Finance professionals in the City of London see the prime minister surviving a no-confidence vote as a growing number of members of his Conservative Party seek to distance themselves from Partygate scandals and the Tories’ role in the cost-of-living crisis.

“If the Tories have any sense, they will replace him now,” City fund manager Nicola Horlick told Financial News. Downing Street said the prime minister welcomes the vote as "a chance to end months of speculation". If he loses, he will be forced to stand down.