As Iain Duncan Smith fights to save his leadership, Michael Howard has already emerged as the man most likely to succeed him.

With Kenneth Clarke, Michael Portillo and Oliver Letwin unlikely to enter any race, Howard is set to become the frontrunner in what many expect to be a relatively quick election process.

Conscious that at this stage in the parliament a protracted election battle could do the party grave damage, MPs hope the election could be over by Christmas.

And many MPs also hope it will be Howard, rather than an untested candidate such as Theresa May or David Davis, that makes it to the finishing line.

The former home secretary is seen as a combative performer. Whilst most doubt he has the ability to achieve popularity of Blairesque proportions, they believe he can put the party back on the road to victory.

Analytical and aggressive, he would pursue the prime minister with a single minded determination to expose the weaknesses of a Labour government entering trouble territory.

But his links to the Major era - coupled Ann Widdecombe's "something of the night" comments - are a reminder that he would not be a risk-free candidate.

As home secretary he was characterised as brutal and right wing, clamping down on squatters, illegal immigrants and groups of protesters.

Despite that many Tories believe his tonic is just what the party needs at a time when government weaknesses are becoming clearer.

Those close to Howard, however, also concede that the electoral arithmetic could prove difficult for their man.

Whilst he is likely to secure the majority support of MPs, in a run off before the party's grassroots Howard could easily lose out to a candidate such as David Davis.

In the early stages of the election, therefore, MPs will be voting tactically present the party's grassroots with a virtual fait accompli - Howard and Whathisname?.

Others are mindful that last time around the heavyweight candidate lost out to the virtual unknown and don't mind pointing out that this could happen again.

If the bookies have any insight, however, then the smart money is still with Howard.

Whilst he must still decide whether he actually wants the job, William Hill ranks him 11 to 10 favourite.

Theresa May on the other hand is ranked at 16 to one - with Michael Ancram securing the same odds.

Davis is a more likely candidate but many at Westminster would hope to vote tactically to ensure he remains off the final ballot paper.

And, of course, the quiet man is by no means dead despite the mauling in today's newspaper.

But to secure the support of his colleagues today Duncan Smith had to step forward and deliver the performance of his life.

Following his appearance in the Commons, media reports suggested that four separate press conferences will be held later today by potential leadership contenders Tim Yeo, Michael Ancram, David Davis and Michael Howard.

Tory chairman Theresa May has spent much of the day sidestepping questions on whether she would stand in a leadership contest.