Ed Miliband has resigned as Labour leader, effective following today’s VE day commemorations, after the party was hammered in the general election.
Miliband’s party lost out heavily last night, retaining just a single seat in Scotland, while shadow chancellor Ed Balls lost his seat in Morley and Outwood.
In a speech today, Miliband said Labour deputy leader Harriet Harman will temporarily take his place as the party seeks a new leader.
The news comes as the Conservatives edge closer to a parliamentary majority.
Initial exit polls forecast the Tories would gain 316 seats, but David Cameron’s party have already secured 325.
Liberal Democrat leader Nick Clegg has confirmed he will also step down after his party suffered huge losses, while Ukip leader Nigel Farage has followed suit after failing to secure a seat in the constituency of Thanet South.