Sunak says the country is "now stronger" and goes on to reference the Windsor Framework post-Brexit trade arrangement and the restoration of devolved government in Northern Ireland.

He adds he is proud of his achievements and says he believes the UK is "more prosperous, fairer and resilient than in 2010".

Sunak says now that the most important task he had when becoming PM was to restore stability to the economy.

He says inflation has returned to target level, mortgage rates are falling and growth has returned.

Sunak says he will resign as Tory leader. But he says he will not do so immediately - only when formal arrangements for a successor have taken place.

"It is important that, after 14 years in government, the Conservative party rebuilds, but also that it takes up its crucial role in opposition professionally and effectively."

"I have heard your anger, disappointment and I take responsibility for this loss," Sunak continues.

He thanks all Tory candidates and campaigners for their efforts and says he is "pained" by how many colleagues will no longer sit in the House of Commons.

More now from Sunak.

He says he has given this job his all, but that the public has sent a clear signal that the government must change.

"To the country I would like to say first and foremost, I am sorry.

"I have given this job my all, but you have sent a clear signal that the government of the United Kingdom must change, and yours is the only judgement that matters."

He apologises to candidates and campaigners who have "worked tirelessly", saying his party has not delivered.

Sunak starts his speech outside No 10 by saying he will soon see the King to formally resign as prime minister.

The outgoing PM has just made his awaited appearance.

Stick with us for his final Downing Street speech, we'll bring you all the key lines.

The PM's residence will soon have a new occupant - Sir Keir Starmer.

Nathan Williams
Live page editor

We're about to hear Sunak's final address outside No 10... he just hasn't appeared yet.

There also appears to be a man with an umbrella, presumably to help out should the heavens open up once more.

As a reminder, you can follow along by pressing watch live at the top of this page.

Chris Mason
Political editor

The lectern is put out in Downing Street.

It’ll be a busy morning for that lectern.

And inside I can hear applause — as Rishi Sunak thanks staff and prepares to leave.

The lectern is officially out, which we take to mean that the Sunak address is imminent.

We're now watching a live feed of the famous door of 10 Downing Street. We expect Rishi Sunak to appear outside soon, having this morning journeyed back down south from his constituency in Yorkshire.

As a reminder, he is still officially the PM for now, though he will soon tender his resignation to the King.

You can watch live, too, by pressing Watch live at the top of the page.

Nick Eardley
Political correspondent

Image source, Reuters

Larry the cat has been wandering around Downing Street this morning. He’ll be on to his sixth prime minister later today.

Remember, he stays in No 10.

Looking at two particular areas, Swinney says the SNP needs to "build on trust" and to "deliver policy commitments which change the lives of individuals".

"We must work hard to engage with the public go engage trust and confidence," Swinney continues.

The first minister says the second area of focus is on Scottish independence.

"I have to accept we failed to convince people the urgency of independence in this election campaign," Swinney says

"Therefore we need to take the time to consider and reflect on how we deliver our commitment to independence which remains absolute."

Up in Edinburgh, Scottish First Minister and SNP leader John Swinney has been speaking after the party lost more than 30 seats.

Firstly Swinney congratulates Sir Keir Starmer on his election victory but goes onto say he is saddened to have lost so many SNP candidates.

"This tough night adds to what has been a difficult period for the SNP," he acknowledges.

Swinney says he came into office "to fix that period" and he plans to continue in his role.

Another narrow Labour victory - Neil Duncan-Jordan has taken the seat of Poole from the Tories overturning a majority of 18,608.

After a number of recounts, it has been declared Duncan-Jordan won the seat by just 18 votes.

We have three more constituencies left to declare - two in Scotland and one in Essex.

Stav Danaos
BBC Weather

Rishi Sunak is due to speak in Downing Street in just over 30 minutes. So will it be reminiscent of the rain-soaked moment he called the election in May? Our colleagues at BBC Weather assess the situation:

Conditions across the London area will remain mostly cloudy and damp today with light or drizzly rain on and off.

There’s a chance it could brighten up around lunchtime and into the afternoon but still with the chance of a shower.

James FitzGerald
Live reporter

Image source, PA Media

Let's have a go at summarising the breathless last several hours:

Landslide: With almost all votes now in, Labour has won more than 400 seats. That figure rivals the avalanche achieved in 1997 when Tony Blair swept to power for Labour. Speaking in the early hours of the morning, beaming prime minister-elect Sir Keir Starmer said: "Change begins now"

Ejections: Numerous senior Tories have lost their seats - among them Liz Truss, who was prime minister less than two years ago. Jeremy Hunt, the outgoing chancellor, hung on - but has now left Downing Street. The SNP has taken a hammering in Scotland, described by one ex-MP as "cataclysmic"

Recriminations: The Conservative blame-game has begun as the party looks ahead to a stint on the opposition benches. Former leader Iain Duncan Smith, who narrowly held his seat, said his party had "lost touch" with voters, while Robert Buckland, the former justice secretary, blamed in-fighting

Gaza: Independent candidates running on pro-Palestinian platforms have slightly dented the massive Labour majority, including its former long-term MP and leader Jeremy Corbyn, who triumphed in Islington North. And, in one of the surprise results of the evening, shadow paymaster general Jonathan Ashworth lost his Leicester South seat to Shockat Adam, who said the main parties' approach to Gaza was an issue

Swings: The Lib Dems have achieved a huge improvement on 2019, winning more than 70 seats - a result they call their best for a century. But the SNP have been trounced after years of dominance in Scotland, winning just eight seats compared with 48 last time

Breakthroughs: At the eighth time of asking, Nigel Farage has bagged a place in Westminster as Reform UK bagged four seats - a figure that's been matched by the Greens

Image source, Presidency of the Republic

French President Emmanuel Macron has joined other world leaders in commending Sir Keir Starmer for his win.

Macron wrote on X, external: "We will continue the work begun with the UK for our bilateral cooperation, for peace and security in Europe, for the climate and for AI."

His words echo those of other prominent global figures:

• Ukrainian President Volodymyr Zelensky voiced hope that he and Starmer would remain "reliable allies"
• Israeli President Isaac Herzog said he hoped the two nations would strengthen their "close friendship", as Israel pursues its own war in Gaza
• European Commission President Ursula von der Leyen expressed her wish for a "constructive partnership" with Starmer, who has ruled out rejoining the EU
• Australian Prime Minister Anthony Albanese and Canadian PM Justin Trudeau both sent congratulatory messages to their "friend"

Ione Wells
Political correspondent

Image source, Pool

Ukraine’s president Volodymyr Zelensky congratulates Keir Starmer and Labour on “their convincing election victory", saying his country and the UK will continue to be reliable allies.

But he also praised outgoing Prime Minister Rishi Sunak, saying he was “grateful” to his “good friend” for the UK’s “steadfast support” under his leadership.

Support for Ukraine will be one of the major foreign policy priorities for the next government.

Starmer met Zelensky at the D-day commemorations in Normandy in June. A photograph of the pair greeting each other would later haunt Sunak, who left the anniversary event early in a move that was heavily criticised.

We've just seen Jeremy Hunt stepping out of his 11 Downing Street home for the final time since learning the Conservatives lost the election.

He's joined by his family and their dog.

Hunt did, at least, defend his Surrey seat following a hard-fought campaign - unlike cabinet colleagues who lost their own votes.

He's expected to be replaced by his opposite number, Labour's Rachel Reeves, who would be the UK's first ever female chancellor.