Brown resigns

Gordon Brown, 59, has resigned as both prime minister and leader of the Labour Party less than one week after general elections that ended with a hung parliament.

In front of number 10 Downing Street, London, he announced his resignation. He then met with Queen Elizabeth II at Buckingham Palace who accepted his resignation as prime minister. This officially ended the Labour Party's 13-year hold on power.

Brown told reporters outside his Downing Street office, that " I shall advise the Queen to invite the leader of the opposition to seek to form a government. I wish the next prime minister well as he makes the important choices for the future."

Awaiting confirmation of a power deal

The leader of the opposition Conservative Party, David Cameron is set to take office. Cameron earlier held power-sharing talks with Nick Clegg, the leader of the third-placed Liberal Democrats. The Conservatives made an attractive offer of a coalition and a referendum on electoral reform, a key party platform for the Liberal Democrats.

Officials from both parties declined to say whether a power-sharing deal had been agreed.

"We have completed our discussions in a good atmosphere and are now returning to report back to Nick Clegg and our parliamentary colleagues," Liberal Democrat negotiator Danny Alexander told reporters.

The Conservatives won the most seats - 306 - and votes in last Thursday's election. Brown's ruling Labour party was beaten into second place with 258 seats, while the Liberal Democrats came a distant third with 57 seats. Smaller parties won 28 seats between them.

Brown became prime minister in June 2007 after Tony Blair stepped down after 10 years in power and securing three straight general election victories.

wl/rtre/ap
Editor: Chuck Penfold