My congratulations to Theresa – she has my full support. I am certain that she will be an excellent prime minister – one who will be visible and will make a real impact in the current political landscape. 

“Thinking of the future of our party, she faces one crucial challenge in particular. We urgently need to reform the party leadership selection process to make it more accountable and more democratic. We simply cannot have Conservative leader and prime minister appointed via a loophole in peacetime while the membership at large are effectively debarred from the final decision-making. This kind of appointment should come after proper democratic debate. We should never allow the democratic mandate at the heart of British political life to be called into question. 

“Theresa is someone who will have the courage to act on this. If we are to remain a party which truly respects its members and swells its ranks, then our processes and procedures must be truly democratic. This popular mandate is particularly important at a time when unity is called for, and when key decisions are imminent which will determine the future of this country and that of Europe.

“Those of us who are pro-business within the Conservative party strongly support Theresa. Our aim is now to help her develop and deliver a robust, high-impact business agenda. We must do everything we can to bring a modern, outward-looking business vision to a renewed government economic programme.