Before the 2023 elections, Chief Minister Fabian Picardo announced that if elected, his fourth term as Chief Minister would be his last, and suggested Gemma Arias-Vasquez (New Minister for Health, Care & Business) to be his successor as leader of the Gibraltar Socialist Labour Party, if elected by the party, thus would become Gibraltar's first female Chief Minister and MP who takes the role without being a party leader, if decided in the general election.

Nigel Feetham, the new Minister for Justice, Trade & Industry, has also expressed interest in succeeding Picardo as party leader on social media.

Feetham subsequently rescinded his leadership bid, which resulted in Picardo being re-elected party leader unopposed.

Under section 38(2) of the Gibraltar Constitution Order 2006, the parliament must be dissolved four years after its first meeting following the last election (unless the Chief Minister advises the Governor of Gibraltar to dissolve parliament sooner).

[3] With the first meeting of the current parliament taking place on 10 November 2023, parliament must be dissolved before midnight on 9 November 2027, writs must be issued by 9 December 2027 and an election must take place before 8 March 2028.