Rishi Sunak will take over from Liz Truss as prime minister on Tuesday morning, as attention turns to who he will appoint to his new cabinet.
Truss will chair her final cabinet meeting at 9am and deliver a speech outside No.10 at 10.15am.
She will then travel to Buckingham Palace to meet the King and formally resign.
Sunak will then make his way to the Palace to d be appointed prime minister.
He is due to then make a statement on the steps of No.10 at 11.35am, before assembling his top team.
Sunak has been urged to avoid Truss’s perceived error of appointing loyalists to key roles.
He will look to build a cabinet of “all the talents” that will see the political return of the “adults”, according to reports.
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 leadership race, is expected to get some kind of promotion – with some speculating that she could replace James Cleverly as foreign secretary.
Sunak won the keys to Downing Street after Mordaunt failed to secure the support from Tory MPs needed to make it onto the ballot.
He told his party on Monday it must “unite or die” in the face of a “profound economic challenge”.
It marks a dramatic comeback for Sunak, who lost out to Truss in the previous contest.
Labour, the Lib Dems and the SNP has demanded the incoming prime minister hold a general election to secure a mandate to govern.
But Sunak told a meeting of Tory MPs behind closed doors in Westminster he would not go to the country early.
The Tory party’s poll ratings have tanked since Truss’ mini-Budget caused market chaos.
At 42, Sunak will be the youngest UK prime minister in over 200 years. He will also be the first Hindu PM.
To make it onto the ballot, Tory leadership candidates had to win the formal support of 100 MPs.
A Mordaunt campaign source said she fell just short, securing the backing of 90 MPs.
Boris Johnson, who stood down as prime minister just last month, toyed with a comeback but dramatically decided not to formally enter the contest on Sunday.
His campaign claimed 102 MPs were willing to nominate the former PM.
Angela Rayner, Labour’s deputy leader, said: “The Tories have crowned Rishi Sunak as prime minister without him saying a single word about how he would run the country and without anyone having the chance to vote.”
Lib Dem leader Ed Davey said the Conservatives had “installed another out-of-touch” prime minister, adding: “The only way to end the chaos is a general election now.”