Portillo stands down after defeat

Michael Portillo has resigned from mainstream politics after his humiliating defeat this afternoon in the latest round of the British Conservative Party leadership race.

Portillo, who was favourite to succeed William Hague, was eliminated after Kenneth Clarke and Ian Duncan Smith secured the votes required to contest the final round of the vote.

Portillo received 53 votes today, one less than Duncan Smith and six less than Clarke.

Speaking after the result, he said he will never again seek front bench office in the Conservative Party.