The Prime Minister's statement came about an hour after it was confirmed the chairman of the Conservative backbench 1922 Committee, Sir Graham Brady, had received the 48 letters of no confidence from Tory MPs required to trigger a ballot on the leadership.
Webb said: "If they were forced to go into an election now with her as a leader that puts her in an extremely hard position to campaign - which would be very hard for the Conservative Party".
Amber Rudd, the Work and Pensions Secretary, has said the "Norway Plus" mode "seems plausible not just in terms of the country but in terms of where the MPs are".
The leadership challenge marks a violent eruption of the Conservative Party's decades-long divide over Europe and throws Britain's already rocky path out of the European Union, which it is due to leave on March 29, into further chaos.
The British Pound is seen extending back to recent highs on Thursday, but we would expect the currency's gains to ultimately be limited to tight ranges for the duration of the two-day European Council summit which gets underway today.
Theresa May survived a vote of confidence on Wednesday by promising Conservative MPs to deliver "legal and political assurances" that the United Kingdom could not be trapped in the Irish border backstop. The deal is likely to be voted on before January 21 and the delay may help the Government by convincing MPs they have no alternative.
"A Brexit that delivers on the vote of the people", she said, adding that she meant to carry on negotiating with the European Union (EU) over controversial aspects of her Brexit deal when she heads to Brussels for a pre-scheduled European Council meeting on Thursday. They complained that the vote should have been held the following Monday to give them a chance to campaign among colleagues and agree on a candidate to challenge May.
"The prime minister should put her deal beforeparliament next week in our country's interest", he said, adding that there was "no time to waste".
If Mrs May can not secure legally-binding changes to her deal and it falls in the Commons, she has pledged to bring forward a motion by January 21 laying out what she will do next.
Last night, the Conservative party declared that she had survived by 200 votes to 117. The only option available to them will be to try to bring the government down by supporting the Labour Party opposition in a parliamentary vote of confidence.
Burton and Uttoxeter MP Mr Griffiths said he was backing the Prime Minister.
Some shadow ministers are more sceptical about calling a no confidence vote early, fearing it would only unite the Conservatives behind May.
Corbyn has said the vote makes "no difference" and described her government as "in chaos".
Jacob Rees-Mogg, who led calls for the confidence vote, said losing the support of a third of her MPs was a "terrible result for the prime minister" and he urged her to resign.
"My focus now is on ensuring that I can get those assurances that we need to get this deal over the line, because I genuinely believe it's in the best interests of both sides - the United Kingdom and the European Union", she said.
May wants legal assurances the Irish "backstop" - an emergency fix to prevent extensive border checks on the island of Ireland and the most contentious element of the deal - would not remain in place indefinitely. If May can not get her exit terms through Parliament, the United Kingdom will be on course for a no-deal Brexit, risking economic and political upheaval.
"She clearly doesn't have the confidence of the Commons".