0845 BST: Five days after the election resulted in a hung parliament, Conservative leader David Cameron says it is now 'decision time' for the Lib Dems. He says he has offered a 'very full, very open, very reasonable offer' to them to form a government.
0915 BST: All eyes remain on Liberal Democrat leader Nick Clegg. He says talks have reached a 'critical and final phase'. He has held private talks with both Prime Minister Gordon Brown and Mr Cameron about forming a government.
1225 BST: Still the prime minister despite his party not winning the most seats or votes, Mr Brown is smiling as he travels from Downing Street to Parliament on Tuesday, a day after announcing he would step down by September as Labour Party leader.
1251 BST: After another session of negotiations with the Liberal Democrats, Labour's Ed Miliband (right) says they have had 'good discussions'.
1357 BST: The Liberal Democrat negotiating team, including Chris Huhne (front) and Danny Alexander (behind), resume talks with the Conservatives, after talks were held with Labour counterparts earlier in the day.
1405 BST: The Conservative team, including William Hague and George Osborne, arrive for more talks with the Lib Dems at the Cabinet Office. Mr Osborne says a Conservative-Lib Dem coalition would 'be able to command the confidence of the country'.
As the talks continue throughout the day, the media remain stationed outside the Cabinet Office, microphones ready to catch every comment.
1600 BST approx: Mr Brown (centre top) walks toward a side entrance of 10 Downing St after meetings. By early evening, sources were saying that Labour was close to admitting defeat, but that the PM would not resign until a deal was finalised.
1650 BST: Lord Mandelson, the business secretary, leaves Downing Street amid increasing speculation that talks between Labour and the Liberal Democrats have ended with no deal. He returns at 1735 BST.
1917 BST: Mr Brown, with his wife, Sarah, by his side, announces he is to resign, having failed to forge a deal with the Liberal Democrats. He was prime minister from June 2007.
1918 BST: He walks down Downing Street with Sarah and their sons John and Fraser, before driving to Buckingham Palace to tender his resignation to the Queen.
1945 BST: Gordon Brown's last act as prime minister is an audience with the Queen, at which he tendered, and she accepted, his resignation.
2035 BST: Within the hour the Queen confirms David Cameron as the new prime minister - the first Conservative prime minister in 13 years.
2049 BST: David Cameron waves with his wife Samantha before he enters 10 Downing Street for the first time as prime minister. He says he wants a 'full' coalition with the Liberal Democrats.
2117 BST: The first foreign leader to congratulate David Cameron on becoming prime minister is US President Barack Obama, who phones him from the Oval Office.
In the early hours of Wednesday morning, a meeting of the Liberal Democrat parliamentary party and its federal executive formally ratifies the coalition deal with the Conservatives. Nick Clegg tells supporters the coalition offers a 'unique opportunity'.