Rishi Sunak is set to be appointed Britain's 57th Prime Minister later today after he attends a meeting with King Charles at Buckingham Palace.
The new Conservative leader will take over from Liz Truss in Downing Street after he was the only candidate to get the support of 100 Tory MPs in the Commons.
The handover of power will see Truss, who quit last week after only six weeks in the top job, hold her final Cabinet meeting and give a farewell speech in Downing Street before formally tendering her resignation to Charles at Buckingham Palace.
Once she has left, it will be Sunak's turn to see the King, who will ask him to form an administration.
After addressing the nation Sunak will appoint his new Cabinet. While his team was remaining tight-lipped about the possible make-up of the team, his long-time backers Dominic Raab, the former justice secretary, Commons Treasury Committee chair Mel Stride and ex-chief whip Mark Harper were tipped to be in it.
Chancellor Jeremy Hunt, who was brought in to steady Truss's ailing Government and has been working towards a highly-anticipated Halloween fiscal statement, is widely expected to keep the keys to No 11 to try to stabilise the jittery markets.
Penny Mordaunt, who bowed out of the race to hand Sunak a spectacular political comeback as she failed to get the 100 nominations from Tory MPs, is expected to get some kind of promotion - with some speculating that she could replace Cleverly as foreign secretary.
Sunak ruled out an early general election demanded by opposition parties as the Tories move onto their third prime minister on the mandate won by Johnson in 2019.
Here's all you need to know about today:
When will Liz Truss leave No10?
Liz Truss will hold her final Cabinet in Downing Street as Prime Minister at around 9am today before she give a statement outside No 10 at 10.15am.
After her speech she will make the small trip down the Mall to meet King Charles at Buckingham Palace to officially resign as the 56th Prime Minister of Britain.
When will Rishi Sunak speak today?
Rishi Sunak is expected to address the nation just before noon, before entering No 10 as the UK's first Hindu prime minister, the first of Asian heritage, and the youngest for more than 200 years at the age of 42.
After his audience with the King at Buckingham Palace Sunak will then travel back down the Mall to Downing Street give a speech at around 11.35am.
The former chancellor will then turn his attention to assembling a top team that he will hope can return a measure of stability to both the Conservatives and the country.
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