The announcement was made on Thursday by Downing Street.
Reports say the embattled Prime Minister also convinced his new cabinet that he will act as caretaker PM until a new person assumes duty.
In a meeting with his new cabinet members, Johnson said major fiscal decisions” would be left for the next prime minister and the government would not seek to implement new policies
But many Conservative figures, including former Prime Minister SIR John Major, said Johnson should go sooner
Meanwhile, a timetable for succession is set to be announced by the 1922 Committee of backbench MPs next week
Transport secretary Grant Shapps and former health secretary Sajid Javid are considering running in the Conservative leadership contest, while Attorney General Suella Braverman says she will put her name forward
