Boris Johnson and Tory ministers are set to receive a redundancy payout of £420,000 due to being entitled to 25% of their annual salaries

Boris Johnson and Tory ministers are reportedly entitled to £420,000 in redundancy pay.According to the Ministerial and Other Pensions and Salaries Act 1991, MPs are to receive 25% of their annual salaries in redundancy pay when leaving office.All MPs are allowed this pay even if they "leave the government in disgrace".

In the last two days, more than 50 MPs have resigned over Johnson's leadership and today the Prime Minister officially announced his resignation.During his resignation speech outside Number 10 Downing Street, Johnson said:"It is clearly now the will of the parliamentary Conservative Party that there should be a new leader of that party and therefore a new prime minister, and I've agreed with Sir Graham Brady, the chairman of our backbench MPs, that the process of choosing that new leader should begin now and the timetable will be announced next week.

"He added: "And I've today appointed a cabinet to serve as I will until the new leader is in place."So I want to say to the millions of people who voted for us in 2019, many of them voting conservative for the first time: thank you for that incredible mandate."Johnson's resignation came just days after former Chancellor of the Exchequer Rishi Sunak and former Secretary of State for Health and Social Care Sajid Javid stepped down from their roles.Sunak and Javid resigned following the row over how the misconduct claims against the former deputy Chris Pincher were handled.Pincher stepped down as Deputy Chief White on June 30th, after he allegedly groped two men while he was drunk.