Rishi Sunak has resigned as leader of the Conservative Party after Labour won a landslide in the general election, saying “I am sorry”.
Mr Sunak said he would not leave his role immediately but would do so once a Tory leadership race begins.
“I would like to say, first and foremost, I am sorry. I have given this job my all,” he said on the steps of 10 Downing Street.
“But you have sent a clear signal that the government of the United Kingdom must change.
“And yours is the only judgement that matters.
“I have heard your anger, your disappointment and I take responsibility for this loss.”
He added: “I am honoured to have been your prime minister, this is the best country in the world.”
The Conservatives have lost more seats than any other election on record as large swathes of the country turned red.
Sir Keir Starmer claimed victory at 5am on Friday – telling a crowd of supporters that the UK has “the opportunity after 14 years to get its future back”.
After winning his seat in Richmond, North Yorkshire, Mr Sunak conceded defeat and said it was a “sobering” night.
He added: “The Labour Party has won this general election and I have called Sir Keir Starmer to congratulate him on his victory.
“The British people have delivered a sobering verdict tonight, there is much to learn… and I take responsibility for the loss.”
Labour victory exceeds exit poll prediction – follow live
In a message to the hundreds of Tories who have lost their seats, Mr Sunak said: “I am sorry.”
“It pains me to think how many good colleagues who contributed so much to their communities and our country will now no longer sit in the House of Commons. I thank them for their hard work and their service,” he added.
Mr Sunak said it is “important” the Conservative Party now rebuilds and also takes up its “crucial role in opposition, professionally and effectively”.
In his resignation speech, he also reflected on his leadership, saying inflation is “back to target, mortgage rates are falling and growth has returned”.
He said the Conservatives have “enhanced our standing in the world, rebuilding relations with allies, leading global efforts to support Ukraine and becoming the home of a new generation of transformative technologies”.
Analysis: Fickle voters hand Labour a ‘loveless landslide’
A record 11 cabinet ministers out of 22 were voted out – as well as former prime minister Liz Truss, who lost her majority of more than 24,000.
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