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A concert is planned at Buckingham Palace to mark the handover to London

London will host a free party in the Mall on 24 August to celebrate the handover of the Olympic Games from Beijing to London, the 2012 hosts.

A live concert for 40,000 people in the capital will coincide with the handing over of the Olympic flag at the closing ceremony of the Beijing Games.

London 2012 chairman Lord Coe said: "It is to start the narrative of what we want to be saying about ourselves.

"It is to link people back home into the celebrations in Beijing."

The concert will be broadcast live on BBC1 and Radio 4 and big screens will be set up around the country so spectators can watch the ceremony.

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In Beijing, London will stage an eight-minute performance at the closing ceremony.

London Mayor Boris Johnson said: "I'm suspicious of any state-sponsored effort to encourage any national mood of euphoria, but looking at what's going to be in store for us on the 24th I can say it will be a great party.

"It's going to be remorselessly and cheerfully symbolic of our country."