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Michael Martin is set to announce he will stand down "soon" as Speaker in a Commons statement to MPs at 1430 BST.
Mr Martin has been criticised over his handling of the furore over MPs' expenses and a motion of no confidence in him has been backed by 23 MPs.
It will be the first time in 300 years that a Speaker has effectively been forced out of office.
Sources have told the BBC that Mr Martin also will trigger a by-election by standing down as an MP.