Now we know when the next prime minister takes over, will there be an orderly transition?

Politics Explained: Theresa May will stay in No 10 for a day after her successor as Tory leader has been elected

The Conservative Party confirmed yesterday morning that the result of the leadership election will be announced on 23 July. At that point, the party will have a new leader, but we had to wait until the afternoon for a No 10 spokesperson to confirm that the new leader wouldn’t take office as prime minister until the following day.

It had been reported over the weekend that Theresa May intended to take questions in the House of Commons on Wednesday 24 July. Now it is official: she will go to Buckingham Palace to tender her resignation as prime minister later that afternoon.

She will be followed to the palace by Boris Johnson or Jeremy Hunt. Whoever wins the Conservative leadership contest will then be asked by the Queen to form a government.