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00:30It was the proudest moment of my life, a new Labour government, the first in 14 years, a page in
00:39our country's history turned after years of disappointment and despair.
00:44The chance to change the lives of millions of people for the better. That's what I came into politics for.
00:52The journey to that point was not easy. Six years ago, I inherited a Labour Party that was politically, financially
01:04and morally bankrupt.
01:06I was told time and time again that my party was finished, that we were consigned to history, that a
01:17majority at the general election, let alone a landslide majority, was impossible.
01:24But we proved those people wrong because we changed our party, ripping out the poison of anti-Semitism, restoring trust
01:35on the economy, defence and national security.
01:39And becoming a party that once again stood proudly with, not against, our national flag.
01:46The hard work of change was with a singular purpose, not power for power's sake, but to change Britain for
01:57the better.
01:57To build a fairer country with dignity and respect, where everyone is seen, everyone is valued.
02:09Wealth and opportunity for all, not just the privileged crew.
02:18And look at what we've achieved in just two years.
02:22An economy that is stronger, growing faster than our peers.
02:28Wages rising faster than inflation in every single month since we came to power.
02:33Investment secured, infrastructure being built, an end to austerity, with the fastest fall in NHS waiting lists for 17 years.
02:45The biggest improvement in rights for workers and renters in a generation.
02:51The biggest uplift in defence spending since the Cold War.
02:56Small boat crossings falling, asylum hotels closing.
03:00Protecting young people from social media and half a million children being lifted out of poverty because of the choices
03:10that I made.
03:12Our reputation in the world restored, with Britain once again standing up for decency, respect and the rule of law.
03:22Our reputation in Europe, securing trade deals, standing with Ukraine, standing up for our values and rebuilding our relationship with
03:31our allies in Europe.
03:33Change promised by a Labour government.
03:37Change fought for by a Labour government.
03:39Change delivered by a Labour government.
03:45But I know the question being asked now is not who was best placed to change the Labour Party, to
03:54take us into power and to begin the vital work of improving lives for millions of people.
04:00Those questions have been answered.
04:04The question my party is asking now is whether I am best placed to lead us into the next general
04:13election.
04:15I have heard the answer of my parliamentary party to that question.
04:22And I accept that answer with good grace.
04:27Every decision I have taken has been about putting the country I love first.
04:33That is why I will resign as leader of the Labour Party.
04:38I have spoken to His Majesty the King this morning to inform him of my decision.
04:44I will ask the National Executive Committee of the Labour Party to set out a timetable with nominations opening on
04:52the 9th of July and completed by the summer recess.
04:56In the case of a contest, this will ensure a new leader is in place before Parliament returns in September.
05:04I will remain in post as Prime Minister until the contest is complete.
05:10And I will do everything I can to ensure an orderly handover of power.
05:16I will also give my successor my full and unequivocal support, knowing that they will inherit a Britain that is
05:24far 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 for their incredible commitment, service and support.
05:50I want to thank the brilliant number 10 staff and our country's extraordinary civil service, who dedicate their lives to
05:59public 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, Vic, 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.
07:00Thank you very much.
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