00:26Walking up this street two years ago was the proudest moment of my
00:31life. A new Labour government. The first in 14 years. A page in our
00:39country's history turned after years of disappointment and despair.
00:44The chance to change the lives of millions of people for the better.
00:49That is what I came into politics for. The journey to that point is
00:55not easy. Six years ago, I inherited a Labour Party that was
01:02politically, financially and morally bankrupt. I was told time and
01:09time again that my party was finished. That we were consigned to
01:15history. That a majority at the general election, let alone a
01:21landslide majority was impossible. But we proved those people wrong.
01:27Because we changed our party. Ripping out the poison of anti-Semitism.
01:33Restoring trust on the economy, defence and national security. And
01:40becoming a party that once again stood proudly with, not against, our
01:45national flag. The hard work of change was with a singular purpose. Not
01:52power for power's sake. But to change Britain for the better. To build a
01:59fairer country. With dignity and respect. Where everyone is seen. Everyone is
02:09valued. Wealth and opportunity for all. Not just the privileged crew. And look at
02:19what we have achieved in just two years. An economy that is stronger. Going
02:25faster than our peers. Wages rising faster than inflation in every single
02:31month since we came to power. Investment secured. Infrastructure being
02:37built. An end to austerity. With the fastest fall in NHS waiting lists for
02:4417 years. The biggest improvement in rights for workers and renters in a
02:50generation. The biggest uplift in defence spending since the Cold War.
02:56Small boat crossings falling. Asylum hotels closing. Protecting young people
03:03from social media. And half a million children being lifted from
03:07poverty. Because of the choices that I made. Our reputation in the world
03:15restored. With Britain once again standing up for decency, respect and the
03:22rule of law. Securing trade deals. Standing with Ukraine. Standing up for our
03:28values. And rebuilding our relationship with our allies in Europe. Change promised by
03:35a Labour government. Change fought for by a Labour government. Change delivered by a
03:41Labour government. But I know the question being asked now is not who was best placed to
03:52change the Labour Party to take us into power and to begin the vital work of improving lives
03:58lives for millions of people. Those questions have been answered. The question my party is asking
04:07now is whether I am best placed to lead us into the next general election. I have heard the answer
04:17of my parliamentary party to that question. And I accept that answer with good grace.
04:27Every decision I have taken has been about putting the country I love first. That is why I will resign
04:35as leader of the Labour Party. I have spoken to His Majesty the King this morning to inform him of
04:43my decision.
04:44I will ask the National Executive Committee of the Labour Party to set out a timetable
04:49with nominations opening on the 9th of July and completed by the summer recess. In the case of a contest,
04:58this will ensure a new leader is in place before Parliament returns in September. I will remain in post as
05:13an orderly handover of power. I will also give my successor my full and unequivocal support, knowing that
05:22they will inherit a Britain that is far stronger and fairer than the one I inherited two years ago,
05:29better prepared for the challenges ahead and better able to ensure the Labour Party secures a second term in office.
05:38I want to thank all of those friends and colleagues who have been at my side for these past six
05:45years or so,
05:46for their incredible commitment, service and support. I want to thank the brilliant Number 10 staff,
05:53and our country's extraordinary civil service, who dedicate their lives to public service.
06:01And when I leave the biggest job in the country, I shall spend more time on the most important job.
06:09being the best husband I can to my fantastic wife Fig, who has been a rock by my side through
06:17good times and bad.
06:19And being the best dad I can to my beautiful children, who are my pride and my joy.
06:27Thank you very much.
06:39Thank you very much.
06:58Thank you very much.
