Jeremy Corbyn takes aim at the media again - over its conduct during the campaign. He goes on to say Labour has changed over the course of the campaign, and has grown "enormously". In a message to new members,he says: "Welcome to our party, welcome to our movement". And to those "returning", he adds: "Welcome home." 

He adds:

Chuka Umunna, Rachel Reeves, Emma Reynolds and other shadow ministers look on as Jeremy Corbyn speaks. How many of them will serve under him?

Jeremy Corbyn's thanks continue... to his campaign team and then the 35 MPs who nominated him to get on the ballot. He says that while not all of them agreed with his policies, they did so "in the spirit of inclusion and democracy" and "I look forward to working with them".  He also thanks the unions for their endorsement of his candidacy. He says he understands the importance of unions at the workplace before criticising government attempts to "shackle" them. MPs will debate the government's bill to tighten up strike laws, on Monday.

Jeremy Corbyn pays warm and generous tributes to his defeated rivals, praising Yvette Cooper in particular for changing public opinion on the refugee crisis. 

John Pienaar
Pienaar’s Politics

For Jeremy Corbyn to secure 59.5% of the vote is extraordinary. There were hopes among his rivals that they might hold his majority down. The spearhead of the charge came from the £3 supporters.

Jeremy Corbyn pays tribute to Harriet Harman and thanks her "for all that you have done". He goes on to congratulate Tom Watson for his election as deputy leader, and thanks Ed Miliband for his work as leader of the Labour Party. He had a very long conversation with him a couple of days ago, he reveals. Mr Corbyn says Mr Miliband stood up to the "abuse he received by much of our media" - which is met with applause in the audience. Mr Corbyn extends this thanks to  his rival candidates saying it has been a "fascinating experience for all of us".

Jeremy Corbyn begins by thanking everyone who took part in "this huge democratic exercise" which he says has shown Labour to be "passionate, democratic, diverse, united and determined in our quest for a decent and better society".

Rapturous applause as Jeremy Corbyn's victory is announced. 

Jeremy Corbyn takes to the stage to loud cheers and applause - and hugs party members, including his campaign manager, John McDonnell, on the way. Needless to say he's mobbed by photographers eager to get a good shot. Supporters can be heard chanting "Jez we did."

James Landale
Deputy political editor

Labour has elected its most left wing, most rebellious and most inexperienced leader in its history. And few in the party appear certain of what will happen next. Will Labour plunge into civil war as moderates refuse to stand in Jeremy Corbyn's shadow cabinet and leftists organise to deselect Blairite MPs? Or will the mild mannered Mr Corbyn surprise by reaching out to middle england with the promise of a different kind of politics that appeals in an era of anti-politics?

Will the Conservatives attack or ignore Mr Corbyn and occupy even more of the political centre ground as Labour shifts left? Will Mr Corbyn's anti-war stance have an impact on the government's thinking on airstrikes over Syria? Will his euroscepticism make Britain leaving the EU more likely? And above all, will Mr Corbyn make Labour as unelectable as many of his MPs assume or provoke a long-repressed debate that renews the party for a new generation?

BBC Radio 5 Live

Yvette Cooper supporter Seema Malhotra tells BBC Radio 5 Live: "I'm just incredibly proud of the campaign we've run. This leadership race was always going to test our beliefs and the direction of the Labour party. We're going to see the Labour party move forward into its new chapter."

Jeremy Corbyn won with 59.5% of the vote in the first round.

The other candidates scored as follows:

• Andy Burnham - 19%
• Yvette Cooper - 17%

• Liz Kendall - 4.5%

Jeremy Corbyn embraces Yvette Cooper after his sensational victory. 

Jeremy Corbyn has been elected as the new leader of the Labour Party. He won the contest in the first round of voting, with 251,417 votes. The turnout was 422,664.