One of the first objectives will be to form her government, and the rumour mill has already thrown up plenty of names as to what the Liz Truss government might look like.
Here’s who may end up within the Cabinet under the new PM, with some politicians set to keep their positions and others set for their first role in Cabinet.
When could the reshuffle take place?
The Cabinet reshuffle will only be confirmed once Liz Truss’ formal appointment as Prime Minister has been confirmed by Queen Elizabeth II.
Liz Truss’ cabinet is expected to be the first in history where a white man has not held the post of chancellor, foreign secretary or home secretary.
Who could be in the Cabinet?
Lots of speculation has been taking place, but what seems likely is politicians such as Therese Coffey, former health secretary Sajid Javid, and Kwasi Kwateng.
Coffey, who was recently the pensions minister, has been touted to be given the role of health secretary.
Former Leader of the House of Commons, Jacob Rees-Mogg, has been lined up for the role of business secretary and Sajid Javid is rumoured to be offered the position of Northern Ireland secretary.
Other rumoured appointments include Iain Duncan Smith as leader of the commons, Allister Jack as minister for Scotland, Simon Clarke for levelling up secretary, and Brandon Lewis as minister for Justice.
Former Business Secretary, Kwasi Kwarteng is almost guaranteed to be unveiled as the new Chancellor of the Exchequer; James Cleverly could become the new Foreign Secretary and hard Brexiter, Attorney General, Suella Braverman, will succeed Priti Patel as Home Secretary.
Nadine Dorries will not be in the new cabinet after she announced her decision to resign from government on Monday.
What are Liz Truss’ policies?
Liz Truss will set out on her premiership with a series of new policies.
She has pledged to reverse the National Insurance hike which was implemented earlier this year and has also said she will hold an emergency budget later this month.
Within this budget, she is expected to announce £30 billion in tax cuts.
Other policies include the ruling out of energy rationing this winter, a decision which has been said could lead to blackouts to save energy.
The controversial Rwanda immigration plan is also set to be expanded by Ms Truss, she tweeted a new three point plan.