Live updates | Liz Truss becomes new UK PM after beating Rishi Sunak

European Commission president Ursula von der Leyen congratulated Liz Truss on becoming the new Prime Minister of United Kingdom and said that they need to work together on issues like the Northern Ireland Protocol Bill and post-Brexit arrangements.

"The EU and the UK are partners. We face many challenges together, from climate change to Russia's invasion of Ukraine. I look forward to a constructive relationship, in full respect of our agreements," von der Leyen said.

Liz Truss received 57.4% of the vote - which is considerably lower than the margin that Boris Johnson (66.4%) was able to achieve against Jeremy Hunt in the 2019 race.

Liz Truss's statement after the win according to Sky News -  "During this leadership campaign, I campaigned as a Conservative and I will govern as a conservative. And my friends, we need to show that we will deliver over the next two years. I will deliver a bold plan to cut taxes and grow our economy. I will deliver on the energy crisis, dealing with people’s energy bills, but also dealing with the long term issues we have on energy supply. And I will deliver on the National Health Service. But we all will deliver for our country. And I will make sure that we use all the fantastic talents of the Conservative party, our brilliant members of parliament and peers, our fantastic counsellors, our MSs, our MSPs, all of our councillors and activists and members right across our country. Because, my friends, I know that we will deliver, we will deliver and we will deliver. And we will deliver a great victory for the Conservative Party in 2024. Thank you."

Liz Truss: 81,326

Rishi Sunak: 60,399

Electorate: 172,437

Turnout: 82.6%

Rejected ballot papers: 654

Liz Truss is the next UK Prime Minister after defeating Rishi Sunak with 81,326 votes in the Tory leadership battle. Sunak ended up with 60,399 votes.

Party chair Andrew Stephenson is giving a speech ahead of the announcement. The results will be announcement soon.

The Conservative MPs have started arriving at the Queen Elizabeth II Centre in Westminster with just hours to go before the new UK Prime Minister will be announced.

The winner of the Conservative Party leadership race will be announced at 12:27pm GMT and the new Prime Minister will be told in private. The official announcement will be made 10 minutes later at around 12.37pm by party chair Andrew Stephenson and 1922 Committee chair Sir Graham Brady.

It has been eight weeks of multiple hustings and events. The United Kingdom will soon have a new Prime Minister today, the survey indicates foreign secretary Liz Truss is tipped to be the new PM, however, Truss' popularity slumps ahead of expected Tory appointment.

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UK cabinet: Suella Braverman likely to only Indian-origin member of parliament: Report

According to the British media, Foreign Secretary Liz Truss is on course to beat Rishi Sunak to be elected Conservative Party leader and British Prime minister on Monday.

The United Kingdom's local media has reported that Suella Braverman is likely to be the only British politician of Indian heritage in the new cabinet. 

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Britain's next prime minister will inherit an economy that is forecast to go into a long recession later this year with inflation at a 40-year high and limits on the options for getting growth going again.

Click Here to see the elaborative photo essay. 

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Speaking to BBC before the declarations of election results, Sunak said he intends to stay on as a Parliament MP if he is not elected as the British Prime Minister. 

When asked about his future plans if he loses, Sunak said, “I look forward to supporting the Conservative government in whatever capacity.”

“I'm going to stay as a member of Parliament It's been a great privilege to represent my constituents in Richmond in North Yorkshire as their member of Parliament and I'll love to keep doing that as long as they'll have me,” he added.

United Kingdom will get its new prime minister as Britain's next leader will take over at a time when the country faces its highest inflation in nearly 40 years, with energy bills soaring and warnings of a recession. 

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The day has come as the name of next British prime minister will be announced today (September 5) with Liz Truss the favourite to succeed Boris Johnson. 

The result will be unveiled at 12:30 pm (1130 GMT), after foreign minister Truss and her rival, former finance minister Rishi Sunak, spent the summer rallying support among Conservative Party members who cast the final vote.