Parties prepare for byelection in Farage seat amid speculation over £5m gift inquiry

Tories said to be ready to fight in Clacton, with standards investigation rumoured to be nearing its end

Nigel Farage's rivals are gearing up for a byelection in Clacton in the months ahead, amid speculation that the standards inquiry into his 5m gift is nearing a conclusion.

Conservative sources said the party was ready to fight in Farage's seat, although senior figures in the shadow cabinet are divided about whether it would be winnable, given Farage's victory in a byelection over the summer.