The question my party is asking now is whether I am best placed to lead us into the next general election.I have heard the answer of my parliamentary party to that question and I accept that answer with good grace.Every decision I've taken has been about putting the country I love first.That is why I will resign as leader of the Labour Party.I have spoken to His Majesty the King this morning to inform him of my decision.I will ask the National Executive Committee of the Labour Party to set out a timetable with nominations opening on the 9th of July and completed by the summer recess.
In the case of a contest, this will ensure a new leader is in place before Parliament returns in September.I will remain in post as Prime Minister until the contest is complete and I will do everything I can to ensure an orderly handover of power.
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