Gordon Brown is to stand down as leader of the Labour Party. The caretaker Prime Minister said he would resign by September at the latest, as soon as a successor is appointed.
He also appeared to scupper hopes of an imminent power sharing deal between the Conservatives and Liberal Democrats.
“Mr Clegg has just informed me that while
he intends to continue his dialogue that he has begun with the Conservatives, he now wishes also to take forward formal discussions with the Labour party,” Mr Brown told reporters.
It’s been a dramatic day for British politics, a day which started amid a flurry of speculation that the Tory’ s and Lib Dems were on the verge of a breakthrough.
Things began to look shakey when the Lib Dems announced they were still seeking clarification on a number of issues.
Sticking points include electoral reform, education funding and taxes.
If the two parties can’t reach an agreement on these key issues, the Lib Dems could join forces with Labour.
However they would need support from other, smaller parties to secure a parliamentary majority.
Time is running out to break the deadlock. The new government has to deliver its legislative agenda in the Queen’s speech on 25th May.