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David Cameron to host last cabinet meeting as PM

Cameron will also face questions at Parliament tomorrow before formally resigning.

FILE: British Prime Minister David Cameron. Picture: AFP.

LONDON - British Prime Minister David Cameron is expected to host his last cabinet meeting today as the shift in power to his successor begins.

Tomorrow evening Theresa May will become the second female British leader after a turbulent three-week period since the European union referendum saw the UK vote to leave the EU.

The ruling Conservative Party is moving fast to close ranks and secure a smooth transition with a new leader.

It's trying to avoid the need for a new general election and give the message out that it's business as usual.

It's a message the markets have appreciated with both share values and sterling strengthening.

Following today's Cabinet meeting, Cameron will face questions at Parliament tomorrow before being driven to Buckingham Palace to formally resign.

WATCH: David Cameron resigns as British PM

The Queen will then invite Theresa May over and invite her to form a new government.