The BBC will broadcast a final TV debate called “Our Next Prime Minister” between the final two candidates in the contest on 25 July.
It will be presented by Sophie Raworth, with analysis from BBC Political Editor Chris Mason and BBC Economics Editor Faisal Islam.
The programme will broadcast live from Stoke-on-Trent in front of a 80 to 100 strong audience at 9pm on BBC One.
TV debates have already taken place on Channel 4 and ITV.
The BBC has confirmed that all three remaining candidates – Rishi Sunak, Penny Mordaunt and Liz Truss, have agreed to participate in the debate if they make it to the final two, after Sky News was forced to cancel its own planned debate when Mr Sunak and Ms Truss declined to take part.
The main event today is the third round of voting which will whittle the five Tory leadership candidates down to four. Here are the 5 MPs still in the race:
The vote itself is scheduled to take place 5pm to 7pm on Monday 18th July 2022.
The person with the fewest votes is eliminated from the contest and will then have to decide which of their rivals to support instead. It’s common practice that at least some – if not all – of a former candidate’s backers will be guided by their decision, which could prove vital as we edge closer to the final run-off of two candidates.
The result of the vote is expected at 8pm
The Voting process will be repeated until only 2 remain.
The two remaining MPs will then travel the country and rally support at hustings. They will each have a budget of £300,000, excluding travel, to spend on their campaigns.
The final two candidates will contest a vote among the 200,000 Conservative Party members. This tiny group, which works out to about 0.29 per cent of the population, will decide the next prime minister.
The first Tory leadership debate took place on live television on Friday evening. Hosted by journalist Krishnan Guru-Murthy and broadcast on Channel 4, with streaming on All4, the event was watched by 7.4 million viewers.
Here’s how the papers ranked the winners and losers of the debate.
The New Statesman
Tom Tugendhat / Rishi Sunak
Bookie’s favourite at this stage is Penny Mordaunt