Former British prime minister Rishi Sunak says he will step down as Conservative Party leader after the general election loss to Labour. Photo / Getty Images
Former British prime minister Rishi Sunak says he will step down as Conservative Party leader after the general election loss to Labour. Photo / Getty Images
Rishi Sunak has announced he will stand down as Conservative leader after taking the British political party to the worst result in its history.
The former prime minister said he would leave the role as soon as the arrangements to choose his successor have been put in place.
In his exit speech on the steps of No 10 Downing St he apologised to the country after Labour won a historic landslide, telling voters: “I am sorry.”
Labour leader Sir Keir Starmer gives a victory speech as he prepares for life as Britain's new prime minister. Photo / Getty Images
“I have heard your anger, your disappointment, and I take responsibility,” he said in his final address as his wife Akshata Murty watched on.
“This is a difficult day at the end of a number of difficult days but I leave this job honoured to have been your prime minister.”
Sunak added: “I have given this job my all. But you have sent a clear message, and yours is the only judgment that matters. This is a difficult day, but I leave this job honoured to have been prime minister of the best country in the world.”
He inherited a difficult legacy from Liz Truss, with inflation running high and public confidence rocked by a disastrous mini-budget.
But his time in office was also dogged by missteps and controversies, while his election campaign has been described as the worst in modern times.
In an exit address that was seen as one of his best speeches, 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.”
Conservative leader Rishi Sunak and his wife Akshata Murty on their way to vote in Britain's general election, which ended in a Labour landslide. Photo / Getty Images
Sunak is set to stay in post as Tory leader for the next few weeks while the party licks its wounds and decides how to choose his successor.
Before that can be done, a new chairman of the 1922 committee, which sets the rules for leadership contests, will have to be elected.
Sir Graham Brady, who has been in charge of the powerful backbench group since 2010, stood down as an MP at the election.
Senior party figures may also want to discuss how the race will be run and the role members will play in picking the leader.
Some MPs have suggested the power of members should be diluted after they picked Truss over Sunak in the 2022 contest.
