UK General Election 2024: Rishi Sunak to step down as Conservative Party leader after defeat

Speaking outside No. 10 for the last time, Mr Sunak, who retained his Richmond seat, said he will vacate the post once the party appoints a new successor. He also said he will tender his resignation as the prime minister to the King.

Conservative Party has suffered one of the worst defeats in its history, losing a significant number of seats including one held by a former prime minister Liz Truss, as Labour ended their 14-year rule with a landslide win.

Addressing the nation, Mr Sunak said: “I will shortly be seeing His Majesty the King to offer my resignation as Prime Minister. To the country, I would like to say first and foremost, I am sorry.

“I have given this job my all, but you have sent a clear signal that the Government of the United Kingdom must change. And yours is the only judgment that matters. I have heard your anger, your disappointment, and I take responsibility for this loss.”

Mr Sunak, who conceded defeat in the early hours of Friday (July 5), added: “Following this result I will step down as party leader – not immediately, but once the formal arrangements for selecting my successor are in place. It is important that after 14 years in government the Conservative Party rebuilds, but also that it takes up its crucial role in opposition professionally and effectively.”

He also apologised to Conservative candidates and campaigners, saying: “I’m sorry that we could not deliver what your efforts deserved. 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 then praised Labour leader Sir Keir Starmer as a “decent, public-spirited man who I respect”. He said, “whatever our disagreements,” he wished Sir Keir and his family well as they make “the huge transition to their new lives behind this door”.

He added: “Whilst he has been my political opponent, Sir Keir Starmer will shortly become our prime minister. In this job, his successes will be all our successes, and I wish him and his family well.

“Whatever our disagreements in this campaign, he is a decent, public-spirited man who I respect. He and his family deserve the very best of our understanding as they make the huge transition to their new lives behind this door.”

He also gave his thanks to his family for the “sacrifices they have made” as he served as Prime Minister. He said: “I’d like to thank my colleagues, my Cabinet, the Civil Service, especially here in Downing Street. The team at Chequers, my staff, CCHQ.

“But, most of all, I’d like to express my gratitude to my wife Akshata and our beautiful daughters. I can never thank them enough for the sacrifices they have made so that I might serve our country.”

After his speech, Mr Sunak and his wife Akshata Murty, who was carrying an umbrella, got into a dark blue Audi and were driven away from Downing Street. Mr Sunak is now expected to go to Buckingham Palace for an audience with the King where he will officially end his premiership.

A statement from Buckingham Palace said: “The Right Honourable Rishi Sunak MP had an audience of The King this morning and tendered his resignation as Prime Minister and First Lord of the Treasury, which His Majesty was graciously pleased to accept.”