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Theresa May is resigning on June 7 and the race to succeed her as prime minister and Conservative Party leader is getting under way.

Key Developments:

  • Cabinet ministers Michael Gove and Matt Hancock join a growing field of candidates led by bookmakers’ favorite, former Foreign Secretary Boris Johnson.
  • Ex House of Commons leader Andrea Leadsom signals intention to run, as does one-time Brexit Secretary Dominic Raab.
  • They join Foreign Secretary Jeremy Hunt, International Development Secretary Rory Stewart and former Works and Pension Secretary Esther McVey.
  • May quit on Friday after failing to reach consensus with Labour on the way forward over Brexit. Without opposition support, May faced a fourth defeat for her Brexit deal in Parliament.
  • Tories and Labour expected to lose votes in European Parliament elections to Nigel Farage’s anti-EU Brexit Party and the pro-EU Liberal Democrats, who want a second referendum; British results due later Sunday.

Gove Throws Hat in the Ring (9:45 a.m)

Speaking outside his home in west London, the environment secretary confirmed he intends to run in the leadership contest.

“I believe that I’m ready to unite the Conservative and Unionist Party, ready to deliver Brexit, and ready to lead this great country,” Gove says.

Justine Greening, former education secretary, rules out a leadership bid. “I think it’s going to be a beauty parade for hard Brexiteers,” she tells Sky’s “Sophie Ridge on Sunday” show. Greening says Parliament will stop Britain leaving the European Union without a deal.

No-Deal Brexit Must Be Blocked, McDonnell Says (9:40 a.m.)

Labour is willing to “work with anyone” to prevent a no-deal Brexit, Shadow Chancellor John Mcdonnell told Sky.

“There is a real threat of an extremist Brexiteer becoming leader and taking us over the cliff edge of a no-deal, no matter what what the damage to jobs and the economy. We’ve got to block a no-deal; if necessary let’s go back to the people” in a second referendum, McDonnell said.

His comments follow a warning from Labour’s deputy leader, Tom Watson, that the party’s “mealy-mouthed” backing for a public vote was costing votes.

Backing for Health Secretary (9:30 a.m.)

Health Secretary Hancock should be the next prime minister, former First Secretary of State Damian Green told Sky. “I do think we need a fresh start.”

To contact the reporter on this story: Andrew Atkinson in London at a.atkinson@bloomberg.net

To contact the editors responsible for this story: Fergal O'Brien at fobrien@bloomberg.net, Cecile Gutscher, James Amott

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