Boris Johnson’s successor as UK prime minister will be revealed later when either Liz Truss or Rishi Sunak is named next Conservative leader, writes BBC.

The winner of the leadership contest will be announced at 12:30 BST before they take up office on Tuesday.

The new PM inherits a flagging economy, with inflation at a 40-year high.

BBC News has been told that a menu of options has been worked up in Whitehall to help struggling households, including a freeze on energy bills.

Industry sources are increasingly optimistic that the new prime minister will back plans to freeze the energy cap, the maximum price for domestic gas and electricity set every three months by regulator Ofgem.

This would not necessarily require upfront government financing at the beginning, BBC News economics editor Faisal Islam reported.