The Conservative Party will announce its new leader on November 2, following the resignation of Rishi Sunak after a historic electoral defeat. The party's 1922 Committee has established rules for the leadership contest, requiring candidates to secure a proposer, seconder, and eight additional nominations by July 29. Notable potential candidates include Kemi Badenoch, Priti Patel, Tom Tugendhat, and James Cleverly. The leadership race will narrow down to two finalists through several rounds of voting by the 121 Conservative MPs, with the winner selected by party members in an online vote in October. Sunak will remain as acting leader until a successor is appointed, emphasizing the need for a smooth transition to maintain party stability. Meanwhile, Welsh Labour is preparing for a leadership election to replace Vaughan Gething, with the new leader expected to be confirmed by September 14.