The Labour Party has won a majority of 174 seats (with one seat left to be counted) at the General Election and will now form the next government of the UK.

Rishi Sunak’s Conservatives lost 250 seats overnight, including former Prime Minister Liz Truss’s seat, and this morning he addressed the nation for the final time outside Downing Street.

Winning this election was always going to be a hugely difficult task for Rishi Sunak, with incumbents globally struggling with the economic impacts of Covid-19 and the Russia-Ukraine war. Memories of Liz Truss’ short tenure as well as the chaos of the May and Johnson years also proved difficult to overcome on the doorstep. The Conservatives trailed Labour by 20+ points throughout a campaign that was stricken with gaffes, most notably, Sunak’s absence from the D-Day anniversary.

Sunak will announce his resignation as Conservative Party leader once formal arrangements for a successor have taken place. It is likely that the process will begin next week, with the election of the 1922 committee, which will then manage the leadership contest.

Overall, Labour won 412 seats (+211), Conservatives were at 121 seats (-250), Lib Dems at 71 (+63), SNP at 9 (-38), Sinn Fein at 7 (unchanged) and other parties were at 29 (+15). At the time of writing, two seats are yet to declare.

The below document outlines the key takeaways from the election following Keir Starmer’s first speech as PM.

Read the General Election Results Bulletin here