The Latest Breaking News from Conservative Party

The 1922 Committee got its nickname from the year its first members were elected

Truss is asked by the British monarch to form a new government a day after the Conservative Party picked her as a leader

Liz Truss is a onetime accountant who has served in Parliament for the past 12 years

The new Conservative Party leader has a busy day ahead, meeting the Queen and finalising her Cabinet.

Australian political leaders have welcomed the election of new UK prime minister Liz Truss, who replaces the resigned leader Boris Johnson.

Liz Truss took over as Britain's prime minister on Tuesday, vowing immediate action to tackle one of the most daunting set of challenges for an incoming leader in post-War history led by soaring energy bills, looming recession and industrial strife.

Liz Truss has become the fourth Tory PM in six years with fears continuing over the Conservative Party's "same old failed ideas" leaving Britain on the edge of a cliff

She won over the Conservative Party faithful. Now can she win over the UK? Our panel discusses the challenges ahead for prime minister-in-waiting Liz Truss. The one-time Remainer played the hardline Brexiteer in a sometimes bitter Tory leadership campaign, often courting comparisons with Britain's first female PM, Margaret Thatcher.

Liz Truss, who is set to take over as Britain's Prime Minister, will not offer former finance minister and her leadership contest rival Rishi Sunak a role in her cabinet, the Guardian reported on Monday.