Brexit weakens George Osborne's leadership chances, says senior Conservative

George Osborne leaves St Margaret’s Church after attending a service to commemorate the murdered Labour Party MP Jo Cox, on June 20, 2016.
George Osborne leaves St Margaret’s Church after attending a service to commemorate the murdered Labour Party MP Jo Cox, on June 20, 2016.PHOTO: AFP

LONDON (REUTERS) - British finance minister George Osborne's chances of succeeding Prime Minister David Cameron have been "much weakened" by the country's decision to quit the European Union, senior Conservative Party member Alan Duncan said on Saturday (June 25).

Cameron said he would resign after Thursday's referendum result showed 52 per cent of Britons wanted to leave the EU.

"Remain" campaigner Osborne, Cameron's political ally and finance minister since 2010, had been seen as the front runner to become the party's next leader.

Chief Brexit campaigner Boris Johnson is now the favourite to become prime minister in a leadership contest which will be concluded by October. "He is much weakened, of course," Duncan, a former minister, told BBC radio. "I think it's probably going to be very difficult for him to stand on the back of this. I would have supported him in different circumstances."