The root cause of the problem is that too few Tories realise that we are in the midst of the political equivalent of a bank run: the depositors are queuing to take their money out, and the whole system is about to implode. The choice is either urgent, decisive and painful action, or a Canadian-style collapse for the Tories when the inevitable general election comes. Every passing day is an embarrassment, further toxifying the Tory brand, and each one of Mrs May’s pronouncements costs the party yet more support that it will struggle ever to recover. The European elections will be a catastrophe.

Tory MPs and the remaining members of the Cabinet need to understand the depth of their predicament, and do anything they can to accelerate Mrs May’s ejection from office. They should snap out of their debilitated stasis, pull out their fountain pens and get writing to Sir Graham. The other Cabinet members must realise just how badly their own reputations are being damaged: they are propping up Mrs May, and they are still far too obsessed with their own leadership prospects to want to rock the boat. Do they really want to lead a rump opposition party, or even lose their own seats, which is where their cowardice and excessive caution could eventually lead?

There may be a chance of a Tory-Brexit Party pact at some point but zero chance that supporters of Mrs May’s deal or her allies will be spared the full force of Nigel Farage’s party. Any Cabinet minister with a sense of self-preservation must therefore follow Mrs Leadsom in repudiating both. It is their only chance.

Eoin Treacy's view

Theresa May took the job of Prime Minister in large part because no one else wanted it, and everyone knew from the outset it was a poison chalice. She has failed, as expected, to bridge the chasm between the Leave and Remain sides of her party. However, because of the betrayal of the vote for a clean break she is now is facing the clear potential for schism with in the Conservative Party. Under Theresa May’s watch a third force has emerged in UK politics, with far more groundswell appeal than the Liberal Democrats ever had. That is something she deserves all the blame for. The lurch towards the fringes and away from the status quo is now well underway. It has been my opinion for months that both the Conservatives and Labour would be eviscerated at the next election. Now we know what the alternatives look like.