Conservative leader Michael Howard conceded his party's defeat and announced that he would resign before the next general elections and as soon as a successor was found.
The announcement came after Prime Minister Tony Blair on Thursday won a historic third term in power for his Labour party but with a drastically reduced majority that could force him to step aside even before his term expired.
"I have said that if people don't deliver, they go. And for me, delivering meant winning the elections. I did not do
that," Howard, 63, said in a speech to his party, adding he would stay on long enough for the Tories to modify their
system for choosing a new leader.
Labour needed at least 324 seats for the absolute majority in the 646-seat House of Commons. With results for
621 seats declared so far, Labour won 353, Conservative - 196, Liberal Democrats - 60, Scottish National Party - six, Plaid Cymru - three and independents and others - three.