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Friends of Rishi Sunak have insisted that the former prime minister “has no intention” of quitting British politics after he steps down as Tory leader on 2 November.
It is understood that Mr Sunak is already in the process of setting up his own operation based around his inner circle in Downing Street including former political aide and longstanding friend James Forsyth.
“Rishi has lots of money so he is still employing his aides,” a former cabinet minister said. “He has no intention of quitting British politics – quite the reverse.”
The claims appear to scotch claims that Mr Sunak is planning to relocate to California for a new life and career – something he has previously denied himself.
It is being suggested that Mr Sunak saw how Tony Blair built his institute after losing power and is looking at possibly creating a foundation or “a version of a former president’s office” to continue to influence the Conservative Party and British politics. The Tony Blair Institute is now the richest and biggest thinktank in British politics.
The revelation comes as the Tory party gathers for its annual conference in Birmingham which has been transformed into a hustings for the final four leadership candidates – Robert Jenrick, Tom Tugendhat, James Cleverly and Kemi Badenoch.
With MPs due to cut the number down to two before putting a final choice to members, the new leader could find that Mr Sunak is potentially running a rival operation generating his own ideas and policies.
A foundation could focus on some of Mr Sunak’s own personal interests including the development of artificial intelligence (AI) or reforming education. He had wanted to extend compulsory maths to all A-level students and introduce a new qualification.
One former minister told The Independent that Mr Sunak feels that he can still make a contribution despite leading the Conservatives to the worst defeat in their 346-year history with just 121 MPs.
Another noted: “He feels like he has unfinished business and Labour are now trying to tarnish his legacy of fixing the economy.”
Mr Sunak only made a brief appearance at the conference giving a speech in private to the National Convention on Sunday before leaving again for the party to focus on the race to replace him.
He and his wife Akshata Murty have a personal fortune and can afford to start up a foundation to push his political message.