Rishi Sunak has held his seat in Richmond and Northallerton, winning 23,059 votes, but in his speech the Prime Minister conceded the General Election to Sir Keir Starmer.
Looking stony faced at the count, he said it had been a “difficult night” and that the Labour party had won the General Election.
Admitting that Labour had won the election, Sunak said the British people had delivered a “sobering verdict” on his party.
The PM said he took “responsibility” for his party’s loss, had called Sir Keir Starmer to congratulate him on his victory and would say more later in London.
Rishi Sunak, his wife and their security and entourage left the election count as soon as he had finished making a speech after the result was declared.
Other candidates continued to mill around the count hall, with some seen shaking hands with one another.
Following the result, Sunak said: “On this difficult night, I’d like to express my gratitude to the people of the Richmond and Northallerton constituency for your continued support.”
He added: “The Labour Party has won this General Election, and I’ve called Sir Keir Starmer to congratulate him on his victory.
"Today, power will change hands in a peaceful and orderly manner, with goodwill on all sides.
"That is something that should give us all confidence in our country’s stability and future.
“The British people have delivered a sobering verdict tonight, there is much to learn… and I take responsibility for the loss.
"To the many good, hard-working Conservative candidates who lost tonight, despite their tireless efforts, their local records and delivery, and their dedication to their communities. I am sorry.”
Sunak looks poised to have delivered the Tory Party's worst election result since 1906, with updated predictions pointing to a Conservative rump of 144.
A record number of Cabinet Ministers also lost seats, including Commons Leader Penny Mordaunt and Defence Secretary Grant Shapps.
However, Chancellor Jeremy Hunt clung on by a very narrow margin in Godalming & Ash.
The Tory Party seem to have been hurt by a resurgent Reform UK.
Nigel Farage managed to break his electoral hoodoo by winning Clacton, with Lee Anderson, Rupert Lowe and Richard Tice also winning.
The Liberal Democrats have also wreaked havoc across the so-called Blue Wall, with seats from Cheltenham to Newton Abbott being battered down.
Labour officially won a majority at around 5am, with Sir Keir Starmer promising to get Britain "its future back".
He added: “We did it. You campaigned for it, you fought for it, you voted for it and now it has arrived: Change begins now."
ADDITIONAL REPORTING BY JACK WALTERS
