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Rishi Sunak has said “I am sorry” to the nation as he began his final speech as Prime Minister.
The weather held up prior to his arrival at Downing Street.
A very light drizzle of rain fell in the street after much heavier rain had greeted members of the media earlier in the morning.
Mr Sunak previously got soaked as he announced the General Election standing outside No 10 in May.
After stepping out onto a drizzly Downing Street, he said: “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.
“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 added: “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 apologised to Conservative candidates and campaigners, saying: “I’m sorry that we could not deliver what your efforts deserved.
“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 gave his thanks to his family for the “sacrifices they have made” as he served as Prime Minister.
Delivering his final statement as Prime Minister on Downing Street, he said: “I’d like to thank my colleagues, my Cabinet, the Civil Service, especially here in Downing Street. The team at Chequers, my staff, CCHQ.
“But, most of all, I’d like to express my gratitude to my wife Akshata and our beautiful daughters.
“I can never thank them enough for the sacrifices they have made so that I might serve our country.”
He praised Sir Keir Starmer as a “decent, public-spirited man who I respect” as he conceded defeat outside Number 10.
The Prime Minister said “whatever our disagreements,” he wished Sir Keir and his family well as they make “the huge transition to their new lives behind this door”.
Mr Sunak said: “Whilst he has been my political opponent, Sir 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.
“He and his family deserve the very best of our understanding as they make the huge transition to their new lives behind this door.”
Rishi Sunak said he was “proud” of his achievements and believes the UK is “more prosperous, fairer and resilient than it was in 2010”.
The Prime Minister cited the negotiation of the Windsor Framework and efforts to support Ukraine during his premiership.
“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.”
Rishi Sunak concluded his farewell speech by acknowledging the “difficult days” of the election campaign and pointing to the British values of “kindness, decency and tolerance”.
Ending his last statement as Prime Minister, he said: “One of the most remarkable things about Britain is just how unremarkable it is that two generations after my grandparents came here with little, I could become Prime Minister. And that I could watch my two young daughters light Diwali candles on the steps in Downing Street.
“We must hold true to that idea of who we are. That vision of kindness, decency and tolerance that has always been the British way.
“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.
“This is the best country in the world. And it is thanks entirely to you, the British people, the true source of all our achievements, our strengths and our greatness.
“Thank you.”
After his speech, Mr Sunak and his wife Akshata Murty, who was carrying an umbrella, got into a dark blue Audi and were driven away from Downing Street.
Mr Sunak is now expected to go to Buckingham Palace for an audience with the King where he will officially end his premiership.
