Sir Keir Starmer has announced he is stepping down as prime minister and leader of the Labour Party, here is his resignation speech in full:

Thank you. Thank you. Walking up this street two years ago was the proudest moment of my life. A new Labour government. The first in 14 years. A page in our country's history turned after years of disappointment and despair.

The chance to change the lives of millions of people for the better. That's what I came into politics for. The journey to that point was not easy.

Six years ago, I inherited a Labour Party that was politically, financially and morally bankrupt. I was told, time and time again, that my party was finished.

That we were consigned to history, that a majority at the general election, let alone a landslide majority, was impossible. But we proved those people wrong because we changed our party.

Ripping out the poison of antisemitism, restoring trust on the economy, defence, and national security.

And becoming a party that, once again, stood proudly with, not against, our national flag. The hard work of change was with a singular purpose. Not power for power's sake but to change Britain for the better.

To build a fairer country, with dignity and respect, where everyone is seen, everyone is valued. Wealth and opportunity for all, not just the privileged few. And look at what we've achieved in just two years.

An economy that is stronger, growing faster than our peers. Wages rising faster than inflation in every single month since we came to power. Investment secured, infrastructure being built. An end to austerity, with the fastest fall in NHS waiting lists for 17 years.

The biggest improvement in rights for workers and renters in a generation. The biggest uplift in defence spending since the Cold War. Small boat crossings falling, asylum hotels closing, protecting young people from social media, and half a million children being lifted out of poverty because of the choices that I made.

Our reputation in the world restored, with Britain once again standing up for decency, respect and the rule of law. Securing trade dues, standing with Ukraine, standing up for our values, and rebuilding our relationship with our allies in Europe.

Change promised by a Labour government. Change fought for by a Labour government, change delivered by a Labour government.

But I know the question being asked now is not who was best placed to change the Labour Party, to take us into power, and to begin the vital work of improving lives for millions of people. Those questions have been answered.

The question my party is asking now is whether I am best placed to lead us into the next general election. I have heard the answer of my parliamentary party to that question. And I accept that answer with good grace.

Every decision I've taken has been about putting the country I love first. That is why I will resign as leader of the Labour Party. I have spoken to His Majesty the King this morning to inform him of my decision.

I will ask the National Executive Committee of the Labour Party to set out a timetable with nominations opening on 9 July and completed by the summer recess. In the case of a contest, this will ensure a new leader is in place before Parliament returns in September.

I will remain in post as Prime Minister until the contest is complete. And I will do everything I can to ensure an orderly handover of power.

I will also give my successor my full and unequivocal support, knowing that they will inherit a Britain that is far stronger and fairer than the one I inherited two years ago, better prepared for the challenges ahead, and better able to ensure the Labour Party secures a second term in office.

I want to thank all of those friends and colleagues who have been at my side for these past six years or so for their incredible commitment, service and support.

I want to thank the brilliant No 10 staff and our country's extraordinary civil service, who dedicate their lives to public service.

And when I leave, the biggest job in the country. I shall spend more time on the most important job. Being the best husband I can to my fantastic wife, Vic, who has been a rock by my side, through good times and bad. And being the best dad I can to my beautiful children, who are my pride and my joy.