Keir Starmer has announced he will resign as the leader of the Labour Party, bringing to a close a premiership which has lasted less than two years.The Prime Minister bowed to pressure from within his own party and agreed to stand down. He said he would do all he could to ensure an “orderly” transition of power after announcing his decision to quit.Accompanied by his wife Victoria, he made a statement on the steps of Downing Street, saying he would remain in place as Prime Minister until a contest to replace him had concluded. He has asked Labour’s governing body to set out a timetable to replace him, beginning on July 9, and ending by the summer recess to “ensure a new leader is in place before Parliament returns in September”.His most likely replacement, Andy Burnham, will be sworn in as an MP later today after winning a by-election last week. Former health secretary Wes Streeting is also expected to put himself forward as a candidate.Mr Starmer's premiership has been plagued by policy missteps and dire approval ratings, culminating in a thumping defeat in local elections in May which spurred almost a quarter of his MPs to say he should stand down.His impending departure means Britain will have its seventh Prime Minister in a decade. Since the Brexit vote to leave the European Union 10 years ago this week, the UK has been led by Tories David Cameron, Theresa May, Boris Johnson, Liz Truss and Rishi Sunak, before Mr Starmer's landslide victory in 2024.Mr Starmer's emotional statement followed a weekend spent mulling his future with his family at Chequers, the Prime Minister’s country residence.Prime Minister Keir Starmer and his wife Victoria Starmer outside 10 Downing Street, after his resignation speech. PAInfoMinisterial allies and Number 10 staff gathered in Downing Street shortly before 9.30am in an indication Mr Starmer was about to announce he was due to bring a close on his time in Downing Street.Announcing his resignation, Mr Starmer said: “The question my party is asking now is whether I am best placed to lead us into the next general election.“I have heard the answer of my parliamentary party to that question, and I accept that answer with good grace.“Every decision I have taken has been about putting the country I love first.“That is why I will resign as leader of the Labour Party.”Mr Starmer said that becoming Prime Minister was the “proudest moment of my life”.He said: “Walking up this street two years ago was the proudest moment of my life, a new Labour government, the first in 14 years, a page in our country’s history turned after years of disappointment and despair, the chance to change the lives of millions of people for the better, that’s what I came into politics for the journey to that point was not easy.“Six years ago, I inherited a Labour Party that was politically, financially, and morally bankrupt.“I was told time and time again that my party was finished, that we were consigned to history, that a majority at the general election, let alone a landslide majority, was impossible, but we proved those people wrong, because we changed our party, ripping out the poison of antisemitism, restoring trust on the economy, defence, and national security, and becoming a party that once again stood proudly with, not against, our national flag.”Mr Starmer appeared to become emotional as he thanked his wife Victoria for her support at the end of his speech.Holding back tears, Mr Starmer said he will spend more time being the “best husband” and “best dad” after his resignation.They both stood before the door of No 10 before returning inside, to loud applause and cheers from team gathered outside.Reform UK leader Nigel Farage called for a general election following Mr Starmer’s announcement.He said: “Reform demands an election, and we are ready to deliver radical change.“If Labour thinks it can shove another professional politician into No 10, it has another thing coming.”Liberal Democrat Leader Sir Ed Davey said Sir Keir Starmer’s replacement would have to change “our broken politics”.This is a developing story