Hague A Front-Runner For Tory Leadership

As Mr Major left Downing Street for the last time, he said he would stand down as soon as the machinery for the election of a new leader was in place. His decision was widely expected after the crushing defeat the Conservatives suffered at the polls on Thursday although senior party colleagues urged him to stay on while the party attempted to re-group and come to terms with its worst election result for 150 years. The battle for the heart and soul of the party began almost at once.

Kenneth Clarke was the first to come forward

The former Chancellor, Kenneth Clarke, announced his candidacy within two hours - the only contender to come forward so far. He told the BBC's World At One programme: "I certainly intend to be a candidate in the leadership election."

Mr Clarke's announcement seems already to have irritated the Euro-sceptic wing of the Party as the leadership contest threatens to widen divisions between left and right. The Independent newspaper reports a leading Tory Euro-sceptic as saying, "To have that fat, reckless, ill-disciplined lump as the leader is laughable. Forget it."

It is expected that up to eight candidates will come forward form all branches of the party, but that shortlist won't include the former deputy Prime Minister Michael Heseltine. The bookmakers had made Mr Heseltine their favourite at 7/4, but his hospitalisation for tests this weekend, has led to him ruling himself out of the leadership contest , Conservative Central Office confirmed tonight. At 36 William Hague was the youngest member of the last cabinet. He was appointed to the cabinet at 34 making him the youngest cabinet minister since Harold Wilson became President of the Board of Trade at 31 in 1947.

1995 leadership challenger John Redwood

John Redwood, who challenged John Major for the leadership in June 1995, has already indicated that he will stand. In response to Kenneth Clarke's announcement the Euro-sceptic former Welsh Secretary said there was "no time to lose" in opposing Mr Clarke's bid. Mr Redwood is likely to regard himself as the standard-bearer for the right after Michael Portillo lost his Enfield Southgate seat on Thursday. When asked on BBC Radio 4 about the ideal qualities a new leader would need, he said "clarity, vision, firmness of judgement, sureness of touch, which people can respect and follow."

Bookmakers make Mr Redwood joint fourth favourite alongside former Health Secretary Stephen Dorrell at 6/1. Speaking on BBC Radio 4 Mr Dorrell acknowledged he was in the running but stressed the most important issue the Conservative Party had to address was building a "broad based centre right coalition of interests". When asked the ideal qualities a new leader should possess, he said the "ability to identify a clear vision...to attract the support of different interests"

Michael Howard, the former Home Secretary is currently at 9/2 with former Education Secretary Gillian Shephard the outsider at 14/1.

Chris Patten, the former Cabinet Minister, and current Governor of Hong Kong has this evening ruled himself out of contention. The new Foreign Secretary Robin Cook has made it clear that Mr Patten will not be leaving his post in Hong Kong any earlier. A Foreign Office spokesman said "He has complete confidence in Mr Patten and looks forward to working with him in the interests of the people of Hong Kong."

Bookmakers report that they have been receiving some interest in bets on Baroness Thatcher as the next leader of the Conservative Party. They have given her odds of 500/1. There is no indication whatsoever, however, that Baroness Thatcher is prepared to stand.

John Major stands down

Mid-June before new leader is chosen

The 1995 leadership election