Tony Blair has announced he will resign as Prime Minister on June 27, saying ten years is "long enough" in a speech at his Sedgefield constituency.
It is the first move in the political process likely to see Chancellor Gordon Brown entering Number 10 in seven weeks time.
Mr Blair informed his Cabinet team of his resignation before flying to County Durham where he arrived to throngs of supporters at Trimdon Labour Club with wife Cherie.
In an emotional speech he said: "On the 27th of June I will tender my resignation from the post of Prime Minister to the Queen."
He added: "I have been Prime Minister of this country for just over ten years. In this job, in the world today, I think that is long enough for me, but more especially for the country."
He hinted that the issue of Iraq had come to dominate the last few years of his leadership and said: "I tell you one thing: hand on heart, I did what I thought was right."
"I may have been wrong, that's your call. But believe one thing, if nothing else I did what I thought was right for our country."
He conceded that expectations when Labour gloriously swept to power in 1997 were "so high, too high probably, too high".
He added: "And now, in 2007, you can easily point to the challenges or the things that are wrong or the grievances that fester."
But he asked the audience to "go back to 1997, think back - no really think back. Think about your own living standards then in 1997 and now".
To massive applause, he boasted: "There is only one government since 1945 that can say all of the following: more jobs; fewer unemployed; better health and education results; lower crime; and economic growth in every quarter.
"Only one government - this one."
He concluded: "I give my thanks to you, the British people for the times that I have succeeded and my apologies for the times I have fallen short. But good luck."
Just moments after Mr Blair finished speaking John Prescott formally announced his intention to stand down as Deputy Leader of the Labour Party in an open letter to his constituency party.
It said: "Tony and I were elected together back in 1994 and it has been an honour to serve as Deputy to the most successful Labour Prime Minister ever.
"To have been Deputy Leader and the longest-serving Deputy Prime Minister is a matter of great pride to me."
Source: Virgin Media
It is the first move in the political process likely to see Chancellor Gordon Brown entering Number 10 in seven weeks time.
Mr Blair informed his Cabinet team of his resignation before flying to County Durham where he arrived to throngs of supporters at Trimdon Labour Club with wife Cherie.
In an emotional speech he said: "On the 27th of June I will tender my resignation from the post of Prime Minister to the Queen."
He added: "I have been Prime Minister of this country for just over ten years. In this job, in the world today, I think that is long enough for me, but more especially for the country."
He hinted that the issue of Iraq had come to dominate the last few years of his leadership and said: "I tell you one thing: hand on heart, I did what I thought was right."
"I may have been wrong, that's your call. But believe one thing, if nothing else I did what I thought was right for our country."
He conceded that expectations when Labour gloriously swept to power in 1997 were "so high, too high probably, too high".
He added: "And now, in 2007, you can easily point to the challenges or the things that are wrong or the grievances that fester."
But he asked the audience to "go back to 1997, think back - no really think back. Think about your own living standards then in 1997 and now".
To massive applause, he boasted: "There is only one government since 1945 that can say all of the following: more jobs; fewer unemployed; better health and education results; lower crime; and economic growth in every quarter.
"Only one government - this one."
He concluded: "I give my thanks to you, the British people for the times that I have succeeded and my apologies for the times I have fallen short. But good luck."
Just moments after Mr Blair finished speaking John Prescott formally announced his intention to stand down as Deputy Leader of the Labour Party in an open letter to his constituency party.
It said: "Tony and I were elected together back in 1994 and it has been an honour to serve as Deputy to the most successful Labour Prime Minister ever.
"To have been Deputy Leader and the longest-serving Deputy Prime Minister is a matter of great pride to me."
Source: Virgin Media