Theresa May to make statement as she faces vote of no confidence from Tory MPs

Sir Graham Brady speaking to BBC Radio 4's Today programme, the chair of the 1922 committee would not say how many letters he had received, just that the threshold had been passed.

"She was very keen that the matter should be resolved as rapidly as reasonably possible," he said.

"That is something I was keen to facilitate, so we made sure the announcement was made this morning before the London markets open."

Theresa May will make a statement later this morning outside 10 Downing Street, a Number 10 source said.