The Treasury minister says he is talking to constituents about whether he should run.
Herefordshire MP Jesse Norman has been promoted to replace Jo Johnson as transport minister, Downing Street says.
Mr Norman, Tory member for Hereford and South Herefordshire, was previously a junior minister in the department of transport.
The Daily Politics
We've heard some really beautiful, uplifting versions of Three Lions today.
We've also heard Jesse Norman, MP for Hereford and South Herefordshire, play the tune on his trumpet at the end of the BBC's Daily Politics programme.
Here it is, just in case you missed it earlier.