Let's hear from Conservative MP Laura Trott - she's backing Rishi Sunak and was one of those to quit her government role before Johnson resigned.

On taxes: She says the former chancellor - who earlier warned against fairytale promises - wants low taxes but won't be "irresponsible with our nation's finances". She tells the BBC other candidates should explain how their "huge" tax cuts won't cause higher inflation.

On that campaign video: She brushed off suggestions that Sunak had been preparing for this moment for a long time, saying he had devised the furlough scheme in a matter of weeks: "It is unsurprising he could do a video in a matter of days."

On Sunak's popularity: Asked whether the party members will go for someone who towards the centre-left of the party, she says Sunak’s a Brexiteer and cites polling, external which suggested he’s the only candidate who the public would vote for above Labour leader Sir Keir Starmer.

On the Rwanda policy: She says she understands he, like other candidates, backs the policy.

The race to replace Boris Johnson as prime minister and Conservative Party leader is on.

So far, 11 candidates are in the running: Liz Truss, Kemi Badenoch, Penny Mordaunt, Rehman Chishti, Sajid Javid, Jeremy Hunt, Grant Shapps, Nadhim Zahawi, Suella Braverman, Tom Tugendhat, and Rishi Sunak.

Sunak has led the field since launching his bid, according to bookmakers, and that remains the case today.

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There's a bit more from Boris Johnson's first public appearance since he resigned as Conservative leader.

Asked who he was supporting to replace him, the outgoing PM refused to give an answer.

"I wouldn't want to damage anybody's chances by offering my support," he told reporters.

During his televised statement last week, Johnson admitted he'd tried - and failed - to convince his ministers to stay on side in the days leading up to his resignation. He also accused Tory MPs who forced him out of "herd" mentality.

Helen Catt
Political correspondent

Image source, Reuters

A new 1922 executive will be elected this afternoon and then they will decide the rules of the leadership contest.

The key thing is the number of MPs needed to get their name on the ballot.

We understand Priti Patel is still weighing up a bid - so we could enter this race with 12 candidates. It may mean the bar for the number of MPs will be set really high.

There will then be a series of run-offs. The one who comes last each time gets written off.

The aim is by next week - when Parliament breaks for summer recess - to have two candidates left who will then canvas the Tory membership.

We are at the very early stages of the contest and tax has emerged as a major battleground.

After all taxes are a big issue in the Tory Party.

The prize is big - it is to be prime minister of the country so they will try to take out their opponents

But the electorate is watching.

Almost instantly there will be pressure to call a general election - as soon as they are in post.

Image source, Getty Images

In his first public appearance since resigning as Conservative leader, Boris Johnson says he's "determined" to deliver the mandate he was elected on in 2019 during his final few weeks as PM.

He also claims the British public are happier the less "politics in Westminster" is being discussed.

"I'm determined to get on and deliver the mandate that was given to us, but my job is really just to oversee the process in the next few weeks, and I'm sure that the outcome will be good," he told reporters during a visit to the Francis Crick Institute in London.

The list of people hoping to replace the PM currently stands at 11, but is expected to grow.

Away from the Tory leadership race, Labour leader Keir Starmer is in Gateshead and has been setting out his vision for a Labour government.

Starmer promises to fight the next election on economic growth, saying Labour will build a strong, secure and inclusive economy.

Turning to the Tory leadership race - which he calls a "chaotic circus" - he says he can't believe what he's hearing from candidates.

"The arms race of fantasy economics is well under way," he continues, saying candidates have not explained how they'd fund their policy plans.

A bit more from Charles Walker who has told BBC News he is backing Penny Mordaunt.

The Broxbourne MP says it is unlikely there will be any dropouts once it gets to the final two - similar to the 2016 race between Theresa May and Andrea Leadsom.

He also doubts there will be a series of hustings, as he feels it will have to have the backing of both candidates and the chair of the 1922 Committee - Sir Graham Brady.

Walker adds he doesn't expect a snap general election to be called once the new leader and prime minister is confirmed.

He says: "Gordon Brown and John Major went to term, you may want to get your mandate but you tend to change leaders when the party is in great turmoul.

"I don't think a general election is going to happen."

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The former chair of the 1922 Committee, Charles Walker, says he expects this leadership contest to have a much higher threshold than the 2019 race.

He tells BBC News: "When we had this in 2019, we set the threshold at 17 supporters to go through, then second round was 33.

"So I suspect you'll see a more aggressive threshold to thin the field.

"If the first round is on Wednesday, it gives us six days until the House of Commons rises on 21 July.

"So it is possible it can be done."

Some more detail about the expected process from the joint-executive secretary of the 1922 Committee of Tory backbenchers - Bob Blackman.

He said the leadership candidates will be whittled down to the final two by next Thursday.

Blackman told Sky News: "The one thing that we're committed to do is to achieve getting to two candidates by Thursday 21 July.

"That means that we'll hold a succession of ballots over the next few days in order to get to that position."

Ballots are likely to be held this Wednesday and Thursday and next Tuesday and Wednesday, he said.

Blackman also said the newly-elected 1922 Committee is due to meet at around 17:00 BST on Monday to agree the process and timetable for the parliamentary side of the leadership contest.

The Conservative Party board will meet to determine the timetable and process for the postal ballot of members.

Image source, PA Media

Tory MP for Harrow East Bob Blackman, who is joint-executive secretary of the 1922 Committee, has said the threshold for support to enter the first round of the Conservative Party leadership race is likely to be 20, with potentially as many as 36 MPs needed in support to progress to round two.

He told Sky News: "The view is that candidates to get on the ballot paper should demonstrate a broad swathe of support amongst Conservative MPs.

"So we're looking at a proposer, a seconder and either 18 supporters or possibly more supporters in order to reduce that list.

He then says the "first ballot is likely to have a threshold of 10% of the votes, i.e. 36 MPs, supporting a candidate for them to go through to the second ballot. That once again is not confirmed yet, but I suspect that will be the case.

"After that we probably won't need thresholds because the list will shorten considerably."

Blackman also said it is a "condition of nomination" for candidates to agree that they will contest the final postal ballot of party members if they reach the last two, to avoid a situation as in 2016, when Theresa May became prime minister after her final rival, Andrea Leadsom, dropped out.

More Conservative ministers are speaking out on the leadership race - some even making their loyalties clear...

Business Secretary Kwasi Kwarteng, in a show of support for Liz Truss, earlier reminded BBC Radio 4's Today listeners that the Foreign Secretary always opposed the controversial National Insurance tax hike. "That was reported at the time", he says.

Asked if voters will see through lots of tax-cutting promises - made by MPs who belong to a party that has overseen hikes in the first place - Kwarteng admits this is "entirely reasonable".

However, repeatedly asked what cuts he would impose to further the UK's growth, Kwarteng refuses to answer and says leadership contenders will "spell that out more broadly".

Pushed, he says only: "As a principle, you cannot tax yourself to prosperity. That's never worked."

We’ve now heard from former housing secretary Robert Jenrick, who is backing Rishi Sunak’s leadership bid.

Jenrick says the tax-cutting plans announced by rival leadership candidates will lead to significant additional borrowing or reductions in public spending.

He says Sunak plans to "manage the economy responsibly" by bearing down on inflation and cutting taxes "as quickly as we sensibly can".

He says the public is “crying out” for the Conservative Party to “demonstrate seriousness of purpose, professionalism, and a clear plan for the economy”.

Asked about whether Sunak should have kept his US green card while an MP, Jenrick says the former chancellor "cares deeply" about the UK, adding that he hopes the leadership contest "doesn't get into things like that".

He adds: "What the public care about now is who has the ability to be prime minister in six weeks time".

Image source, EPA

Over the last 48 hours we've had 11 MPs set out their stalls to succeed Boris Johnson as Conservative Party leader - here's a short recap of how the Tories will ultimately choose the next prime minister.

• The timetable for the Tory leadership race is due to be confirmed later today
• Under current rules, those putting themselves forward must initially have the backing of eight Tory MPs

• Tory MPs keep holding a series of votes until just two candidates remain
• The next stage is a wider postal ballot of the wider Conservative Party membership - around 100,000 people
• The winner of the two becomes the new Tory leader and prime minister

Foreign Secretary Liz Truss has become the latest candidate to release a glossy campaign video.

Standing in front of a leafy backdrop, she says she's got a "clear vision for the future" and can hit the ground running from day one.

To ensure the Conservatives win the next election, she says "we need to deliver, deliver and deliver for the British people".

Speaking over shots of her representing the UK during various foreign trips, she says she's committed to low taxes, "a firm grip on spending" and driving growth in the economy.

"I love our country. I want the best for us all," she concludes.

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Image source, Reuters

Chancellor Nadhim Zahawi has again said he is being "smeared" over his finances, after newspapers reported that the authorities were looking into his tax affairs.

In an interview with Sky News, the Conservative leadership candidate pledges to publish his returns annually if he becomes prime minister and says he has "never used an offshore company to avoid tax".

He says: "I was told that the Serious Fraud Office, the National Crime Agency, HMRC, were looking into me."

"I'm not aware of this. I've always declared my taxes - I've paid my taxes in the UK."

He says if he were prime minister, he would publish his tax accounts annually.

Pressed by Sky's Beth Rigby, external as to whether he would publish backdated accounts, he says he will "look at what the options are", but adds: "I don't think being retrospective is right".

Nick Eardley
Political correspondent

Politics moves on quickly. Listen over the next few days as cabinet ministers distance themselves from the tax plans of the government they were part of.

The central debate so far has been how quickly tax cuts can be made. The frontrunner, Rishi Sunak, thinks it can’t be until the economy is in a better place. He has warned against "fairytales".

Some of his rivals think tax cuts can come immediately - Liz Truss has promised them from day one.

But another key question is going to be what compromises the candidates are prepared to make on spending if they cut taxes.

They aren't as keen to spell them out just yet.

There's a bit more from Jeremy Hunt now.

Asked about his "human experience" - the fact he potentially represents a particular generation of Conservatives, having gone to Charterhouse School and to Oxford University, and how he hopes to win votes from people with different background – the former health secretary says he's aware that political leaders need to have a broad appeal.

"That's why, as Tony Blair had John Prescott as his deputy prime minister, I'll have Esther McVey as mine," he tells BBC Breakfast, saying they'll be a formidable team.

"She's someone who's won tough seats against Labour in the north, in the same way I've won tough seats against the Lib Dems in the south."

On to the cost of living crisis, Hunt says there's light at the end of the tunnel and insists he'll do more to help suffering families. "People want to see that there's a plan for the future," he says, suggesting he will deliver that in the next few days as part of the leadership race.

He finishes by telling viewers he's a "straight-talking" politician who puts "social justice" at the centre of his work.

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The increasing number of candidates entering the Conservative leadership contest leads most of the papers.

With 11 contenders so far - and possibly more to come - the Financial Times says senior Tories are "plotting to rapidly thin out the field", external. The threshold to make it on to the ballot paper will be decided at a meeting of the 1922 committee of Conservative backbenchers, with the paper suggesting that the support of as many as 36 MPs could be required.

The Guardian thinks the figure will be 25, external.

The i reports that the former chancellor, Rishi Sunak, is the favourite to win the contest, but claims Tory MPs on the right of the party are seeking to block him, external.

The Times says Boris Johnson's allies are considering which contender is best placed to beat Mr Sunak, external, before deciding who to back.

See today's newspaper headlines here.

Asked about the current Chancellor Nadhim Zahawi's claims he'd like to impose 20% cuts on every government department to pay for his planned tax cuts, Jeremy Hunt says it's "always possible" to make efficiencies in government.

But, he goes on, the "fundamental thing is, how do we move ourselves from becoming one of the higher taxed economies for business - making it harder for businesses to get off the ground - to one which people say, 'If you're going to set up a business, it has to be in Britain.'"

Asked if he can guarantee he won't borrow more money to enforce any changes, he says it's right to cut taxes without loading up on debt. To do the latter, he says, isn't Conservative.

Former health secretary Jeremy Hunt, another Tory leadership contender, is up now on BBC Breakfast.

He begins by saying the two biggest challenges the UK faces right now are the war in Ukraine and a potential recession, and claims his business-led background and experience as a foreign secretary (2018 to 2019) means he's the right person for the role.

"I've got more experience as a cabinet minister than any of the other candidates," he says.