Sir Keir Starmer has announced he will resign as Prime Minister and Labour leader, saying entering Downing Street in 2024 was the proudest moment of his life.

Speaking outside Downing Street, Sir Keir said he had spoken with His Majesty the King this morning to inform him of his decision.

He said he has asked Labour’s National Executive Committee to set out a timetable for the leadership process, with nominations opening on 9 July and the process due to be completed by the summer recess. Sir Keir said this would mean a new Labour leader is in place before Parliament returns in September.

Until then, he said he will remain in post as Prime Minister.

Before announcing his resignation, Sir Keir reflected on his time as Labour leader. He said he had inherited a party that was “politically, financially and morally bankrupt” and said he had been told “time and time again” that Labour was “finished”.

He said he had proved those people wrong, referring to the changes he said he made to the party, including “ripping out the poison of anti-Semitism” and restoring trust on the economy, defence and national security.

Sir Keir said the question being asked by his party was whether he was best placed to lead Labour into the next general election. He said he had “heard the answer” and accepted it “with good grace”.

He added that every decision he had taken had been about “putting the country I love first”.

Sir Keir also reflected on Labour’s general election victory in July 2024, saying walking into Downing Street two years ago was the proudest moment of his life.

Attention will now turn to the Labour Party and the process of choosing its next leader. A change of Prime Minister does not automatically mean there will be a general election. The next Prime Minister would need to command the confidence of the House of Commons.