Gordon Brown resigns as Labour Leader

Gordon Brown has resigned as Labour leader. After addressing the nation from the steps of 10 Downing Street, he has said that he will resign as party leader, but stay as caretaker Prime Minister until such a time as a new Labour leader is elected, or if the Conservatives and Liberal Democrats form a coalition.

The Prime Minister's party came a poor second with just 258 seats in Thursday's general election, with the Tories on 308. The Lib Dems came third with 57 seats. The Liberal Democrats have the choice of either joining the Conservatives to form a majority coalition government, or joing with the Labour party and other parties in Parliament to form a working majority government.

On other news about the election, the Queen has arrived back in Buckingham Palace. She is the only person who can accept the resignation of a PM and also the only person to ask someone to become a Prime Minister. Her Majesty has kept a dignified silence in the crisis that the Hung Parliament has caused, but she does have some certain constitutional powers to ascert if things get too bad.