Led by Keir Starmer, the Labour Party has crossed the majority mark of 326 in the 650-member House of Commons. Rishi Sunak’s party has managed to win just 60 seats yet.

Conceding defeat, Rishi Sunak said, “Today, power will change hands in a peaceful and orderly manner, with goodwill on all sides. That is something that should give us all confidence in our country’s stability and future,” Rishi Sunak said while addressing his supporters in Richmond and Northern Allerton. “I am sorry. I take responsibility for the loss,” he added.

Keir Starmer will be appointed the Prime Minister later today. “Tonight people here and around the country have spoken, and they’re ready for change,” he said. “The change begins right here.”

The official election exit poll had predicted Labour will win 410 seats, the most since Tony Blair’s 1997 landslide victory, with a projected majority of 170. In the last six UK elections, only one exit poll has got the outcome wrong.

In May, Rishi Sunak stunned many in his own party by calling the election earlier than he needed to with the Conservatives trailing Labour by some 20 points in opinion polls.

He had hoped the gap would narrow, as typically seen in British elections, but the deficit persisted through what is seen as a largely unsuccessful campaign.

Keir Starmer, the son of a toolmaker and a nurse, has promised “a decade of national renewal” after post-financial crash austerity measures, Brexit upheaval and a cost-of-living crisis.

But, he faces significant challenges ahead, including sluggish economic growth, strained and underfunded public services due to extensive cuts over the past fourteen years, and financial pressures on households.

For Sunak, the early trends suggest a defeat that has been on the cards for months. He has said he will stay on as an MP even if he’s removed or steps down as Tory leader — though some polls predict he may not keep his seat.

With inputs from NDTV