Liz Truss is appointing her new cabinet hours after becoming prime minister
Kwasi Kwarteng has been named chancellor, James Cleverly is foreign secretary and Suella Braverman is home secretary
For the first time, not a single white man will occupy one of the "great offices of state" - PM, home secretary, foreign secretary and chancellor
Therese Coffey is the new health secretary and deputy PM, Jacob Rees-Mogg becomes business secretary and Kemi Badenoch is international trade secretary
Earlier Truss said that her government would "transform Britain into an aspiration nation" and that "together we can ride out the storm"
She is under pressure to tackle spiralling energy costs - and is expected to announce a package within days
The BBC understands the annual price cap on household energy bills could be capped at around £2,500 - costing the government billions
Prime Minister Liz Truss begins by saying: "I've just accepted Her Majesty's kind invitation to form a new government.
She then pays tribute to the former PM.
"Boris Johnson delivered Brexit, the Covid vaccine and stood up to Russian aggression.
"History will see him as a hugely consequential prime minister."
She adds, "I'm honoured to take on this responsibility at a vital time for our country."
Prime Minister Liz Truss is now set to deliver her first speech to the nation as prime minister.
Her supporters applaud and cheer as she arrives.
Stick with us and we'll bring you all the key lines.
The new prime minister's convoy has just arrived at the gates of Downing St.
Ione Wells
Reporting from outside No 10
The rain is subsiding and Liz Truss's new team in No 10 is now back out on the street having rushed inside for cover.
The new PM is expected to arrive within minutes and, depending if the weather holds, give a speech right away.
Image source, PoolThe lectern - which had been taken away to keep it dry - has just been placed back into position.
Stay with us as we hope to bring you a speech from Liz Truss very shortly.
Image source, PoolThere may be a delay to Liz Truss's speech, which we were expecting imminently, as the lectern has been removed from outside Downing Street as the rain drives down.
Image source, PoolLiz Truss appears to have brought some classic Scottish weather back with her from Balmoral as the rain which was forecast seems to have started in earnest.
A bin bag has been placed over the lectern and vital recording gear, as the heavens have opened and rain pours on the assembled crowd outside Downing Street.
Nick Eardley
Political correspondent
A lot of Liz Truss's allies who are standing in the rain outside No 10 will be waiting by their phones over the next few hours because the normal choreography on these days is that we'll find out later who is going to be appointed to the most important ministerial jobs.
Those are the people who will sit around the cabinet table over the next few months and help the new PM set her agenda for the country.
As more Liz Truss supporters including Jacob Rees-Mogg gather outside No 10, there are just minutes to go until the new PM is due to speak.
But the umbrellas are going back up and a few spots of rain are around, so that may delay the start.
Image source, PoolLiz Truss's supporters are gathering outside Downing Street. Among them are Nadhim Zahawi, James Cleverly, Thérèse Coffey and Ben Wallace. We're seeing smiles and hand shakes as potential cabinet ministers gather to await Truss's arrival.
The BBC News channel (which you can watch by clicking on the "play" button at the top of this page) is broadcasting images from a helicopter showing the convoy of vehicles carrying Prime Minister Liz Truss through the streets of west London en route to Downing Street.
It's not long now until we hear from the new PM about her plans for the next couple of years and how she might tackle the cost of living crisis.
Stay with us as we cover her arrival in Downing St and her speech to the nation.
Ione Wells
Political Correspondent, BBC News
The podium is out in Downing Street.
This is a sign the new PM's speech is at least expected to now be imminent.
For those of us who are regular Westminster-watchers, these podiums have become a pretty regular sight.
But Liz Truss's is a different style to the one Boris Johnson had this morning for his departing speech.
Fresh administration, fresh podium?
Image source, PoolThe cars carrying Prime Minister Liz Truss back to Downing Street have left RAF Northolt.
We're not sure exactly when she'll speak after she returns to No 10, but stick with us and we'll bring you her speech as soon as she steps up to the lectern.
The lectern is in place outside No 10
Alison Holt
Social Affairs editor
Image source, Getty ImagesA right-leaning think tank is warning that unless the new prime minister takes drastic measures to deal with rising energy prices, an additional 2.75 million people in the UK will be pushed into poverty.
The Legatum Institute calculates, external that there will be 16.65 million people living in poverty this winter if the expected price rises go ahead.
This compares to nearly 14 million people in 2019/20, the last year when reliable statistics were available. During the pandemic, fewer statistics were gathered, but poverty levels appeared to fall slightly, partly because of a temporary £20 uplift in universal credit benefits.
The new analysis suggests if energy prices are frozen at summer price levels there will still be just over 15 million people in poverty.
The Conservative peer and chief executive of the Legatum Institute, Baroness Philippa Stroud, warns freezing prices won’t be enough on its own to help all struggling families.
“If Liz Truss wants to stabilise poverty at pre-pandemic levels, she will need to go further and introduce a 10% uprating of Universal Credit as existing inflation will still hit the poorest hardest.”
The institute has used a poverty measure which looks at a family’s income, along with inescapable costs such as childcare, housing or the extra costs of disability. It is used to calculate the number of people who don’t have enough money to meet basic needs.
WATCH: PM Liz Truss lands at RAF Northolt
The plane carrying Prime Minister Liz Truss has landed safely at RAF Northolt in west London.
She will now make the journey back to Downing Street, where we expect her to give a speech shortly after her arrival.
Faisal Islam
BBC Economics Editor
It is understood that the government is looking to cap energy bills at around £2,500 in a new plan expected to be revealed on Thursday.
The new level would be a cut of £1,000 from the expected October energy cap level, but not a freeze on current prices.
Currently, a typical household's gas and electricity bill is due to rise from £1,971 to £3,549 in October.
A government source said any move would “not necessarily mean a freeze”.
Industry calculations suggest that the planned intervention would shrink the size of fund required to support customers to around £50bn, but would presumably require even more emergency support for the most vulnerable.
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Meatballs with the Swedish PM and tea with the corgis are high on Liz Trussell's wishlist after her Twitter handle - @LizTruss - saw her receive a slew of messages intended for the incoming prime minister on Monday.
Political allies - and detractors - mistakenly tweeted Trussell on the news of her near-namesake's promotion to Conservative Party leader and ultimately PM - among them Sweden’s prime minister Magdalena Andersson, who tweeted her congratulations on the new role.
Trussell was quick to respond to this unusual case of mistaken identity, urging Sweden's leader to "get the meatballs ready" for her forthcoming visit.
Similarly, Brighton MP Caroline Lucas took to Twitter to apologise after mistakenly denouncing Trussell - not Truss - as "a rightwing ideologue" in an earlier post.
"Apologies, my previous tweet about #ToryLeadership should have been directed to @trussliz – not Liz Trussell who tweets at @Liztruss – tho frankly she’d probably make a better job of it," Lucas tweeted.
Tuesday morning saw Liz Trussell tweeting that she was getting ready to head to Balmoral and "looking forward to meeting the corgis".
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Ione Wells
Political Correspondent, BBC News
Here’s a sight you don't see that often on your TV screens.
Crowds of journalists, some from around the world, packed into Downing Street today awaiting the new prime minister.
Umbrellas are flapping up and down periodically.
Downing Street is hoping there won't be a downpour as Liz Truss is due to give her first speech as prime minister outside No 10.
Correspondents and camera crews are waiting in anticipation for her to arrive.
The sensible ones have worn trainers or brought camping chairs, for a long day on our feet.
Click on the video at the top of the page ("Watch Downing Street live") to view all the action.
Justin Rowlatt
BBC Climate editor
Image source, Getty ImagesBBC correspondents are looking at some of the biggest issues Liz Truss will have to face as PM.
Some of the new prime minister's policy pronouncements have had climate activists trembling.
Liz Truss has promised to suspend the "green levy" (an environmental charge added to energy bills), issue new licences for oil and gas in the North Sea, give fracking the green light and restrict new solar farms on agricultural land.
She’s also likely to appoint cabinet members who have been critical of Boris Johnson’s ‘net zero’ policies, including Jacob Rees-Mogg, Suella Braverman and Kemi Badenoch.
But there are also good reasons to think she’ll be cautious about making radical changes on climate.
First off, she endorsed Boris Johnson’s green policies when she signed up to the Conservative Environment Network’s leadership pledges.
Her close friend and the likely new chancellor, Kwasi Kwarteng, was the main architect of Johnson’s 10-point plan to reach net zero emissions by 2050.
There’s also broad support among voters for the decarbonisation agenda, according to opinion polls.
What’s more, Boris Johnson has warned he’s ready to defend his climate legacy and Truss knows he’s still very popular with the party grassroots.
Liz Truss must "prepare people" for the seriousness of the energy crisis and the current state of the economy, says senior Tory MP Sir Bernard Jenkin.
The chair of the Parliamentary Liaison Committee says the new prime minister must "lead honestly and positively".
Speaking on BBC Radio 4, Sir Bernard said Truss must be "positive that we can get through this - the nation's been through worse".
"We are not in sunny uplands for the short term - the war in Ukraine could go on for 10 years", he said.
The prime minister has "only got a few weeks" to prove to the public and the Conservative Party that there is a package that can "rescue businesses and households from what is absolute catastrophe otherwise".
"It's a very big deal - just fixing energy prices is not a long-term solution", he added.
Stay with us ahead of Liz Truss's arrival in Downing St as we bring you analysis from BBC correspondents about the issues facing the UK.