Live updates as Liz Truss or Rishi Sunak to be announced as UK's next Prime Minister

The UK's new prime minister will be revealed on Monday. Foreign Secretary Liz Truss is widely tipped to beat Rishi Sunak to be named the next Conservative leader.

The winner of the leadership contest will be announced at 12.30pm, before being handed the keys to Number 10 on Tuesday. The new PM inherits a flagging economy, with inflation at a 40-year high, with Liz Truss reportedly strongly considering freezing energy bills in a bid to ease the burden on households this winter.

Having made tax cuts a key priority during her leadership campaign, Ms Truss had remained tight-lipped into Sunday about what kind of support package she might introduce as the UK faces the prospect of soaring energy bills and a worsening cost-of-living crisis.

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But reports in The Daily Telegraph and The Times on Monday suggest Ms Truss will likely introduce an energy bills freeze in some form. Two Welsh Conservative Members of the Senedd explain why they are backing Liz Truss

The Times reports the package could be on the scale of the furlough scheme introduced by then-Chancellor Rishi Sunak when the Covid-19 pandemic struck, while the Telegraph suggests the specifics of such a policy are still being debated.

Ms Truss had used an interview on the BBC on Sunday to insist that she would within a week reveal fresh supports for struggling households, but repeatedly declined to spell out what those support measures might look like.

"Before you have been elected as prime minister, you don't have all the wherewithal to get the things done," she told the Sunday with Laura Kuenssberg programme. "This is why it will take a week to sort out the precise plans and make sure we are able to announce