Jacob Rees-Mogg has distanced himself from speculation that he could be the next leader of the Conservative Party as he insisted "no one serious thinks that I am a credible candidate".

Mr Rees-Mogg said he had “no wish” to take over from Theresa May despite a recent survey of Tory members suggesting he was the frontrunner to do so.

Meanwhile, he also said the UK should not have to pay any kind of Brexit divorce bill if Britain leaves the EU without a deal as he said the Government does not owe Brussels a “brass farthing”.

The leading Tory Eurosceptic MP said there is no legal basis underpinning a demand from the bloc for the UK to pay a financial settlement.

Rees-Mogg: the backbench MP who's become an unlikely cult figure online