Rishi Sunak has resigned as Prime Minister at Buckingham Palace in a departure audience with King Charles following a crushing defeat in the general election.

The Labour Party secured a commanding victory in the election with a huge majority of 412 seats.

Sunak delivered his resignation speech outside Downing Street just minutes before meeting with King Charles.

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Sunak succeeded Liz Truss as Prime Minister after her disastrous tenure of just 45 days.

He said in his resignation speech: “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.”

Sunak also outlined that he will not step down as Conservative Party leader until arrangements are in place to select a replacement.

He said: “Following this result I will step down as party leader – not immediately, but once the formal arrangements for selecting my successor are in place.

“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 concluded his speech by saying: “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.”

The Conservative MP was accompanied by his wife Akshata Murty at Buckingham Palace.

The couple were greeted at the King’s door by Sir Clive Alderton, principal private secretary to the King and Queen, and the King’s equerry Commander William Thornton, Royal Navy.

Sunak will leave privately and unseen with his family after the audience with King Charles.

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