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Liam Fox to stand for leader of Conservative Party

Scottish MP Liam Fox will run to become the Conservative Party's next leader and prime minister.

The former defence secretary becomes the latest senior Tory to throw his hat into the ring after Cabinet minister Stephen Crabb launched his campaign to replace David Cameron in Number 10.

Favourites Boris Johnson and Home Secretary Theresa May are yet to formally enter the race but are building support among Tory MPs and ministers.

Sources close to Dr Fox confirmed that he would stand for the leadership again, having lost to Mr Cameron in 2005.

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