"We need someone who can provide stability and proven economic competence in these challenging times, and @RishiSunak is that person. That's why I'm backing him in the Conservative leadership contest," Shapps said in a tweet.
Sunak officially announced that he was running for prime minister earlier on Sunday after gathering enough support votes from fellow Tories. Former UK Prime Minister Boris Johnson, who is considered his main rival, has yet to announce his bid officially, though, according to reports, he has managed to secure the required minimum of 100 Conservative votes.
(From L) Britain's Prime Minister Boris Johnson, Britain's Chancellor of the Exchequer Rishi Sunak and Britain's Transport Secretary Grant Shapps attend a Cabinet meeting at 10 Downing Street, in London, on June 7, 2022
© AFP 2023 / LEON NEAL
The Telegraph newspaper reported earlier in the day that Sunak and Johnson held an 11—hour negotiation on Saturday but did not conclude any deal.
Outgoing Prime Minister Liz Truss became the shortest-serving prime minister in UK history, stepping down just 44 days after taking the helm. She will remain in office until her successor is elected. The Conservative Party will hold a vote to pick its new leader and next prime minister from October 24-28.