New British PM to be elected by September 2: Tory politician
A new Conservative party leader and British prime minister will be elected by September 2, a Tory politician said, following the resignation of David Cameron in the wake of the UK’s vote to leave the EU.
"We recommend that the process of electing a new leader of the Conservative Party should commence next week... and conclude no later than Friday September 2, although an earlier conclusion may be possible," said Graham Brady, the head of a Tory committee in charge of the leadership vote.
On Friday, Cameron, who had campaigned extensively for the UK to stay in the EU, announced that he would be stepping down as the British prime minister in October. This came as some 51 percent of the people in the UK voted in the referendum to exit the bloc.
The Brexit vote also led to the fall of the British pound to its lowest levels in 31 years, dropping below $1.31 in London trade on Monday.
This came as a survey carried out by the leading business lobby group, Institute of Directors, said on Monday that one fifth of British business leaders are considering to move operations abroad following the Brexit vote.
The business group studied a thousand of its members between Friday and Sunday, finding out that 64 percent of its members believe that the Brexit vote is negative for their businesses and only 23 percent think it is positive.
One fourth of respondents also decided to freeze recruitment due to the vote, the study also said.
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