Liz Truss will be the new UK prime minister after defeating Rishi Sunak in the Tory leadership contest
Priti Patel resigns as home secretary, with Attorney General Suella Braverman tipped to replace her
It was a closer result than some analysts predicted, with Truss taking 57% of valid votes cast
She has pledged to "deliver" on the energy crisis and is understood to be considering a freeze on energy bills
Business Secretary Kwasi Kwarteng is expected to become chancellor, and Education Secretary James Cleverly foreign secretary
Truss will become prime minister on Tuesday after travelling to meet the Queen at Balmoral in Scotland
Labour's Keir Starmer has congratulated her but says the country is facing a "Tory cost of living crisis"
You can watch live BBC News coverage now by clicking at the top of the page
Liz Truss elected as new Tory leader
It’s official. Liz Truss has won the Conservative Party leadership race.
Tomorrow she will become prime minister when she visits the Queen in Balmoral for an invitation to form her UK government.
Sir Graham Brady has taken to the stage to announce the winner.
Conservative Party co-chair Andy Stephenson has taken the stage, ahead of the result in a few minutes time.
He is congratulating the party and candidates on a successful leadership race, including the multiple hustings where candidates made their pitch to the membership this summer.
Stephenson thanks members for taking on the "solemn duty" of electing a new PM and getting out the party's message across the UK.
In the next few moments we will hear who has won the Conservative Party leadership race.
Sir Graham Brady is set to make the announcement just after 12:30 BST.
Stay with us as we bring you the latest.
Ione Wells
Reporting from QEII Centre, London
Taking front row seats here include some of the people expected to be in Liz Truss's future cabinet if she is announced the winner.
Kwasi Kwarteng, expected to be the next chancellor, and James Cleverley, expected to be the next foreign secretary. But there’s some mingling between the two camps too.
The current chancellor and Truss-backer Nadhim Zahawi is sat next to, and laughing with, the current deputy PM Dominic Raab.
He's a prominent Sunak supporter and it’s not currently expected he’ll have a job in the cabinet by tomorrow.
Nick Eardley
Chief political correspondent
The new prime minister will have a lot in their in-tray. Much of it will be daunting. But one issue will dominate their early weeks in power: the cost of living.
Over the summer, the Treasury has been drawing up a raft of options for the new prime minister to choose from. Tomorrow, the new prime minister will have big choices to make - including whether to opt for a hugely expensive freeze on energy bills
If as expected Liz Truss is the new occupant of Number Ten, she will set out her plans later this week, probably Thursday. She will have around 48 hours from entering Downing Street to telling the country what she plans to do to help with the soaring cost of energy.
All prime ministers face challenges when they take office. But most have a few weeks or months to confront them. The UK’s next prime minister will not have that luxury.
Ione Wells
Reporting from QEII Centre, London
It's been a while since we've heard from Sir Graham Brady - chair of the 1922 Committee that run party leadership contests.
He's gearing up in front of the stage to announce the results.
It feels like a long time ago we were hearing from him every day, announcing those MP results in the early rounds of this contest. Ending the summer holiday as it began!
It's all happening now. Our political editor Chris Mason is there, admiring the seating plan.
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Ione Wells
Reporting from QEII Centre, London
Tory MPs are taking their seats at the conference hall here.
Liz Truss’s side seem very chipper - with MPs like Brandon Lewis and Michael Fabricant near the front.
Sources in her campaign team are already looking to the week ahead, talking about their mix of nerves and excitement.
Meanwhile, Rishi Sunak’s team remain positive about fighting their campaign - but you can’t find any of them expecting that this will go their way.
Image source, PoolLiz Truss has arrived at the Queen Elizabeth II centre in Westminster, ahead of her expected victory in the Tory leadership contest.
Image source, PA MediaMan of the moment Sir Graham Brady has arrived at the Queen Elizabeth II Centre in Westminster.
In around 30 minutes he will make announce who has won the Tory leadership contest.
Stay with us as we bring you the result as soon as it comes in.
Ione Wells
Reporting from QEII Centre, London
The question of how the parliamentary party comes together again after today’s results is already being brought up by some MPs today.
If Liz Truss wins, as expected, there is concern among some of the more centrist ‘One Nation’ Conservatives that, in the words of one, "all the sweeties are going to go to the right-wingers" - a reference to the cabinet reshuffle expected to start tomorrow.
The hostility between the two camps has been notable throughout the campaign, with one MP who backed a candidate that was eliminated initially saying they ended up not voting at all.
Image source, PA MediaThe leadership outcome is imminent and Conservative Party MPs have started to arrive at the Queen Elizabeth II Centre in central London where the announcement will be made.
Former Conservative Party chairman Oliver Dowden - who quit the role in June following two by-election defeats - has been spotted, along with former leadership hopeful Penny Mordaunt.
Mordaunt gave her backing to Liz Truss after finishing third in the Tory leadership contest behind her and Sunak.
Image source, PA Media
Kevin Peachey
Personal finance correspondent
A plan to freeze energy bills for households is striking in its simplicity for those facing a tough winter - until you start considering how it can be funded and other details.
It is likely to ultimately cost billions of pounds which may need to be paid back either through you paying extra on bills for the next decade.
Other options include through taxation if the government picks up the tab or through extra borrowing.
They would seem to be main options especially given Liz Truss has been clear that she is not keen on a windfall tax on energy companies' profits.
Remember, the price cap only covers domestic bills in England, Wales, and Scotland.
Will there be anything similar for billpayers in Northern Ireland who have also seen the cost of heating and lighting their homes rise?
What about small businesses, who are also seeing bills surge?
We should not expect answers yet. We should wait for a policy announcement first.
Image source, Getty ImagesA freeze on energy bills is one of a number of options for tackling the soaring cost of gas and electricity due to be presented to the new prime minister this week.
BBC News has been told a menu of options has been worked up in Whitehall to help struggling households.
Energy industry sources are optimistic the government will back a plan to freeze the energy price cap.
Liz Truss is widely tipped to win the contest - we'll find out in about 45 minutes time...
We've been reporting that Liz Truss looks set to beat Rishi Sunak this afternoon.
Obviously it could be the other way around, but the confidence in Westminster and beyond is such that the bookmakers' put the chance of Sunak winning at just 2%.
Here's a chart showing the odds of each become PM through the course of this contest so far.
Image source, .Ione Wells
Political Correspondent, BBC News
After months of infighting, uniting the Conservative Party is the main political challenge. And party unity will face an early test: the privileges committee investigation into whether Boris Johnson misled MPs over Downing Street parties.
If the committee of MPs recommends a punishment for Johnson, MPs will need to vote on it.
The prime minister will have to decide whether to let Tories vote how they want, or whether to instruct them to vote a certain way.
Whipping them to vote for a sanction could anger those who support Boris Johnson, but the opposite approach risks accusations of trying to cover up wrongdoing.
Image source, PA MediaThe media gather outside 10 Downing Street ahead of the announcement
After weeks of battling it out among Tory membership voters we are now just over an hour away from finding out whether Liz Truss or Rishi Sunak will succeed Boris Johnson as Party leader.
We expect Sir Graham Brady to make the announcement just after 12:30 BST.
Stay with us as we bring you the outcome.
The world will be watching who Britain's next prime minister will be - but the Kremlin has already indicated it doesn't expect a change in UK-Russia relations regardless of who's chosen.
At a daily call with journalists earlier today, spokesman Dmitry Peskov told the BBC that "one can hardly hope for something positive" in the relationship between the two nations.
"I am not expecting any change [in UK-Russia relations] in the foreseeable future," he said.
"I wouldn’t like to say there could be change for the worse, as I can’t imagine anything worse than now, but unfortunately this cannot be ruled out, since the candidates in the race for PM were competing in their level of anti-Russian rhetoric, and in their threats to take further actions against our country etc...I don’t think we can hope for anything positive."
And when asked if President Vladimir Putin will congratulate the winner, Peskov said: "Let’s wait and see who becomes PM."
Jessica Parker
Reporting from Brussels
In the EU, they've got other things on their mind. Specifically, energy. Both the supply of it and the price of it.
But officials will have an eye on who the next prime minister will be, not least of all because of unfinished post-Brexit business.
There's the dispute over trading arrangements for Northern Ireland, under a treaty known as the Protocol.
Consequentially, there's been a block on UK access to a multi-billion European science programme.
Frontrunner Liz Truss would not have been the European Commission’s top pick to succeed Boris Johnson. Many here believe that the foreign secretary has pursued a hard-line approach on the Protocol, in order to woo the Tory right.
Team Truss blamed EU intransigence for a lack of progress. But a key watch is whether a Truss government does signal a willingness to re-open discussions.
If not, under the current trajectory, the dispute could escalate with warnings of an eventual 'trade war'.