Boris Johnson favourite for Tory leadership after David Cameron resigns

Boris Johnson was named by the bookmakers as favourite to take over from David Cameron this morning - but he was being challenged by Cabinet heavyweight Theresa May.

At a press conference, Mr Johnson gave a statesmanlike speech that said nothing about his ambitions but looked forward to Britain being a “powerful, liberal, humane” power outside the EU.

Friends said it was “too early” for the former Mayor of London to consider whether he would run for the Conservative leader and Prime Minister.

Some MPs said he would face a “stop Boris” plot by MPs and ministers furious at his key role in tilting the referendum for Brexit. Some Tories are also hoping to avoid a summer-long leadership contest today by finding a unity candidate to take over from David Cameron.

Home Secretary Mrs May, who kept a low profile during the referendum battle, was seen by some as a heavyweight who was least damaged by the bruising campaign. She has clashed with Mr Johnson in the past, including when she banned his anti-riot water cannon from being deployed.

Mr Johnson was 11/8 favourite with Ladbroke, followed by Mrs May at 2/1 and Michael Gove at 6/1.

George Osborne, the Chancellor, was listed as a 12/1 outsider - but is seen by MPs as a powerful kingmaker who could use his vast network of followers to decide which candidates get onto the ballot paper if he decides not to stand himself.

Followers of Nicky Morgan, the rising star Education Secretary, let it be known she was taking soundings for a possible tilt at the crown. Sajid Javid, the Business Secretary, is known to have leadership ambitions but lost support on the Thatcherite Right by backing Remain.

A senior minister told the Evening Standard: “My money is on Theresa May at the moment. Boris has turned himself into a Marmite character during the referendum campaign, whom you either like or hate.”

Mr Johnson was greeted with cheers and boos in equal measure from a big crowd when he left his home today. Colleagues said he looked shellshocked when Mr Cameron resigned.

His father Stanley Johnson, asked if Boris would make a good PM, said: “He certainly deserves to be on the shortlist.”

Under Conservative rules, the leadership contest is held in two stages. First, Conservative MPs hold a series of votes to whittle down the list of contenders to a shortlist of two names. Then the final two names are put to a ballot of party members.