Image source, Reuters

Truss says the UK has faced difficult times and if she was elected prime minister she would be bold and do things differently.

She says she has a bold plan for growth and to make the most of the opportunities from Brexit, and says she wants EU laws off the statute by the end of next year.

She plans to cut taxes and says the government was wrong to raise national insurance.

Liz Truss talks about growing up in Leeds and how she believes children were let down by the local council.

She says the council cared more about "political correctness" than focusing on making sure children had a good education.

"That waste of talent was wrong and that's why I'm in politics," she says.

"I want everybody to have opportunity... I want us to be an aspiration nation."

David Wallace Lockhart
BBC political correspondent

At every hustings, a supporter of each candidate gives a speech. They’re both producing big names at this final event.

It’s been former Tory leader Iain Duncan Smith for Liz Truss. He’s asked for a “pledge” for party unity after the contest ends.

He insists she’s best placed to steer the country away from recession, win the next election, and he compares her “steel” to that of Margaret Thatcher.

He won’t be the only party "big beast" speaking, we’re hearing Michael Gove is up for Rishi Sunak.

Liz Truss takes the stage now.

She pays tributes to the Lionesses - the England women's football team - who won the Euros at Wembley last month.

She says she wants to win, and for the United Kingdom to have the same spirit they have shown.

We're hearing from supporters of each of the candidates before host, LBC's Nick Ferrari, asks each of the candidates questions.

First up is MP and former Tory leader Iain Duncan Smith, who is introducing Liz Truss.

He calls for unity in the party.

Rishi Sunak and Liz Truss are being introduced to some 6,000 Tory members at Wembley Arena by Peter Booth, chairman of the party's National Convention.

He urges those in the crowd to ask searching questions and make them succinct, and be respectful and keep their questions positive.

We're now getting a video reminder of what's happened at previous events.

Stay tuned as we bring you updates.

David Wallace Lockhart
BBC political correspondent

The broadcaster and former Tory MP Gyles Brandreth's warm-up is somewhere between a comedy set and a political rallying cry for the Conservative Party.

Some light relief before things get a bit more serious.

Broadcaster Gyles Brandreth - who has a broken arm in a sling - has just been speaking to the crowd in a warm-up address, cracking jokes about his age and canvassing experiences - as well as praising the candidates and Conservative volunteers.

Image source, Getty Images

Tonight’s hustings is an important part of the contest because it is Truss and Sunak’s final opportunity to win the votes of Conservative party members.

They vote in the second stage of the leadership contest. The first saw Conservative MPs hold a series of votes - whittlng down a list of eight candidates to the final two.

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

They can vote by post, or online. It's not clear how many members there are, but about 160,000 people were eligible to vote during the last Tory leadership election in 2019 and the party says number has since grown.

Voting closes at 5pm on Friday and the winner will be announced on Monday 5 September.

Read more: Tory leadership: How will the new party leader and PM be chosen?

Rishi Sunak and Liz Truss have been travelling up and down the country to try and win the vote of Conservative party members to become the next leader of the party - and UK prime minister.

Tonight, the leadership hopefuls will battle it out for Tory party member votes for the last time at a hustings session in London.

The BBC met Conservative members in Norwich - at one of the last campaign events - to hear about what issues matter most to them - and who has won their vote.

David Wallace Lockhart
BBC political correspondent

Wembley arena is more used to hosting comedians and bands, but tonight’s headliners are Liz Truss and Rishi Sunak.

There’s a big police presence and security is tight. The next prime minister is here, after all.

About 6,000 Tory members are expected - this final hustings is on a bigger scale than any of the others in this contest.

The entrance foyer is buzzing - campaigners are mingling and members are spending their hard-earned cash on Tory Party merchandise. It’s not entirely dissimilar to any other Wembley Arena event. Though perhaps there’s more attendees in suits and ties.

Rishi Sunak just arrived to greet his supporters, prompting loud cheers and chants of his name.

The candidates will take to the stage at the centre of the arena shortly after things kick off at 19:00.

We’re told Truss and Sunak will appear together tonight - the first time they’ve done so at a hustings event.

But only one of them can go to No 10 next week.

Image source, Reuters

Age: 47

Place of birth: Oxford

Home: London and Norfolk

Education: Roundhay School in Leeds, Oxford University

Family: Married to accountant Hugh O'Leary with two teenage daughters

Parliamentary constituency: South West Norfolk

Read more: Who is Liz Truss? Profile of would-be PM

Image source, Getty Images

Age: 42

Place of birth: Southampton

Home: London and Yorkshire

Education: Winchester College, Oxford University, Stanford University

Family: Married to businesswoman Akshata Murty with two daughters

Parliamentary constituency: Richmond (Yorkshire)

Read more: Rishi Sunak: Former chancellor bidding for top job

People are starting to make their way inside for the final leadership hustings at London's Wembley Arena.

The event is due to kick off at 7pm. Our correspondents are there and poised to bring us the latest.

Image source, PA Media

The cost-of-living crisis is likely to be high on the agenda at this final leadership hustings but bookies' favourite Liz Truss is under particular pressure to spell out her plans in detail - especially after cancelling her BBC TV interview with Nick Robinson scheduled for last night.

Truss has said she’ll "put money in people's pockets" by reversing the National Insurance rise and moving the cost of "green levies" from energy bills to general taxation.

But she has been less specific about any additional help above and beyond what the government has already announced for the autumn.

We know more about the plans of her leadership rival Rishi Sunak.

The official line from her campaign is Truss has ruled nothing out and will consider the options only if and when she gets to No 10.

But if she does become the new PM, she will have to announce her cost-of-living measures before the party conference season gets under way at the end of September.

You can read more from our Political Correspondent Iain Watson here.

David Wallace Lockhart
Reporting from Wembley Arena

This is the final of 12 hustings events where the candidates have faced questions from party members.

Both Rishi Sunak and Liz Truss have settled into their groove - the same anecdotes are getting deployed, the same soundbites are getting an airing.

There have been a few memorable contributions in this campaign. Such as Liz Truss saying the jury was “out” on whether or not Emmanuel Macron was a friend or a foe. Or Rishi Sunak boasting that as Chancellor he moved money away from “deprived urban areas”.

But overall, this contest - and its multiple hustings events - probably won’t be remembered for having any particularly spectacular moments.

It’s likely to be remembered for being quite drawn out, and taking place while the public became more and more worried about the cost of living.

But who knows, maybe there’ll be something tonight that changes that?

Welcome to our live coverage of the final hustings session of the Tory leadership contest.

From 7pm, Rishi Sunak and Liz Truss will be adressing Conservative members and taking questions in Wembley Arena in London, as they make their final pitches to become the next party leader and prime minister.

Tonight’s hustings mark a crucial stage of the leadership contest as the deadline for party members to cast their vote is 5pm on Friday. The winner will be announced on Monday 5 September.

Stay with us as we bring you the latest updates.