British Prime Minister Rishi Sunak on Friday announced his intention to resign as the leader of the Conservative Party following a significant election defeat.
However, Sunak will remain in his position until a successor is appointed.
In a solemn address, he expressed his regret to the nation and acknowledged the voters' clear call for change.
"I will shortly be seeing His Majesty the King to offer my resignation as prime minister to the country. I would like to say first and foremost, I am sorry," Sunak said.
"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."
In his speech, Sunak also extended his praise to Keir Starmer, the leader of the Labour Party, who is set to become the new prime minister.
"Whilst he has been my political opponent, Keir Starmer will shortly become our prime minister. 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," Sunak remarked.
"He and his family deserve the very best of our understanding as they make the huge transition to their new lives behind this door. And as he grapples with this most demanding of jobs in an increasingly unstable world."
Labour Party has won the parliamentary election after reaching the 326 seats required for a majority in the House Of Commons.
The party has now won 412 seats in the 650-seat House of Commons and the Conservatives 121.
Labour also won the "Red Wall" constituencies like Bolsover, bellwether gains like Nuneaton and Stevenage.
The vote counting still continues.
