Tonight's hustings will give Tory Party members a chance to ask the finalists about their tax plans, as well as their plans to tackle the cost of living, energy costs, Brexit, and much more.

It's a crucial stage of the leadership contest as it'll help members decide which candidate they want to vote for to become the next party leader and PM.

To be able to vote, members must have joined the party on or before 3 June.

In terms of timings, ballot papers started arriving today, voting will close on 2 September and the new prime minister will be announced on 5 September.

Read more here.

Image source, PA Media

Rishi Sunak and Liz Truss are preparing to take part in a hustings event in Exeter this evening to persuade party members to vote for them.

Here's what to expect:

• It's the second of 12 official husting sessions, with the finalists setting out their stalls and answering questions from party members - who will soon be voting for their new leader
• Tonight, they're in Exeter in Devon
• It all kicks off at 7pm and you'll be available to watch the event here, external
• Truss and Sunak are likely to be quizzed on topics such as tax, Brexit, immigration and energy costs
• Ahead of tonight's event, Sunak has said he will cut the basic rate of income tax from 20% to 16% by the end of the next parliament if he becomes prime minister
• Truss remains the bookies' favourite in the race
• Conservative Party members have started to receive their ballot papers to vote in the leadership contest

Welcome to our live politics coverage as we get ready for the second official Conservative leadership hustings of the campaign.

From 7pm, Liz Truss and Rishi Sunak will be in Exeter taking questions from party members, who will soon be casting their votes.

Stay with us for full coverage of the event.