Rishi Sunak is resigning as Conservative leader in the wake of the party’s landslide loss to Labour in the general election.

Rishi Sunak apologised to the country after his catastrophic election loss and said he had heard voters’ “anger and disappointment” and desire for change.

Speaking outside 10 Downing Street after a disastrous night for the Conservative party, Sunak confirmed his resignation as prime minister and 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.”

He also said he would step down as Conservative leader once the arrangements for selecting his successor were in place. The party looks set to win just over 121 seats, its worst result in history.

He congratulated Keir Starmer on Labour’s landslide victory, saying: “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 added.

Speaking about his legacy, Sunak said he had brought down inflation to the Bank of England target of 2%, put mortgage rates on a downward trajectory and enhanced the UK’s international standing. He cited support for Ukraine and the negotiation of the Windsor framework on post-Brexit trading arrangements in Northern Ireland.

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