Duncan Smith elected leader

Shadow defence secretary Iain Duncan Smith has been elected as leader of the Conservative Party with 61 per cent of the vote.

Mr Duncan Smith won 155,933 votes, compared to rival Kenneth Clarke's total of 100,864.

The result - which had been delayed by a day due to the terrorist attack on America - marks the end of a divisive campaign that has lasted for three months.

William Hill has already lengthened the odds on the Conservatives winning the election from 3/1 to 7/2.