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.
00:22Every decision I've taken has been about putting the country I love first.
00:28That 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.
00:40I will ask the National Executive Committee of the Labour Party to set out a timetable with nominations opening on
00:47the 9th of July and completed by the summer recess.
00:51In the case of a contest, this will ensure a new leader is in place before Parliament returns in September.
01:00I will remain in post as Prime Minister until the contest is complete, and I will do everything I can
01:08to ensure an orderly handover of power.
01:11And when I leave the biggest job in the country, I shall spend more time on the most important job.
01:20Being the best husband I can to my fantastic wife, Vic, who has been a rock by my side through
01:27good times and bad.
01:30And being the best dad I can to my beautiful children, who are my pride and my joy.
01:36Thank you very much.
01:39Thank you very much.
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