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The Rt Hon Elizabeth Truss MP has just been announced as the next leader of the governing Conservative Party and the next prime minister.

Tomorrow the appointment of the new prime minister will take place at Balmoral Castle in Scotland, where Queen Elizabeth spends her summers, rather than at Buckingham Palace in London.

Johnson is first expected to make a statement outside Downing Street early on Tuesday morning before travelling to Scotland to tender his resignation to the queen, expected at around midday.

Liz Truss will then meet with the queen and be asked to form a government. Truss will then fly back to London to deliver a speech outside Downing Street, expected at around 4 p.m. (1500 GMT).

The new prime minister will then appoint a cabinet. The new team of ministers will meet early on Wednesday before the prime minister arrives in the House of Commons chamber at noon (1100 GMT) for their first head-to-head Prime Minister's Question Time with the leader of the opposition Labour Party, Keir Starmer.

For more information and to learn how the priorities of the new PM will affect business,  register now for the webinar