UK Election 2024: Rishi Sunak resigns as Tory leader after Labour's win, takes full responsibility for loss

The British people have “delivered a sobering verdict,” Prime Minister Rishi Sunak said on Friday, as he conceded defeat to the left-of-center Labour. The Keir Starmer-led party will now form a government to replace the Conservatives for the first time in 14 years. 

Rishi Sunak has resigned as leader of the Conservative Party after Labour won a landslide in the general election, saying "I am sorry". The Labour Party, which has been out of power for over a decade, has passed the magic number of 326 seats in the House of Commons, confirming a change of government. 

"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.

Sunak said, "When I first stood here as your prime minister, I told you the most important task I had was to return stability to our economy. Inflation is backed to target, mortgage rates are falling and growth has returned. We have enhanced our standing in the world, rebuilding relations with allies, leading global efforts to support Ukraine, and becoming the home of new generation of transformative technologies.

"I’m proud of those achievements. I believe this country is safer, stronger, and more secure than it was 20 months ago. And it is more prosperous, fairer and resilient than it was in 2010," he added.

"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," Sunak added.

Prime Minister Narendra Modi on Friday congratulated British PM-elect Keir Starmer after he led the Labour Party to a historic victory in the UK elections. The Indian PM also lauded outgoing PM Rishi Sunak for his "admirable leadership" and active contribution to deepening India-UK ties.

Taking to X, PM Modi expressed optimism towards positive and constructive collaboration in all areas between India and the UK. "I look forward to our positive and constructive collaboration to further strengthen the India-UK Comprehensive Strategic Partnership in all areas, fostering mutual growth and prosperity," he said.