Attention now turns to a replacement for Liz Truss.
Rishi Sunak, the former chancellor, who was runner-up to Ms. Truss in the Tory leadership race, is favourite with the bookmakers to replace her.
Penny Mordaunt is also a contender, the leader of the house Commons finished in third place in the leadership race before she backed Ms. Truss's bid.
Ben Wallace, the former Defence secretary is also in the frame. He stayed neutral during this summer's leadership battle before eventually backing Liz Truss.
The bookies are also offering good odds on a return for Boris Johnson.
Former culture secretary and Johnson ally Nadine Dorries has tweeted "Only one MP has a mandate from party members and from the British public - a mandate with an 80 seat majority. That is Boris Johnson."
