Issues / Theresa May is resigning. What happens now? May 24th, 2019 Hot Topic | Theresa May will formally resign on 7th June. The UK will have a new PM within the next few months. Here’s what you need to know about what happens next: A Conservative leadership election is triggered from 10th June (tentative). Theresa May will stay in place as PM while this takes place.This is roughly a 6 week process. MPs put their names into the hat as leader as the Conservatives, and therefore PM. Conservative MPs whittle the candidates down to 2 candidates through secret ballots. Conservative Party members can then vote for who will become leader from the remaining 2. The new PM will be in place from July and will take up full duties once Parliament starts again in September. Given the time it would take to pass the deal, it's likely that the UK will need a further extension to Article 50, or leave with no deal. Recent Articles Should we abolish private schools? What is the Loan Charge?