00:22Walking up this street two years ago was the proudest moment of my life.
00:27A new Labour government, the first in 14 years.
00:32A page in our country's history turned after years of disappointment and despair.
00:39The chance to change the lives of millions of people for the better.
00:44That's what I came into politics for.
00:48The journey to that point was not easy.
00:51Six years ago, I inherited a Labour Party that was politically, financially and morally bankrupt.
01:02I was told time and time again that my party was finished.
01:08That we were consigned to history.
01:11That a majority at the general election, let alone a landslide majority, was impossible.
01:19But we proved those people wrong.
01:23Because we changed our party.
01:25Ripping out the poison of anti-Semitism.
01:28Restoring trust on the economy, defence and national security.
01:34And becoming a party that once again stood proudly with, not against, our national flag.
01:42The hard work of change was with a singular purpose.
01:47Not power for power's sake, but to change Britain for the better.
01:52To build a fairer country with dignity and respect.
01:59Where everyone is seen.
02:02Everyone is valued.
02:05Wealth and opportunity for all.
02:08Not just the privileged food.
02:13And look at what we've achieved in just two years.
02:16An economy that is stronger, going faster than our peers.
02:22Wages rising faster than inflation in every single month since we came to power.
02:29Investment secured, infrastructure being built.
02:33An end to austerity, with the fastest fall in NHS waiting lists for 17 years.
02:40The biggest improvement in rights for workers and renters in a generation.
02:46The biggest uplift in defence spending since the Cold War.
02:51Small boat crossings falling.
02:53Asylum hotels closing.
02:56Protecting young people from social media.
02:59And half a million children being lifted out of poverty because of the choices that I made.
03:06Our reputation in the world restored.
03:11With Britain once again standing up for decency, respect and the rule of law.
03:18Securing trade deals.
03:20Standing with Ukraine.
03:22Standing up for our values.
03:24And rebuilding our relationship with our allies in Europe.
03:28Change promised by a Labour government.
03:31Change fought for by a Labour government.
03:34Change delivered by a Labour government.
03:39But I know the question being asked now is not who was best placed to change the Labour Party,
03:48to take us into power and to begin the vital work of improving lives for millions of people.
03:55Those questions have been answered.
03:59The question my party is asking now is whether I am best placed to lead us into the next general
04:08election.
04:10I have heard the answer of my parliamentary party to that question.
04:17And I accept that answer with good grace.
04:22Every decision I have taken has been about putting the country I love first.
04:28That is why I will resign as leader of the Labour Party.
04:33I have spoken to His Majesty the King this morning to inform him of my decision.
04:39I will ask the National Executive Committee of the Labour Party to set out a timetable with nominations opening on
04:47the 9th of July and completed by the summer recess.
04:51In the case of a contest, this will ensure a new leader is in place before Parliament returns in September.
04:59I will remain in post as Prime Minister until the contest is complete.
05:05And I will do everything I can to ensure an orderly handover of power.
05:11I will also give my successor my full and unequivocal support,
05:17knowing that they will inherit a Britain that is far stronger and fairer than the one I inherited two years
05:23ago,
05:24better prepared for the challenges ahead and better able to ensure the Labour Party secures a second term in office.
05:33I want to thank all of those friends and colleagues who have been at my side for these past six
05:40years or so
05:41for their incredible commitment, service and support.
05:46I want to thank the brilliant Number 10 staff and our country's extraordinary civil service
05:51who dedicate their lives to public service.
05:56And when I leave the biggest job in the country,
06:00I shall spend more time on the most important job.
06:04Being the best husband I can to my fantastic wife, Vic,
06:09who has been a rock by my side through good times and bad.
06:14And being the best dad I can to my beautiful children, who are my pride and my joy.
06:22Thank you very much.
06:23Thank you very much.
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