Top Tories 'have talks about replacing Truss with Sunak and Mordaunt alliance'

Senior Conservatives discuss replacing Liz Truss with a joint list of former leadership candidates Rishi Sunak and Penny Mordaunt, according to reports.

Just weeks after Ms Truss became prime minister, MPs are reportedly plotting to nominate a unity candidate in a undisputed 'coronation' of a new Tory leader.

It comes as Ms Truss and Kwasi Kwarteng are set to backtrack on corporation tax cuts that were a key token of his leadership campaign.

A former Tory cabinet minister called the move "desperate" and said it wouldn't be enough to save the ca erers of Ms Truss and Mr Kwarteng.

“A Prime Minister and Chancellor reacting to the markets, the centerpiece of their core narrative for the economy shredded and there is no credibility left”, the MP told The Independent. "It's impossible for them to get over it."

Another MP said: "Rishi people, Penny people and sensible Truss supporters who realize she's a disaster have just need to sit together and figure out who the candidate for unity is either Rishi as Prime Minister with Penny as Deputy and Foreign Secretary or Penny as Prime Minister with Rishi as Chancellor” and could be achieved by increasing the number of candidates required to stand for election.

But another senior MP said it was “premature” for the party to think about getting rid of Ms Truss.They told the PA news agency that it would be considered "completely bonkers to have three prime ministers in one year".

Rishi Sunak lost to Prime Minister Liz Truss in the race to Tory leadership

A former minister says Ms Truss will 'probably have to fire' Mr Kwarteng in a bid to save his job from the disastrous mini-budget that has rocked the economy British.

"Even then, it might not be enough if it cannot regain the confidence of the markets," they told the Daily Mail.

< p>According to a YouGov poll, nearly half of those who voted Conservative in the last election want Truss to step down.

Some 62% say rank and file members made the wrong choice in the leadership vote, and 43% want to be party to appoint a new prime minister. Only 29% oppose it.

(Getty Images)

Mr. Sunak came second in the Tory leadership race with Ms Mordaunt finishing third.

Existing Tory rules prevent the Prime Minister from being removed from office by MPs for a year from his election. However, it is believed that these could be changed if the relevant party authorities were involved.