Labour and the Liberal Democrats were quick to make clear last night that they would do their best to make David Cameron's leadership announcement an issue in the campaign - because they say ruling out a third term before having won a second says something about the man's character. It's "incredibly presumptuous", a Lib Dem spokesperson says, while Douglas Alexander - Labour's general election strategy chair - calls the PM's comments "typically arrogant". Mr Alexander adds: "In the UK it is for the British people and not the prime minister to decide who stays in power."

tweets:, external Next Tory leader, current betting: Boris 7/4, Theresa May 4/1, George Osborne 7/1, Sajid Javid 10/1, Hammond 12/1

Michael Fallon says the UK is going to "beef up" its defence of the Falkland Islands. There'll be a statement in the Commons later on that subject.

BBC Radio 4 Today

Lady Morgan says David Cameron's third-term announcement is "quite serious" because the PM has "turned his mind to leaving". It reveals quite a lot about the man, Tony Blair's ex-adviser suggests. Sean Worth, a former coalition special adviser in Downing Street, tells Today that the practicalities of preparing for a 2020 election suggest that Mr Cameron would have to resign as PM around a year beforehand.

BBC News Channel

"He gave a straight and sensible answer to the question he was asked," Defence Secretary Michael Fallon says of David Cameron's announcement. He insists the PM was clear he would serve a "full term" if elected in May.

BBC Radio 4 Today

Downing Street will be "slightly annoyed" by David Cameron's "distraction" getting on to the front pages, the PM's former special adviser Sean Worth says. "He probably should have said, 'It's not something I'm thinking about right now, I'm focusing on the election'," he tells Today. He's not so sure about the suggestion from Tony Blair's former senior adviser Sally Morgan that this will become a big theme of the campaign, though. Lady Morgan replies: "You're going to end up with a leadership election running right through the next term."

BBC Radio 4 Today

Sean Worth, former special adviser to David Cameron, tells Today that David Cameron's third-term announcement was surprising. "It did look to be a pretty honest, unplanned comment by a politician who's self-aware enough to know that people don't like you hanging around too long," he says. Lady Sally Morgan, former senior adviser to Tony Blair, says she was "staggered" because the message damages the Conservative election campaign.

Robin Brant
Political Correspondent, BBC News

The calculation the PM has made is, presumably, that he gave a straight answer to a straight question, and he thinks the voters will admire his honesty. He might also think that being clear with the public like this is the right thing to do, in and of itself.

The Daily Telegraph

Brian May wants MPs to break free - of the oppressive system of party politics, that is. The former Queen guitarist is busy launching his own campaign today: a bid to free up MPs from the party whips system. The badger cull activist is going to provide some cash to candidates he thinks are willing to act "decently, transparently and accountably" once elected - and, as the Telegraph has noted, is prepared to consider including UKIP candidates. "I wouldn't be averse to backing a UKIP guy whom we regard as a pillar of decency," he told the Telegraph, external.

Image source, PA

UKIP has one fewer MEPs this morning after it expelled Janice Atkinson and her chief of staff Christine Hewitt for "bringing the party into disrepute". Ms Atkinson says she'll be appealing the decision, which also means she is no longer the party's candidate for Michael Howard's old Westminster seat of Folkestone and Hythe. It follows the emergence of a recording in which Ms Hewitt appears to ask for an invoice for a much higher sum than the bill she had originally received. More details, including what Ms Atkinson has to say about the affair, in our story.

BBC News Channel

Mark Wallace, executive editor of Conservative Home, says the one surprising thing about David Cameron's announcement is where it fits into the wider campaign strategy. Lynton Crosby, the PM's chief election strategist, is "all about discipline, contrasting Labour chaos with Tory competence", Mr Wallace says, so it's a bit surprising to see the PM stray so far off message.

Labour's big policy announcement today comes from Ed Balls, who will use a speech in Birmingham to say his party will make a "clear pledge" not to raise VAT. The tax is a big revenue-raiser for the Treasury: its coffers have benefited greatly from the increase from 17.5% to 20% contained in George Osborne's 2010 emergency Budget. Now Labour says the Conservatives will be forced to hike the tax after the election and will hope to create a big dividing line on the issue during the campaign. "We will not raise VAT because it's the tax that hits everyone," the shadow chancellor will say. "It's the tax that hits you every day. And it hits pensioners and the poorest hardest." Here's our story.

James Landale
Deputy Political Editor, BBC News

By answering my question, Mr Cameron has potentially opened a Pandora's Box.

He has invited Westminster and the country to contemplate a time when he is no longer prime minister and that is a dangerous gamble to make so close to an election.

He did not need to tip some of his potential successors but he did. And I am not sure Theresa May, George Osborne and Boris Johnson will thank him for it.

David Cameron's comments start the gun on a lengthy leadership race, many of the papers conclude. The prime minister named a trio of senior Conservatives - Home Secretary Theresa May, Chancellor George Osborne and London Mayor Boris Johnson - as potential successors in his interview with James Landale. But yesterday evening saw Tories insisting his announcement was nothing to get excited about:

• Mr Johnson said the story was just "people making a fuss about nothing"

• Conservative chief whip Michael Gove said the PM's comments were a "statement of the bleeding obvious"

• Tory backbencher Jacob Rees-Mogg said Mr Cameron's approach was "quite refreshing"

• Tory MP Peter Bone rejected the idea the PM's remarks would overshadow the party's campaign messages. "Just the reverse - it stops you guys saying 'when are you going to quit' every time you interview him."

tweets:, external Source close to Boris tells me their ideal is for Cameron to stand down mid term so he get into no 10 without having to be opposition leader

tweets:, external Papers just arrived at Downing Street, the usual stack. He'll be reading those over two shredded wheat #ge2015

As you'd imagine the newspapers are dominated by David Cameron's announcement. There are two versions of the headline - one focusing one him ruling out a third term and the other focusing attention on what this means for the Tory leadership stakes. You can cast your eye over them here.

tweets:, external Update: Lab & Con tied - Latest YouGov / The Sun results 23rd Mar - Con 34%, Lab 34%, LD 8%, UKIP 12%, GRN 6%; APP-13 Read more., external

For those of you who stopped paying attention yesterday evening, there's been a bit of a development: David Cameron has said he will not run for a third term as prime minister - assuming he wins a second, of course. The Conservative leader told James Landale he was "not contemplating" standing at the 2020 general election - triggering an almighty amount of excitement overnight. Attention on Mr Cameron's comments is set to be a big, big story today - we'll be bringing you the latest reaction as Parliament continues its wind-up.

Here's a quick run-down on some of the big events of Monday:

• David Cameron said he wouldn't seek to serve a third term as prime minister if elected this time round - much more on that shortly

• UKIP launched its economic policy and committed to spending 2% of UK GDP on defence

• Theresa May outlined Conservative proposals for dealing with extremism, including banning certain speakers from social media

• Ed Miliband rubbished suggestions made by Alex Salmond that the SNP could play a role in writing a Labour Budget in the event of a hung parliament

• Under-fire Conservative candidate Afzal Amin insisted he would "robustly defend his position" despite calls for him to quit over allegations he schemed with the English Defence League to win votes