Isabel Hardman

Does Penny Mordaunt know what she's getting herself into? One of her most striking promises is to give MPs something called 'social capital pots’: cash to spend in their constituencies. They are part of her attempt to soothe colleagues by describing them as ‘people who want to serve’ – and to weaken the power of the Treasury. 'I want to give you more agency to serve your community,' she said. While these pots sound unremarkable, Mordaunt would be significantly changing what an MP actually does This is a fascinating idea, and not just because it flatters MPs' egos. It's more than the 'pork barrel politics' some critics have alleged of the idea, because Penny Mordaunt would be significantly changing what an MP actually does.

Is Boris Johnson going to turn up to Prime Minister’s Questions next week? The final answer he gave to Keir Starmer at today’s session suggested he either thought this was his valedictory PMQs, or that he’s planning to be elsewhere next Wednesday. He said the next leader might be chosen by ‘acclamation’ – which doesn’t seem likely given how hostile the many camps are being to one another. Johnson added that ‘it is possible this will be our last confrontation’, and gave a barbed thanks to the Labour leader for being ‘considerably less lethal than many other members of this house’. He also said he would be leaving with his ‘head held high’.

Today's the day in the Tory leadership race where it starts to look less like a fun run with anyone and everyone taking part. By this evening, candidates need to have the backing of at least 20 of their MP colleagues. Rishi Sunak, Penny Mordaunt and Tom Tugendhat are the only candidates out of a field of 11 (and possibly still growing) to reach the threshold. It means today will be a frenzied round of conversations in the corridors of power, with half of Conservative MPs still to give their endorsements (read the full list here). Liz Truss isn't far off reaching the threshold, but she is competing with Suella Braverman, Kemi Badenoch and potentially also Priti Patel One of the big tussles is over who gets the backing of the right of the party.

What did Sajid Javid pitch himself as this afternoon? Well, the candidate of tax cuts, along with all the others apart from Rishi Sunak. But given everyone is engaged in an arms race on how big and how soon their tax cuts will be, there is largely Conservative consensus now that these are going to happen. So what does the former Health Secretary think will make him stand out from the (very big) crowd? The central message of Javid's campaign launch was that the Conservatives are facing an existential threat if they don't change Javid had an extremely sweaty launch today as the temperature in London rose and the heat in the contest got worse.

All the candidates in this Tory leadership contest will have to pay tribute to the importance of standards in public life, given what did for Boris Johnson. For some of them, this will probably be as meaningful as posting a #bekind meme on social media. But if there isn't a wider reckoning over standards and particularly sexual harassment, then the Conservatives –  and all the other parties –  are just setting themselves up for more scandals. This should matter particularly to the Tories given their general belief in preserving and strengthening institutions: parliament as a whole has been seriously damaged by the scandals of the past few months, and so far there is precious little evidence that anyone is bothering to think about how that will change.

Boris Johnson has just given a bitter resignation speech that makes clear he is not going anywhere until a new leader is in place. He has set up a betrayal narrative, pointedly thanking the British public – but not his own party – for his time in office and saying it would be ‘eccentric’ to change leader when the Conservative party is only a few points behind Labour in the polls. There was no space to thank colleagues in government when he listed the work he was proud of and the projects he had hoped to see through to their conclusion. It was centred around him, not the collective effort, or indeed the Conservative party.