Meanwhile, Rishi Sunak has claimed that his wealth and international banking skills don’t prevent him from understanding the plight of low-income families.
But when exactly will the second ballot take place and when will we know its results?
Here’s everything you need to know about it.
When will the second ballot take place?
Today, the lowest-ranked of the six remaining candidates will be eliminated in a second round of voting to choose the new leader of the Conservative Party.
Tory MPs will cast their second ballot vote from 11.30am today and have until 1.30pm to do so.
The candidate with the fewest supporters will be ousted from the race, and the party will continue to vote over the next few days until only two remain.
The couple then faces a summer of hustings and a final vote by Tory party members before a winner is announced on September 5.
Who could be knocked out at this stage?
Liz Truss supporters are already pressuring Suella Braverman and Kemi Badenoch to drop their candidacy and their supporters for the party’s right to rally behind the Foreign Secretary.
Braverman made it to the second round with 32 votes (anyone with less than 30 was eliminated), while Ms Badenoch received 40.
Former Chancellor Rishi Sunak took first place in the first ballot, but the race to the finals is far from over.
Trade Secretary Penny Mordaunt took second place, relegating Secretary of State Truss to third place.
Mordaunt’s impressive performance earned her 67 votes, 17 more than Truss, while Sunak garnered the support of 88 MPs.
Former Equality Minister Kemi Badenoch, Tom Tugendhat and Attorney General Suella Braverman also made it to the second round with 40, 37 and 32 votes respectively in the first ballot.
Who’s been knocked out?
Jeremy Hunt has announced his support for Rishi Sunak before the second ballot in the Conservative Party leadership contest.
Hunt and Chancellor Nadhim Zahawi both dropped out of the race to succeed Boris Johnson after failing to secure enough support in the first vote.
Support for Sunak will give impetus to his campaign.