Lord Hague has pleaded with Conservative Party members to back Rishi Sunak in the Tory leadership race as he warned the next prime minister faces “one of the hardest jobs in the world at the worst moment in decades”.

The former Tory leader said in a video message that “the next couple of years will be one of the toughest periods in the entire history of the job”, and he believes Mr Sunak is the “exceptional individual” needed to steer the nation through the choppy waters.

The intervention comes after Mr Sunak was accused by Nadhim Zahawi, his successor as Chancellor, of having a “doomster” attitude in contrast to the “booster” economic approach adopted by Liz Truss.

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