Gordon Brown has announced his resignation as Prime Minister with immediate effect.
He said he had notified the Queen's private secretary that he was advising that she should appoint David Cameron as the new premier.
Addressing a bank of cameras and journalists, Mr Brown was joined by his wife Sarah as he spoke, his voice crackling with emotion.
He spoke of the challenges facing the person in the top job but also said it was a "privilege to serve" the nation.
He also said would "always admire the courage of our armed forces".
His final words to onlookers were "thankyou and goodbye".
In a break from tradition Mr Brown and Sarah brought out their two children, John and Fraser, and allowed them to be photographed.
They left Downing Street for Buckingham Palace.
Conservatives won the most seats and votes in last Thursday's election, beating Brown's ruling Labour party into second with the Liberal Democrats a distant third.