The former Chancellor and MP for Richmond confirmed his place in the final two of the contest yesterday, having won every round of voting amongst Conservative MPs.

But Ms Truss, the Foreign Secretary, who grew up in Leeds, is the bookies’ favourite to become the next Prime Minister after overtaking Penny Mordaunt for the first time in the final round of voting.

Conservative Party members will now have the opportunity to choose between the pair, with the winner due to be announced on September 5.

Rishi Sunak and Liz Truss will be in Leeds next week to make their cases to be the next Prime Minister

Early polling of Tory party members has consistently given Ms Truss a lead over Mr Sunak.

The first of the 12 official public hustings organised by the Tory party in the leadership contest has been set for July 28 in Leeds, before Liz Truss and Rishi Sunak tour the UK for questioning.

A hustings for the Conservative Councillors’ Association, organised separately and believed to be taking place behind closed doors, is expected to take place on Thursday.

Conservative members are expected to receive postal ballots by August 5, with the ballot shutting at 5pm on September 2 ahead of the final announcement.

Chairman Andrew Stephenson said: “We will shortly begin a hustings programme right across the UK, giving our members the chance to put their questions to the candidates.”

The candidates will also attend hustings in Exeter, Eastbourne, Northern Ireland, Manchester and London during their tour.

Mr Sunak, the frontrunner throughout the parliamentary leg of the contest, received 137 votes in the final round of voting. Ms Truss won 113 votes, narrowly pushing Ms Mordaunt into third place, on 105.

Mr Sunak said he was best placed to beat Labour’s Sir Keir Starmer at the next election.

He said: “We need to restore trust, rebuild the economy and reunite our country.

“I’m confident that we can do that and we’ve got a really positive message to take out to all our members now – crucially, who is the best person to beat Keir Starmer and the Labour Party at the next election?

“I believe I’m the only candidate who can do that.”

Ms Truss said: “I am excited to now take to the country to make the case to the Conservative Party about my bold new economic plan that will cut taxes, grow our economy and unleash the potential of everyone in our United Kingdom.

“As Prime Minister I would hit the ground running from day one, unite the Party and govern in line with Conservative values.”

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Rishi Sunak and Liz Truss face first public hustings in Leeds next week