Jeremy Corbyn to resign after humiliating defeat

Jeremy Corbyn has announced that he will stand down as the leader of the Labour party after a humiliating night.

Mr Corbyn and his closest allies appeared ashen as seat after seat fell to the Tories and many Labour constituencies saw their majorities cut significantly.

Describing the outcome as ‘very disappointing’ he said he will not lead the party in any future election campaign.

He said: ‘I want to say this, I will remain the MP for Islington North and I’m proud to represent the people of Islington North.’

He said he would discuss with the party how to ensure there was a ‘process of reflection ‘. ‘I will lead the party during this period to ensure this discussion takes place.’

Mr Corbyn added: ‘And I’m proud in Parliament and outside that we will forever continue the cause for socialism, for social justice and for a society based on the needs of all rather than the greed of a few.

‘That is what makes our party what it is and I’m very proud of the achievements of our party and the development of its manifesto and its ideas. ‘I tell you what, those ideas and those principles are eternal and they will be there for all time.’ His party, which had 243 MPs when Parliament was dissolved last month, was forecast to lose 52 seats, according to a BBC/Sky/ITV exit poll, which put the Tories on 368 seats.