Sunak to resign as British PM, Tory leader after election defeat

LONDON -- Rishi Sunak said he would meet King Charles III to formally resign as British prime minister on Friday and stand down as leader of the Conservative Party after the Tories lost heavily to the Labour Party in the country's general election.

His resignation paved the way for Labour leader Keir Starmer to be the next prime minister after the latter meets with King Charles III.

Vote counting for Thursday's election remains ongoing. Out of 648 seats of the 650-seat parliament that have been won so far, Labour obtained 412 and the Conservatives 121. Labour's parliamentary majority ended the Conservatives' 14-year rule.

"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," Sunak said in his farewell address outside 10 Downing Street.

"I have heard your anger, your disappointment. And I take responsibility for this loss," he added.