Conservative MPs are said to be working on a plot to call off the general election by replacing Rishi Sunak as Tory leader.
There is a plot underway before Parliament is dissolved next Thursday.
One rebel Tory MP has told GB News he believes "several" more letters of no confidence in Sunak have been submitted to 1922 chairman Sir Graham Brady.
Rishi Sunak announced earlier today the General Election will take place on July 4.
Prime Minister Rishi Sunak issues a statement outside 10 Downing Street
PA
The MP told GB News: "Today has clearly been an absolute disaster but the election is NOT irrevocable; up until the point of the Dissolution of Parliament - when the writs are moved to begin the contests, it can still be aborted.
"In other words, if enough Tory MPs, who are clearly going to lose their seats in this already utterly shambolic campaign, write to Sir Graham Brady, tomorrow , the election could still be revoked."
One Conservative MP told GB News: "This is a disaster - he is condemning the Tory party to election oblivion.”
Another added: "This is absolute madness. The launch was a farce."
LATEST ON THE GENERAL ELECTION 2024
Rishi Sunak launching the Conservative's General Election campaign in east London
PA
At a launch rally at the ExCel Exhibition Centre in east London, Rishi Sunak hailed Conservative activists as "the life blood of our incredible party" who were "up for this General Election."
Flanked by Cabinet colleagues and introduced by Home Secretary James Cleverly, the Prime Minister spoke in shirtsleeves following his appearance in the rain in Downing Street earlier on Wednesday.
Referring to news that inflation had fallen to 2.3 per cent, he said he had delivered on his first pledge to the British people, adding: "We have shown the country that it is only this Conservative Party that can deliver the economic stability, the foundation of our national success."
He also repeated warnings that Labour would take the country "back to square one", adding: "We know the only certainty with Labour is they will run out of money and raise your taxes."
Sir Keir Starmer launched Labour's campaign earlier today
PA
Speaking at a launch event in central London, Labour leader Sir Keir Starmer said: "I am well aware of the cynicism people hold towards politicians at the moment. But I came into politics late, having served our country as leader of the Crown Prosecution Service.
"And I helped the Police Service in Northern Ireland to gain the consent of all communities. Service of our country is the reason – and the only reason – why I am standing here now, asking for your vote.
"And I believe, with patience, determination and that commitment to service, there is so much pride and potential we can unlock across our country. So here it is, the future of the country, in your hands.
"On July 4 you have the choice. And together, we can stop the chaos. We can turn the page, we can start to rebuild Britain, and change our country."