What will Sunak do next after missing his shot at the top job?

Rishi Sunak has been an MP for seven years, on the front benches for four-and-a half; but after months battling it out with Liz Truss for the top job, what next for the man who was nearly prime minister?

There has been plenty of speculation that Liz Truss could offer Mr Sunak a role in her cabinet, as is customary at the end of a Tory leadership race.

David Davis remained shadow home secretary under David Cameron, Jeremy Hunt reportedly refused an invitation to join Boris Johnson’s government.

Liz Truss previously said she would “love” Mr Sunak to be part of her team if she won, and there are rumours he could be offered the health brief.

However, Rishi Sunak has hinted he would not serve under Truss. He told BBC Radio 2: “One thing I have reflected on a bit being in government and cabinet [is] you really need to agree on the big things because it’s tough I found if you don’t, I wouldn’t want to get into a situation like that again.”

An ally of the Rishi Sunak told me: “These aren’t small differences, he has called Liz’s economic plans immoral… it would be pretty hard for him to come out on the morning round and defend her now.”

A rebel on the backbenches

From Ted Heath to John Redwood and David Davis, former leadership rivals have proven to be a thorny presence on the backbenches. Jeremy Hunt’s role as chair of the health select committee gave him plenty of opportunity to land criticism on Boris Johnson’s handling of the pandemic, and Boris Johnson himself was a backbench troublemaker after quitting Theresa May’s cabinet.

There are now likely to be several big political beasts on the backbenches – including Dominic Raab and Michael Gove – who have not been shy about criticising the new prime minister. Mr Gove accused Ms Truss’s team of taking a “holiday from reality”.

Politics Hub: Live analysis of the Tory leadership election result from our team in Westminster

The Tories may have a big majority, but significantly more MPs wanted Rishi Sunak to be prime minister, and they have the potential to make life difficult for Liz Truss. After suggestions he would vote down a Liz Truss budget, Rishi Sunak said he would “always support a Conservative government”, but the former chancellor could be a powerful rebel ringleader if he chooses to be.

A life in outside politics?

During the leadership contest, Rishi Sunak suggested he would remain MP for Richmond, North Yorkshire. He told the Times: “It is the most unbelievable privilege… it would take a lot for me to give that up”. In an interview with the FT he said: “I’m not planning on leaving politics”.

But the bigger question is whether he stands at the next election.

Now that his hopes of being the next prime minister have been dashed, could the former chancellor (who famously only recently gave up a US green card and has a home in California) be headed on a one-way trip to America?

Rishi Sunak’s critics are certainly keen to portray him as ambitious and uninterested in life as a British constituency MP. Plenty of former ministers have enjoyed illustrious careers after frontline politics, from George Osborne editing the Evening Standard to Nick Clegg’s highly remunerated job at Facebook.

The one thing Rishi Sunak does not need is money; but could he be attracted to the prospect of a high-profile role beyond politics? One ally tells me: “Rishi is highly capable and ambitious, he won’t struggle for offers but I can’t see him cashing in.”

Another friend tells me Rishi Sunak and his family see their Santa Monica flat as a “home” and an escape from Westminster. After a summer of bruising blue on blue, could the Californian beaches be waiting for the man who was nearly prime minister?