Mark Drakeford is set to be the new first minister of Wales.

He needed two rounds of voting to secure the win after falling short of the 50% mark in the first round.

The first round results were:

Mark Drakeford - 46.9%

Vaughan Gething - 30.8%

Eluned Morgan - 22.3%

After Eluned Morgan was eliminated, second preferences came into play, with Mr Drakeford ultimately securing 53.9% of the final vote, ahead of Mr Gething's 41.4%

Carwyn Jones says he wants the party’s policies to add up to “a single message of hope for a better tomorrow”.

He paid tribute to the three candidates and says they are "a credit to our membership".

Outgoing First Minister Carwyn Jones says his only job today is to say one thing: "Thank you for the last nine years."

Welsh Labour leadership voters get two votes.

If no candidate gets more than 50%, it goes to another round where the second preference votes from people who backed the last placed candidate are redistributed.

Could this happen this afternoon?

This contest began in April after Carwyn Jones told the Welsh Labour spring conference he would stand down by the end of the year.

Mr Jones was widely expected to quit after about 10 years - which would have been next year - but the events around the death of his Labour colleague Carl Sargeant hastened the end of his service.

The first minister sacked the community secretary from his cabinet in November 2017 after allegations about his behaviour around women came to light.

Days later Mr Sargeant was found dead. Under pressure from politicians both within and outside of Labour, Mr Jones launched a series of inquiries.

The next FM will face the task of reuniting a party splintered by the events of the past 12 months.

Image source, Rhondda Cynon Taff council

BBC Wales is hearing the three Labour candidates are being told the result.

One of the first ports of call will be deciding whether to build the M4 relief road around Newport.

Mr Drakeford is considered to be sceptical of the bypass, while Mr Gething and Ms Morgan are thought to be more open to the proposed route.

The new FM will also have new income tax powers.

And among all of that, there's still Brexit to deal with...

With months of campaigning coming to an end, we expect a result at about 14:45.

The venue is the Principality Stadium in Cardiff.

Everyone has a boss and like everyone else who quits their job, Carwyn Jones has to let them know.

In his case, he will email the Queen his resignation on Tuesday and it comes into effect whenever the palace replies.

We don't know how long it will take Her Majesty to check her emails and respond.

Image source, Getty Images

About 175,000 people - 25,000 party members and 150,000 members of affiliated groups including trade unions - were eligible to take part in poll, which closed last Monday.

The winner will be leader-elect until Carwyn Jones resigns and will become the first minister after confirmation by the assembly on Wednesday.

Mark Drakeford is the overwhelming favourite, with bookmakers Betway rating him at 1/4 to succeed Carwyn Jones.

Vaughan Gething is 3/1, while Eluned Morgan is the rank outsider at 10/1.

But recent votes - including the EU Referendum and the 2017 General Election - have defied bookmakers.

Will we see another surprise today?

It would be a big shock if Eluned Morgan won.

She only squeaked onto the ballot after a row about a lack of a woman candidate. First Minister Carwyn Jones went back on a pledge to not support a candidate in order to make it happen.

Ms Morgan was one of a cohort of new Labour AMs in 2016. She made a name for herself in 1999 when she became the youngest MEP at the age of 27.

She was later given a life peerage and has represented Labour on the frontbenches. In the Welsh Government she is a junior minister - responsible for Welsh language and further education policy.

During the campaign Ms Morgan has tried to place herself on the left, saying she is like contender Mark Drakeford, but she is happy to work with business and has vowed to boost the economy.

Aged 44, Mr Gething is the youngest candidate in the Welsh Labour leadership race.

He has the second largest group of endorsements from AMs. If he wins he will be the first elected leader of African descent of any country in Europe.

Born to a Zambian mother and a white Welsh father, the Cardiff South and Penarth AM has tackled the subject of his heritage head-on, and has talked about the racism he has experienced.

Less likely to see eye-to-eye with UK Labour Jeremy Corbyn than Mark Drakeford, the health secretary has been tipped for the job of first minister for years.

Mr Gething became an AM at the May 2011 elections and served in the backbenches until he became a deputy minister for health three years later.

He has been willing to launch attacks on front-runner Mark Drakeford, accusing his tone on Brexit of being "awful" and being "reckless" in his skeptical stance on nuclear power.

Image source, Getty Images

The front-runner from the beginning, Mark Drakeford has been a key figure in the Welsh Government stretching back to the Rhodri Morgan era.

But despite this, the Cardiff West AM has said he had no "personal ambition" for the job.

While happy to be identified with the UK Labour leader, he does not come from the same tradition as him. He has come to be seen as a pragmatist in government, albeit from the left.

Aged 64, the politician grew up in Carmarthen. Mr Drakeford's grandparents were farmers, while his father was a teacher.

An academic by trade before entering the assembly, he has served in two big portfolios in government - health and finance.

Image source, Getty Images

Hello, welcome to the live coverage of the Welsh Labour leadership contest. Eluned Morgan, Vaughan Gething and Mark Drakeford all hope to step into Carwyn Jones's shoes when he steps down on Tuesday.

We'll bring you the latest news and reaction, and will start off with a who's who in this race.

Image source, NATIONAL ASSEMBLY/BBC