Rishi Sunak will become Prime Minister on Tuesday morning after Liz Truss has chaired her final Cabinet meeting and visited the King at Buckingham Palace, Downing Street has said.
Truss will make a statement outside No 10 at 10.15am after chairing the Cabinet at 9am.
The outgoing PM will then go to Buckingham Palace to offer her resignation to the King, who will then meet new Conservative leader Rishi Sunak and invite him to form a government.
Mr Sunak will then make a statement in Downing Street at 11.35am.
The key timings for Tuesday
09:00: Liz Truss will chair her final Cabinet meeting
10:15: The outgoing PM will make a statement outside No 10 before travelling to Buckingham Palace for her final audience with King Charles III, where she will formally resign
Sunak will then travel to Buckingham Palace for his first audience with the monarch and be invited to form a government
11:35: Sunak - who will at this point officially be prime minister - will then travel to Downing Street and make his own statement before entering No 10 as the UK's 57th prime minister
In his first speech as Conservative leader on Monday, Sunak warned that the UK faces a “profound economic challenge”.
Speaking at Conservative Party headquarters, he said: “I am humbled and honoured to have the support of my parliamentary colleagues and to be elected as leader of the Conservative and Unionist Party.
“It is the greatest privilege of my life, to be able to serve the party I love and give back to the country I owe so much to.
“The United Kingdom is a great country but there is no doubt we face a profound economic challenge.
“We now need stability and unity and I will make it my utmost priority to bring our party and our country together.”
He also paid tribute to Liz Truss for her “dedicated public service”.
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