Theresa May has been officially declared leader of the Conservative Party with immediate effect.

The announcement was made on Monday evening by Graham Brady, chairman of the 1922 committee, to cheers and applause.

The committee is made up of all Conservative backbench MPs.

May's anointing as party leader paves the way for her to become Prime Minister on Wednesday, when David Cameron has announced he will hand in his resignation to the Queen.

Cameron, who will attend his final Prime Minister's Questions as leader before going to Buckingham Palace, said he was "delighted" to be succeeded by May, hailing her as "strong and competent".

May served as home secretary under Cameron for six years, making her the longest-serving in the post for over a century.

Chancellor George Osborne said it was "very welcome news" that May would be taking over leadership of the country.

Speaking in New York, Osborne described May as having the "integrity, strength and leadership" that Britain needs.

Scottish Conservative leader Ruth Davidson has also thrown her support behind May, praising her having "the experience, the judgement and the leadership" to take office as Prime Minister "from day one".