “not the right time” — putting Rishi Sunak on course for No10 as soon as Tuesday.
The former Prime Minster insisted he had the numbers to go to a vote of membership.
But he threw in the towel as MPs broke for former Chancellor Mr Sunak at a rate of more than two to one.
After peace talks between the rival camps flopped, Mr Sunak was tearing ahead with the backing of more than 150 Tory MPs.
Only 60 had publicly declared for Boris — with the ex-PM losing the backing of Brexiteer big hitters.
With supporters of Mr Sunak openly vowing to bring down a new Boris government, pals were urging Mr Johnson not to push the contest to a vote of the membership for fear of chaos if he wins.
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Defiant to the end, he insisted he could have won, saying: “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 a Johnson victory risked a constitutional crisis with him winning the backing of the party faithful to be crowned leader — but left being unable to form a government with MPs who wanted him gone.
The shock announcement that he will not officially run came after a scramble to get nominations.
At the same time his closest friends and allies were urging him to bow out of the race.
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But in a final hint he could still yet come back, Boris declared: “I believe I am well placed to deliver a Conservative victory in 2024.”
He said in a statement last night he had been attracted to the leadership contest because he led his party to a massive election victory and was “uniquely placed to avert a general election now”.
However he conceded: “You can’t govern effectively unless you have a united party in Parliament.”
He said he had reached out to Rishi Sunak and Penny Mordaunt in the hope of coming together “in the national interest” but added “we have sadly not been able to work out a way of doing this”.
He concluded: “I believe I have much to offer but I am afraid that this is simply not the right time.”
He said he would back the winner.
Suspicions that Mr Johnson was going to drop out had been heightened by the fact he had not formally declared he was running.
There were repeated claims from allies that he had the backing of enough MPs. Some supporters were urging him to stay and fight — even at the risk of being unable to form a government on Friday.
Ally Chris Heaton-Harris insisted the 100 names Boris needed to get on the ballot at 2pm today had been collected.
The Cabinet Minister, who served as chief whip on the campaign, told MPs: “OK everyone! Some very good news!
"Thanks to all your hard work I can confirm we have completed all the paperwork (verified all nominations, with proposer and seconder) to be on the ballot tomorrow.”
After Saturday night peace talks with Johnson flopped, Rishi Sunak became the second contender formally to declare he was standing, promising to “fix our economy, unite our party and deliver for our country” at a time of “profound economic crisis”.
Boris' statement in full
In the last few days I have been overwhelmed by the number of people who suggested that I should once again contest the Conservative Party leadership, both among the public and among friends and colleagues in Parliament.
I have been attracted because I led our party into a massive election victory less than three years ago - and I believe I am therefore uniquely placed to avert a general election now.
A general election would be a further disastrous distraction just when the government must focus on the economic pressures faced by families across the country.
I believe I am well placed to deliver a Conservative victory in 2024 - and 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 and Penny - 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.
Therefore I am afraid the best thing is that I do not allow my nomination to go forward and commit my support to whoever succeeds.
I believe I have much to offer but I am afraid that this is simply not the right time.
Efforts to broker a deal with third place Penny Mordaunt also fell apart for Mr Johnson on Sunday afternoon.
Candidates need 100 nominations by 2pm today to make it on to the ballot of Tory MPs.
Mr Sunak is miles in front with colleagues, boasting 150 public supporters and expected to storm to victory in the MPs’ vote today.
With only 25 public votes, it was unlikely last night that Ms Mordaunt would secure enough support to avoid a Sunak coronation.
If only Mr Sunak makes it on to the ballot, he will emerge as Britain’s next Prime Minister as early as this afternoon.
Commons leader Ms Mordaunt refused to pull out yesterday and swing behind Mr Johnson during a phone call between the two rivals.
A source told the Sun: “Boris wanted Penny to drop out, but she said if she did, all of her supporters would go to Rishi.
“So the best way of stopping a Rishi coronation was for him to pull out and back her. She is the only one who can unite the party.”
On an 8am Zoom call yesterday Mr Johnson had told around 50 supporters that he had the mandate from the people needed to avoid a general election.
Mr Johnson had said he wanted to let “bygones be bygones” weeks after he was ousted in a bloody coup amid the Partygate saga and Chris Pincher affair.
Ultra-loyalist MP James Duddridge said the ex-PM was on “good form” for the meeting and was even “rather smartly dressed”.
More Cabinet backers flocked to his comeback campaign yesterday promising a reformed “Boris 2.0”.
Cabinet Office Minister Nadhim Zahawi had swung behind his ex-boss despite calling on him to quit just 108 days ago.
Business Secretary Jacob Rees-Mogg claimed Mr Johnson was “clearly going to stand — there’s a great deal of support for him.”
Even Boris’s sister Rachel had said it looked like her brother was about to make a comeback bid.
But Mr Johnson suffered a series of blows as key Brexiteers baulked at his second run at No10 and flocked to rival Mr Sunak.
Joining Team Rishi, ex-Home Secretary Suella Braverman said while she admired old boss Boris, he was not the right leader for the “dire” economic times.
Arch Eurosceptic Steve Baker unleashed a scathing assessment on Mr Johnson’s hopes of a comeback — stressing it would implode almost immediately.
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Labour leader Sir Keir Starmer yesterday intensified his demands for an immediate general election.
He told the BBC’s Laura Kuenssberg: “People are so fed up. They’re entitled, they want a say in this, there is a choice to be made.”