1. ‘Walking up this street two years ago was the proudest moment of my life’

Starmer began by setting out his biggest achievement – winning a landslide in the general election in July 2024. The “two years ago” part was almost certainly a reminder that his foes have pushed him out quickly. Too quickly, allies of the prime minister would say.

Emphasising the point, Starmer said he had “inherited a Labour party that was politically, financially and morally bankrupt” when he took over in 2020, adding: “I was told, time and time again, that my party was finished.”

This is the caveat Starmer would like in bold letters in the history books. Yes, he had faults as prime minister. But he was a hugely successful opposition leader, turning round the party from the catastrophic 2019 election loss and the internal troubles under Jeremy Corbyn.

2. ‘Half a million children being lifted out of poverty because of the choices that I made’

The next part of the speech was also valedictory – look at all the things I did in No 10 – delivered as a series of staccato sentences also taking in global affairs, renters’ and workers’ rights, and falling immigration numbers.

Even Starmer’s opponents in Labour are proud of much of this. But they might point to the boast about children being lifted out of poverty due to the abolition of the two-child benefit cap and query whether it was his choice.

Starmer took office saying it was too expensive to make this change, and only did so after months of pressure from MPs and ministers.

3. ‘The question my party is asking now is whether I am best placed to lead us into the next general election’

He went on: “I have heard the answer of my parliamentary party to that question. And I accept that answer with good grace.”

That was the crux: his MPs had spoken, and the verdict was they had lost confidence. Starmer could have clung on for a while, but the inevitable series of rolling ministerial resignations would have damaged the party, and probably the nation.

“Every decision I’ve taken has been about putting the country I love first,” Starmer added. This was the decision he reached painfully at the prime ministerial country retreat of Chequers over the weekend – it was time to go with some dignity.

4. ‘In the case of a contest, this will ensure a new leader is in place before parliament returns in September’

Starmer set out what could be seen as a fairly leisurely timetable for his replacement, with nominations for a new leader not even opening before 9 July – although this is ultimately up to Labour’s national executive.

As set out, it would mean the earliest a new PM could take over, if there was only one candidate and thus no vote of Labour members, would be mid-July, just before the Commons summer recess and after the crucial Nato summit in Ankara a week before.

This allows Starmer both a final run-out on the global stage, but also some weeks to cement a few legacy projects, perhaps including the defence investment plan.

5. ‘I will also give my successor my full and unequivocal support’

This is probably true – but almost certainly not from the vantage point of a seat in Andy Burnham’s cabinet. For all the talk that Starmer could offer some continuity – perhaps as foreign secretary – there are no signs he would want this, or, most likely, that Burnham would actively seek it.

6. ‘And when I leave the biggest job in the country, I shall spend more time on the most important job’

The final, most heartfelt and subtext-free part of the speech, where Starmer, choking back his emotion, paid tribute to his wife, Victoria, who was looking on, and his two teenage children.

Starmer is a very obviously devoted family man, and talks with huge pride in private about his son and daughter. He will now have a lot more time with them.