British Prime Minister David Cameron is chairing a farewell Cabinet meeting before handing over power to his successor following the historic vote to leave the European Union.

Ministers gathered Tuesday for the final session — a day after Theresa May was confirmed to be the new Conservative leader. She will spend the day considering the makeup of her own Cabinet.

British media have focused on whether Treasury chief George Osborne will keep his job.

With the pound in crisis and fears over the economy, some argue that May could opt for continuity and keep Osborne in place, particularly as he has the confidence of many in the banks and markets.

But others say that the key position should go to someone who favored leaving the European Union.