Conservative leadership vote: what happens next and what did Liz Truss and Rishi Sunak say?

The nation is awaiting the results of the Tory leadership race after members of the Conservative Party finished voting on whether Liz Truss or Rishi Sunak will become the UK’s next Prime Minister.

The campaign battle has been going on for a lengthy five weeks, with the current Foreign Secretary and former Chancellor partaking in a series of televised leadership debates as well as hustings events across the country.

The two remaining candidates have dominated national headlines as they have clashed over their cost of living plans and proposed policies - but the battle is finally drawing to a close.

So what happens next, and when will we know the winner?

When did voting end?

Members of the Conservative Party had to cast their votes before 5pm today (2 September).

Voters received postal ballots between 1 and 5 August, and anyone wishing to vote by post should have already sent their ballots to the return address.

Online voting however, which has been implemented for the Tory leadership race, was possible until the close of the ballot.

Any vote received after 5pm on 2 September will not be counted.

When will we know the winner?

The UK’s new Prime Minister will be revealed on Monday 5 September at 12.30pm.

The result will be announced by Sir Graham Brady, the chair of the 1922 Committee, at a gathering at Westminster in front of Tory MPs and peers.

It is likely that the winner will make a short acceptance speech - which will be televised for all the nation to see.

Bookies have their bets placed on Ms Truss - but we won’t know for definite until Monday afternoon.

What happens next?

The short story is the UK will have a new Prime Minister. The long story is that a formal handover will take place the following day - 3 September - where either Ms Truss or Mr Sunak will visit the Queen to be officially appointed Prime Minister.

Queen Elizabeth II is breaking from tradition by carrying out the handover at Balmoral in Scotland.

Outgoing Prime Minister Boris Johnson is expected to make a farewell address outside 10 Downing Street at roughly 9am on 3 September.

He also will have to tenure his formal resignation to the Queen.

What have the candidates said?

In her final message on Friday Liz Truss paid tribute to the party members she had met in recent months.

She said: “It has been fantastic meeting and speaking to thousands of members across the whole of the UK over the last six weeks.

“Our members make our party great and I would like to thank all the volunteers who have helped along the way.

“I believe in a brighter and better future for Britain. I have a bold plan that will grow our economy and deliver higher wages, more security for families and world-class public services.

“I’ll do this by cutting taxes, pushing through supply-side reform and slashing red tape that is holding businesses back.

“If I am elected prime minister, I will never let anyone talk us down and I will do everything in my power to make sure our great nation succeeds.”

Mr Sunak said he was “humbled” by his engagement with the Tory membership.

In a statement, he said: “I have been humbled to meet so many thousands of our brilliant members and activists over the past six weeks.

“This is a critical election for our country and for the future of the Conservative Party, as we eye a historic fifth term in government.

“We face huge challenges ahead, but also huge opportunities. I know what it takes to get through challenging times. I did it as chancellor and I will do it again as prime minister.”