Rishi Sunak announced his resignation as leader of the Conservative Party on Friday, apologizing to the public after the electoral defeat he suffered in the British parliamentary elections and the return of the Labour Party to power.

He said before leaving the Prime Minister's office: "I am sorry" before heading to meet King Charles III to submit his resignation.

He confirmed: "I have received your anger and disappointment, and I take responsibility."

Sunak also went to Buckingham Palace to resign from the position of Prime Minister of Britain after the historic defeat of the Conservative Party.

ITV reported that the Labour opposition party in Britain won as many as 326 seats in the parliamentary elections, meaning it now has a majority in the House of Commons, which consists of 650 seats.

This result opens the door wide for the Labour Party to form the next government, while it represents a crushing defeat for the Conservatives, whose share has shrunk from 365 MPs elected 5 years ago to only 131 MPs now.