Watch: Rishi Sunak announces resignation as Conservative Party leader

Sunak announced that his resignation is not immediate and he will formally step down once a new party leader is chosen

Following the UK general elections and a Labour Party landslide victory which saw the Conservative Party lose more than half of their seats at Westminster, Rishi Sunak has announced that he will resign as Tory Party leader.

He announced that his resignation is not immediate and he will formally step down once a new party leader is chosen.