00:00The question my party is asking now is whether I am best placed to lead us into the next general
00:09election.
00:11I have heard the answer of my parliamentary party to that question, and I accept that answer with good grace.
00:23Every decision I have taken has been about putting the country I love first.
00:29That is why I will resign as leader of the Labour Party.
00:34I have spoken to His Majesty the King this morning to inform him of my decision.
00:41I will ask the National Executive Committee of the Labour Party to set out a timetable with nominations opening on
00:48the 9th of July and completed by the summer recess.
00:52In the case of a contest, this will ensure a new leader is in place before Parliament returns in September.
01:01I will remain in post as Prime Minister until the contest is complete.
01:06And I will do everything I can to ensure an orderly handover of power.
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