After six weeks which he described as "a vision of hell" Chingford MP Iain Duncan Smith lost a confidence motion tonight and said he would resign as leader of the Conservative party.

Needing 83 votes to survive, and after several hours of last minute one-to-one meetings with waverers, IDS could only muster 75 votes from among Conservative party MPs.

Ninety Conservative MPs voted against him in a coup which promises to provoke a violent reaction among the Conservative constituency organisations which formed his bedrock support for the leadership two years ago.

Speaking just moments ago IDS promised his "absolute loyalty and support" to the next leader, but said he would be taking no part or side in the election.

In a speech which emphasised the policies he has sought to establish during his time as Tory leader, IDS said, "I will not cease to be the champion" of the poorest elements in British society.

Acknowledging "an immense honour" to be Conservative leader, his thanks went "most of all" to the party activists and to his wife Betsy.

Nominations for the conservative leadership must be in by November 6th, with the first ballot probably on November 11th.

Within an hour of IDS's concession of defeat, David Davies, ex-Chairman of the Conservative Party, announced his decision not to run for the leadership in what is increasingly looking like a strong movement within the party to force the accession of Michael Howard without a protracted election contest.