Zac Goldsmith has been chosen as the Conservative Party's candidate to run for London mayor in 2016, the Tories announced this morning

Zac Goldsmith has been chosen as the Conservative Party's candidate to run for London mayor in 2016, the Tories announced this morning.

The millionaire Conservative backbencher was elected with 70 per cent of the vote and will now fight Labour's Sadiq Khan to succeed Boris Johnson.

Mr Goldsmith, an outspoken environmentalist and opponent of expanding Heathrow, said he would cut the cost of travel and build more houses if elected.

Speaking after the announcment this morning, Mr Goldsmith said London had 'come a long way' under Mr Johnson.

But he said extra investment was needed on tubes and buses to avoid the city 'grinding to a halt'.

However, Mr Goldsmith added: 'The biggest challenge of all is the housing crisis. Londoners are being priced out of their city and we will need a step change in the number of homes built, and the manner in which they are built.

'I am honoured to have been chosen as the Conservative mayoral candidate and I will work tirelessly to repay that debt. I have campaigned hard as an MP, delivering for my constituents and I will fight just as hard to become Mayor so we can build on the progress under Boris in making London work for Londoners.'

Mr Johnson, the current, said he was 'delighted' at the maverick MP's confirmation.

He said: 'He's principled, hard-working, and dedicated, he's fizzing with ideas, and he's passionate about London and its people.

'In May next year this City needs its new Mayor to be a fighter, someone who's not afraid to knock some plaster off the political ceiling in pursuit of the best possible deal for London.

'Zac Goldsmith is that fighter. He's fearless. He will make a brilliant Mayor.

'I have no doubt he's the best candidate we could possibly have to deliver the vital infrastructure improvements, new housing, jobs and growth London's rapidly growing population will need in the years ahead.'

London mayor Boris Johnson will step down as Conservative mayor in May next year after eight years in City Hall

LABOUR'S SADIQ KHAN THE BOOKIES' FAVOURITE 8/11 Sadiq Khan (Labour) 11/10 Zac Goldsmith (Conservative) 50/1 George Galloway (Independent) 100/1 Caroline Pidgeon (Lib Dem) 100/1 Sian Berry (Green) 100/1 Peter Whittle (UKIP) Advertisement

Mr Khan, who won Labour's nomination last month, congratulated his Tory rival this monring.

He said: 'I welcome Zac Goldsmith to the mayoral contest and look forward to a positive and friendly debate about the big issues facing Londoners.

'This election is a referendum on London's housing crisis, and I challenge Zac Goldsmith to join me in opposing the Tories' Housing Bill, which will make our city's housing crisis many times worse.'

Mr Goldsmith - whose father formed the eurosceptic Referendum Party - indicated he was likely to vote for Britain to leave the European Union in the referendum on membership.

He told LBC: 'I am a eurosceptic, I have always been a eurosceptic.

'At the moment, I would like to give my backing to the Prime Minister to secure the reforms we need to make the European Union acceptable,' he added.

Mr Goldsmith said he would 'enthusiastically' back David Cameron if he won significant changes during his negotiations but said he was 'not going to tell you that's likely' and insisted he 'wouldn't be bound by any kind of whip'.

Labour's candidate Sadiq Khan (left) is the favourite to become London mayor - while George Galloway (right) is seen as a 50/1 outsider

The Conservative admitted he faced a tough battle against Mr Khan, who secured 48,152 votes during Labour's selection process.

He added: 'It's certainly not going to be an easy fight. If you look at the votes cast in the most recent election that puts Labour considerably ahead, so we have got our work cut out.

'He has been selected on the back of a surge in support for Jeremy Corbyn, as we know lots of new people signed up to that party.

'We know that Sadiq himself is capable of mobilising people very effectively, so yes, we have our work cut out.'