Prime Minister Rishi Sunak has announced his resignation as the leader of the Conservative Party following a historic victory by Labour in the general election.

Addressing the nation from the steps of 10 Downing Street, Sunak expressed his deep regret and took full responsibility for the party’s defeat.

“I would like to say, first and foremost, I am sorry. I have given this job my all,” Sunak began, visibly moved.

“But you have sent a clear signal that the government of the United Kingdom must change. And yours is the only judgement that matters. I have heard your anger, your disappointment, and I take responsibility for this loss.”

The Conservatives experienced a staggering loss, with more seats taken by Labour than in any previous election.

This shift marked a dramatic change in the political landscape, as large swathes of the country turned red. Sir Keir Starmer, leader of the Labour Party, claimed victory early Friday morning, addressing a jubilant crowd of supporters.

“The UK has the opportunity after 14 years to get its future back,” Starmer proclaimed.

Sunak, who retained his seat in Richmond, North Yorkshire, described the night as “sobering.”

In his concession, he stated, “The Labour Party has won this general election, and I have called Sir Keir Starmer to congratulate him on his victory. The British people have delivered a sobering verdict tonight; there is much to learn, and I take responsibility for the loss.”

Following his resignation speech, Sunak and his wife, Akshata, departed from Downing Street for Buckingham Palace to formally tender his resignation to King Charles III.

A spokesperson for the King confirmed, “His Majesty was graciously pleased to accept.”

Reflecting on his tenure, Sunak said, “I am honoured to have been your prime minister. This is the best country in the world.”

He also acknowledged the many Conservative MPs who lost their seats, stating, “It pains me to think how many good colleagues who contributed so much to their communities and our country will now no longer sit in the House of Commons. I thank them for their hard work and their service.”

As the Conservative Party faces a period of introspection and rebuilding, Sunak emphasized the importance of the party’s role in opposition.

“It is important that the Conservative Party now rebuilds and also takes up its crucial role in opposition, professionally and effectively,” he noted.

The leadership race within the Conservative Party is expected to commence shortly, as the party seeks to navigate its path forward after this significant electoral defeat.

For now, the UK braces for a new political era under Labour’s leadership, with the promise of significant changes on the horizon.

In the wake of President Joe Biden’s stumbling debate performance against Donald Trump last week, key Democrats have rallied to defend his reelection bid, urging him to continue focusing on his record and the stark contrast with his opponent.

The debate, held on Thursday, left many Americans questioning Biden’s ability to lead, prompting a vigorous defense from his supporters.

Representative Jim Clyburn, a pivotal figure in Biden’s 2020 campaign, acknowledged the president had a “bad” debate but maintained that Biden should persist in his campaign.

“There were some trepidations among House members afterward,” Clyburn admitted on CNN’s State of the Union. “But he should stay in this race and demonstrate going forward his capacity to lead the country.”

The fallout from the debate has intensified scrutiny on Biden’s health and leadership abilities. A CBS News poll of registered voters published Sunday revealed only 27% believe the president has the mental and cognitive health to serve, down from 35% in early June.

Despite these concerns, Biden’s campaign is pushing back against the negative narrative.

In a series of memos to donors and surrogates over the weekend, the campaign dismissed the alarm as a creation of pundits and operatives disconnected from ordinary Americans.

They asserted that Biden would unequivocally be the 2024 Democratic nominee and any dip in support was merely a temporary reflection of the media’s overreaction.

Biden’s allies took to Sunday political talk shows to reinforce their support.

“I understand there’s a lot of hand-wringing and concern and pearl-clutching amongst the commentariat,” said Senator Chris Coons, a Delaware Democrat and Biden campaign co-chair, on ABC’s This Week. “That’s great. That’s expected, frankly.”

Former House Speaker Nancy Pelosi also weighed in on CNN, stating, “Biden had a bad night. Let’s move on from that. It’s all an opportunity.”

In an effort to bolster confidence, Biden spent Sunday at Camp David with family members, a visit that had been scheduled prior to the debate.

He also engaged in a two-day campaign and fundraising swing, which included events with affluent donors in New York’s Hamptons and New Jersey.

“I understand the concern about the debate,” Biden said Saturday at a fundraiser hosted by hedge fund manager Barry Rosenstein and his wife, Lizanne, in the Hamptons. “I get it. I didn’t have a great night.”

Biden’s campaign reported on Sunday that it had raised more than $33 million since the debate, with $26 million coming from grassroots donations.

Thursday marked the campaign’s best grassroots fundraising day yet, with Friday coming in second.

Biden, 81, acknowledged after the debate that voters might have concerns about his age but remains determined to stay in the race.

Jill Biden, a significant influence in his decision to run in 2020, reinforced this resolve on Friday, saying, “We are not going to let 90 minutes define the four years that you’ve been president.”

While Biden’s debate performance has led to a temporary dip in support, his allies remain steadfast in their belief that his record and vision for the future will resonate with voters.

As the campaign continues, they are committed to showcasing Biden’s achievements and the critical differences between him and his opponent.

The CBS poll conducted June 28-29 surveyed 1,130 people and has a margin of error of plus or minus 4.2 percentage points.