• 09:30 BST: Theresa May will chair a final meeting of her cabinet
• Around 11:45 - 12:00 BST: The result of the Tory leadership contest will be announced, followed by a speech from the winner
• 12:00 BST Wednesday: Mrs May's last PMQs
• In the afternoon she will make a speech outside Downing Street before going to Buckingham Palace to meet the Queen and formally stand down
• The new PM will then head to the palace before going to Downing Street to make a speech
• He will then begin appointing his cabinet

Good morning and welcome to our live coverage of the Tory leadership contest.

Boris Johnson and Jeremy Hunt are battling it out to become the next Conservative leader - and prime minister.

The result is expected at around 12:00 BST so stick with us for the latest.

Live coverage of the Commons and Lords continues on the video streams at the top of this page.

You can also catch up with today's events in Parliament with Today in Parliament on BBC Radio 4, at 23:30 BST.

House of Commons
Parliament

Image source, HoC

Sir Alan Duncan resigned as a Foreign Office minister earlier today in protest against a possible Boris Johnson victory in the Conservative leadership race.

He told the BBC he had stepped down in order to demand an emergency Commons debate to give MPs a chance to say whether they supported Mr Johnson's "wish to form a government".

Sir Alan said he was "absolutely astonished" that the request for a debate was rejected by Speaker Bercow.

House of Commons
Parliament

The SNP's Foreign Office spokesman Stephen Gethins says there are concerns the UK has been "ill-prepared for this".

"Why wasn't this foreseen?" he asks.

"This is a dangerous situation and there must be a clear understanding of what's going on as well as looking at ways of de-escalating the situation," he says.

House of Commons
Parliament

Shadow defence minister Fabian Hamilton responds - standing in for shadow foreign secretary Emily Thornberry who is recovering from a bike accident.

He describes Iran's actions as "unacceptable" - however, he also criticises the British government.

"Why on earth was a British-flagged tanker left so hopelessly unprotected in the Strait of Hormuz?" he asks.

He says "anyone with any understanding of the situation would see this was exactly how the Iranians would respond" to the detention of one of their own tankers.

"Why was the government's eye so patently off the crystal ball?" he asks.

Mr Hunt replies that the government has been doing a "huge amount to deescalate the situation".

House of Commons
Parliament

Image source, HoC

Meanwhile in the House of Commons Foreign Secretary (and Tory leadership hopeful) Jeremy Hunt makes a statement on the situation in the Gulf region.

On Friday, a British-flagged tanker was seized by the Iranian Revolutionary Guard in the key shipping route of the Strait of Hormuz after Tehran said it was "violating international maritime rules".

Mr Hunt accuses Iran of "state piracy" and calls for the release of the tanker and its crew.

The government has been accused by one Conservative MP of "taking its eye off the ball" by not providing an escort for the tanker, however Mr Hunt says it was not possible for the Royal Navy to escort every tanker.

He says the UK is seeking to put together a European-led maritime protection mission to support safe passage in the region.

Scottish Liberal Democrat leader Willie Rennie praises the election of the new leader.

He says: "Jo Swinson is the fresh, positive new leader who will take the Liberal Democrats to greater heights by reaching out to new groups of voters and building on the success of recent elections.

"Jo provides a stark contrast between the indecisive Jeremy Corbyn and chaotic Boris Johnson and will lead the country away from the forces of populism and nationalism.

"Jo is not tribal and will work with others to stop Brexit, stop independence and build a country that is richer, cleaner and greener."

Chair of the Labour Party, Ian Lavery, condemns the new Lib Dem leader for the part she played in the coalition government with the Tories between 2010 and 2015.

He says: “Jo Swinson sat at the top table of the coalition government and voted for vicious attacks on the most vulnerable and tax cuts for the super-rich and big businesses.

“Austerity couldn’t have happened without Liberal Democrats – leading to shocking levels of child poverty, the tripling of tuition fees, a homelessness crisis and rising food bank use."

Jo Swinson says if people want change, they should join the Lib Dems.

"Shouting at the television is not enough," she said. "You need to join us.

"If you want an economy that works for people and our planet, want to build a richer, greener, safer future, if you want to keep our nations united, come join us.

"Let's change politics so we can transform our country."