Rishi Sunak resigns as Conservative Party leader: ‘I am sorry’

Former British Prime Minister Rishi Sunak has resigned as leader of the Conservative Party after Labour’s landslide victory in the general election on Thursday.

“I am sorry,” he said, announcing his resignation.

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 judgment that matters.”

Sunak was elected UK PM in October 2022, becoming he country’s first British-Asian PM, and the youngest in over 200 years. He succeeded Liz Truss. 

He said he takes responsibility for the Conservative Party’s landslide loss in the election. “"I have heard your anger, your disappointment and I take responsibility for this loss."

The Conservatives have lost more seats than any other election on record as large swathes of the country turned red.

In his initial reaction after the election, he said it was a “sobering verdict”.

“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.

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”.