Rishi Sunak resigns as Prime Minister after devastating election defeat

RISHI Sunak has resigned as Prime Minister following a seismic election defeat.

The Tories lost more than 250 seats in their worst result in modern times, as Keir Starmer's Labour stormed to victory with a gigantic majority.

In a statement outside Downing Street, Sunak said: “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.”

READ MORE: General Election tracker: Maps and charts show Scotland results so far

Sunak will travel to Buckingham Palace to formally tender his resignation as Prime Minister this morning and he has confirmed he will quit as Tory leader once arrangements have been made to elect a successor.

He added: "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.”

Sunak apologised to Conservative candidates and campaigners and thanked them for their "hard work and service".

Among the well-known Conservative figures to lose seats overnight were Commons Leader Penny Mordaunt, former Brexit opportunities minister Jacob Rees-Mogg and Defence Secretary Grant Shapps.

Former prime minister Liz Truss also lost her seat by fewer than 700 votes.

Starmer will be appointed prime minister later on Friday before he makes his first speech at Downing Street.

Despite only increasing its share of the national vote by around 2%, Labour have won well over 400 seats with a swathe of gains in Scotland at the SNP's expense.