Next Tory leader: Leadership battle commences with Jeremy Hunt declaring bid for PM and Sir Graham Brady 'considering' challenge

Jeremy Hunt and Sir Graham Brady emerged today as being among senior Tories to set their sights on Downing Street just hours after Theresa May announced her resignation.

Foreign secretary Jeremy Hunt, 52, confirmed his intention to run for the leadership on Friday, his local office confirmed.

He made the announcement during an event in his south Surrey constituency.

Mr Hunt said it was “only right that my party constituency should be the first to know”.

Sir Graham Brady also announced he had quit as 1922 committee chairman because he was "considering" running to be leader.

He said: "I have been approached by a number of colleagues across the party both inside and outside Parliament asking me to put myself forward as a candidate.

"Therefore I have taken the decision to stand down from the position of chairman of the 1922 Committee in order to ensure a fair and transparent election process.

"I am considering the approaches I have received and will make a further statement in due course. I informed Number 10 and the chairman of the Conservative Party of this this morning."

Mr Hunt had paid tribute earlier in the day to the outgoing Conservative leader.

He wrote: "I think this is a day to remember Theresa May and her duty, her sense of public service, the fact that she has done an incredibly difficult job with enormous integrity, and I think that's what people up and down the county will be thinking today."

Earlier in the day he called her "a true public servant", adding: “Delivering Brexit was always going to be a huge task, but one she met every day with courage & resolve..."

The MP for South West Surrey did not run in the previous contest and then backed Mrs May.

He was also one of the last Cabinet members she met in Downing Street.

The pair join Brexiteer former foreign secretary Boris Johnson, who said "of course" he will run, as definite candidates.

He is a favourite for the position among the Tory grassroots, with surveys indicating he would garner a large support.

The 54-year-old is considered the favourite among the bookies for the running.

Hours after Mrs May resigned, Mr Johnson expressed his thoughts on Brexit at an economic conference in Switzerland

He said: "We will leave the EU on October 31, deal or no deal... The way to get a good deal is to prepare for a no deal. To get things done you need to be prepared to walk away."

Former Brexit secretary Dominic Raab is also a favourite though he has not put himself forward as yet.

However, he has refused to rule out standing in a leadership contest and has a semi-official Ready for Raab Twitter account ready for a leadership bid.

He was a prominent Brexiteer in the referendum campaign and Mrs May appointed him as her second Brexit secretary in July.

However, he quit the role in November, saying he could not support her eventual deal.

Ex-work and pension secretary Esther McVey, prisons minister Rory Stewart, former leader of the House Andrea Leadsom and ex-Brexit minister Steve Baker have all indicated they are considering runs.

Mrs Leadsom, said she was "seriously considering" running for the Conservative leadership before she quit her role on Wednesday.

Her refusal to bring the Withdrawal Agreement Bill to the Commons could be seen as the final nail in the coffin for Mrs May's premiership, while it was widely interpreted as positioning for a leadership bid.

Sajid Javid, Matt Hancock and Liz Truss have also all been touted as likely runners.

​Mrs May announced her resignation after increased pressure from her party and scrutiny over her Brexit plans.

She broke into tears in Downing Street as she said: "I will shortly leave the job that it has been the honour of my life to hold.

"The second female prime minister, but certainly not the last.

"I do so with no ill will, but with enormous and enduring gratitude to have had the opportunity to serve the country I love."

Mrs May will stand down on June 7 and Tory leader then will leave her post as PM once a replacement for her has been decided.

The new leader is set to be announced in July ahead of Parliament's summer recess.

Under the timetable set out by party chairman Brandon Lewis and the 1922 vice-chairmen, nominations will close in the week beginning June 10.

Their aim then would be to conclude the parliamentary stage of the process by the end of the month.