Hague: Ruling out leadership bid

As senior Tories prepare for the party's leadership election, William Hague has ruled out a return to the top job.

Following Tuesday's reshuffle, top Conservatives are weighing up their options.

In a move which will disappoint some of his colleagues, former leader William Hague said he would not seek the role - conceding that his decision to hand the power of appointment to rank-and-file members had been a mistake.

"I certainly will not be standing for the leadership, however many people ask me to do so," he said.

"I say that with some regret but the original plan to give the decisive vote on the leadership to the members really hasn't fulfilled its expectations to put it mildly."

No rush

While Howard has signalled he is to step down, the election could be delayed for up to six months to give the party time to determine new rules for the election of a new leader.

Through his reshuffle, Howard has given all potential candidates the opportunity to prove their mettle in front of their parliamentary colleagues.

The biggest surprise of Tuesday’s shake-up was Howard's decision to appoint 33-year-old George Osborne - Hague's former political secretary - to the post of shadow chancellor.

Osborne, seen as one of a clutch of young turks, now faces the tough task of opposing Gordon Brown in the House of Commons.

Fellow rising star David Cameron, who has been tipped as a future leader, was also promoted - taking the position of shadow education secretary.

Senior Tories have responded to the reshuffle in mixed terms, but have welcomed the apparent break with the past - and the return of modernisers such as Francis Maude, who becomes party chairman.