Liz Truss and Rishi Sunak make their final pitches to become Conservative leader in front of party members at Wembley Arena in London
Truss says she will be a bold leader and create an "aspiration nation", reiterating her support for tax cuts
She says she will address “household support” for rising energy bills in a future “budget” or “fiscal event”
Sunak says he will tackle inflation "compassionately" and that it would come down quickest under his plans
He stresses the importance of integrity and says he wants to put "restoring trust" at the heart of his campaign
The two candidates face questions over the cost-of-living crisis and issues ranging from gender identity to taxation
At least 160,000 Conservative party members are voting for the next Tory leader - and UK prime minister - with the ballot closing at 17:00 BST on Friday
The UK will find out who its new prime minister will be on Monday
Image source, PA MediaThat's all from us! Thank you for joining our live coverage of the final Conservative party leadership contest hustings.
Tonight's coverage was brought to you by James Clarke, George Wright, Aoife Walsh, Heather Sharp and James Harness.
The final Conservative party hustings of the leadership campaign has come to an end, but here's a selection of pictures from the scene tonight at Wembley:
Image source, ReutersTruss's supporters opted for T-shirts and placards
Image source, PA MediaSunak was surrounded by beaming supporters ahead of the event
Image source, EPAMerchandise stalls did a brisk trade
Image source, EPASome 6,000 people attended the hustings
The cost-of-living crisis was high on the agenda this evening - but other questions ranged from gender identity and childcare, to asylum seekers and Scottish independence.
If you'd like to read about the two rivals' policy positions in more detail, have a look at our guide on issues from Brexit to education and health,
David Wallace Lockhart
BBC political correspondent
That’s a dozen hustings done and dusted. Tory members still have until 5pm on Friday to vote, but it does now feel like the contest is winding down.
We didn’t learn anything particularly new tonight. There was a hint from Liz Truss that her Chancellor would provide “household support” in the face of rising bills, and Rishi Sunak gave a “guarantee” he was best place to reduce inflation.
One of the biggest cheers of the night was when Michael Gove praised Boris Johnson. The outgoing PM still has his supporters in the Tory Party, and he will make for an interesting figure on the backbenches.
There were plenty of references to the party coming together and taking on Labour in the months ahead.
It feels like the candidates, and their supporters, know that this contest is essentially over. Attention now turns to what comes next.
It will be a very difficult period for whoever occupies Number 10. A fractured party would make governing even more awkward.
That's it - that was the final hustings to choose the next Conservative Party leader, who will also be the UK's new prime minister. So what happens next?
Friday 2 September
The ballot of party members closes at 17:00 BST.
Monday 5 September
Liz Truss or Rishi Sunak will be announced as leader of the Conservative Party by 1922 Committee Chairman Sir Graham Brady.
Tuesday 6 September
Boris Johnson is expected to announce his resignation to the Queen. Usually, the outgoing prime minister makes a statement outside Downing Street before taking their final trip as leader to meet the Queen at Buckingham Palace.
But the Palace has announced that this time the Queen will stay at Balmoral, her residence in Scotland.
The monarch will formally dismiss Johnson from his role as prime minister.
Shortly after, the incoming PM is called to see the Queen and appointed, after which the new leader then delivers a speech outside No 10.
Wednesday 7 September
The new PM is set to face his or her first grilling in the Commons as prime minister, in a head-to-head with Labour leader Sir Keir Starmer at Prime Minister's Questions.
The two rivals appeared briefly side-by-side on stage at the end of the hustings - smiling, and to much applause.
Image source, Reuters
Image source, PA MediaLiz Truss and Rishi Sunak have been making their final pitches to become Conservative leader in front of party members at Wembley Arena in London. Here's a round-up of what's been happening tonight:
Image source, EPAAnd that's a wrap! Sunak has left the stage, bringing an end to tonight's hustings.
Andrew Stephenson, Conservative co-party chairman, says it's been a fantastic contest and both candidates should be proud of how they have fought.
Both candidates are welcomed back on stage to a round of applause.
An audience member says 20 years ago she could afford to buy her own home at the age of 23, with no parental support but thanks to a "strong work ethic". She asks Rishi Sunak what the likelihood is of her 16-year-old son being able to do the same.
Sunak replies that the magical feeling of home ownership is a "incredible journey, a special journey and a Conservative journey".
He says we need to increase the supply of housing by increasing building on brownfield sides, and losing the aversion to what the UK calls "flat-pack housing" and other countries call "modular housing".
He also says the mortgage market needs to work for first-time buyers, saying he worked on that as chancellor.
Image source, EPAAnother audience member, Nigel, asks how Sunak will "suppress" SNP leader Nicola Sturgeon and the push for Scottish independence.
He says the party needs to demonstrate the benefit of a United Kingdom government in Scotland .
He says it's important have a leader who can speak to people that aren't Conservative voters.
He adds that the idea of nationalism is seductive and romantic and shouldn't be met with arguments about borrowing, pensions or currency.
"We need to have an argument that speaks to people's hearts", he adds.
Now for questions from the audience.
Rishi Sunak is asked how he will ensure his government is the beacon of integrity and ethics after his decision to leave his former role as chancellor under Boris Johnson's government.
He says it wasn't an easy decision but he felt the government was on the wrong side of an ethical issue he "couldn't defend".
Sunak adds that was why he wanted to put "restoring trust" at the heart of his campaign.
He says he would reappoint a new independent ethics advisor because he believes "that will send a strong signal".
David Wallace Lockhart
BBC political correspondent
Image source, ReutersRishi Sunak has finished his Q and A session with the event host, LBC’s Nick Ferrari.
He says he can “guarantee” inflation would come down quicker under his plans than any other candidates’. No prizes for guessing who he’s aiming that comment at…
He’s ending his campaign as it started, insisting that he’s the best man to get the economic situation under control.
But for many Tory members, Liz Truss’s promise of swift tax cuts seems like a more appealing road to go down.
Asked about asylum seekers, Rishi Sunak says we need to move away from the European definition of asylum, which he says is far too broad.
He's challenged about the policy of sending asylum seekers to Rwanda, and refuses a bet that not one person goes to Rwanda in the first six months of his government.
He also refuses to comment when asked if Priti Patel will stay home secretary.
Image source, ReutersAsked about inflation, Sunak says the UK has tightness in the labour market that other countries don't face, and finding workers is a problem.
Inflation is the biggest challenge we face and will be his number one priority, he says.
Sunak says he can guarantee it will fall far faster with his plan that with anyone else's.
Rishi Sunak: "I introduced the windfall tax, as chancellor, and I am glad that I did"
Now it's Rishi Sunak's turn to answer questions.
Nick Ferrari, referencing Sunak's interview in today's Financial Times, asks the former chancellor if he believes the markets will begin to lose confidence in the UK if Liz Truss is elected PM.
He says no, and that no chancellor should be complacent about the risks the UK is facing.
The UK has a large amount of debt that other countries don't have to the same degree, Sunak says.
He says the UK, compared with other countries, relies more on foreign investment to finance its deficits.
The government should not be constantly borrowing money "that we have no hope of paying back", Sunak says.
"That's why a credible plan is important."
Nick Ferrari ends by asking Liz Truss who she'd rather share a cocktail with on a trip to the US - Nick Clegg or Donald Trump.
"I think I’d focus on meeting President Biden," Truss says.
Andy, a British Ukrainian from West Acton, asks what measures she will take to provide multiple launch rocket systems to Ukraine.
The UK owes it to Ukraine to do all it can to support its people, she replies.
Truss says she is proud the UK was the first to send weapons to Ukraine and to train soldiers.
She says Ukrainian forces need more heavy weapons to be able to fight Russia effectively.
She says more sanctions are needed to cut off Vladimir Putin's supply of revenue.
Image source, ReutersA young woman in the crowd asks Truss how she will tackle "left-wing nonsense" in the education system.
The woman in the crowd then states that she thinks children should not be taught that a "trans woman is a woman".
Ferrari asks Truss if she believes trans women are women.
"No - a woman is a woman," the foreign secretary responds.
"I believe in treating trans people with respect - I believe that is important - but we should not confuse that with being clear in our language."
We're now on to questions from the audience and David, from London, asks Truss what she will do to help business owners suffering with the increase in energy costs.
Truss says she would run a pro-business government, keeping corporation tax low and reverse the national insurance rise.
On energy, she says the UK needs to deal with energy supply and will be looking across the board to increase supply.
She says she will be "absolutely looking to act on business energy costs".
Truss rules out energy rationing.
David Wallace Lockhart
BBC political correspondent
Liz Truss has been grilled by LBC presenter Nick Ferrari. She was quizzed on cost of living support, but (as in the other hustings) we still don’t have a full picture of what she’ll do.
There will be tax cuts, and in a future “budget” or “fiscal event” (she uses both terms) her chancellor will address “household support”.
If she’s in No 10 next week, there will be huge expectations for her to swiftly outline what she plans to do for those facing huge bills.