"I am sad to be giving up the best job in the world," Boris Johnson resigns as Tory leader

London: UK prime minister Boris Johnson resigned as leader of the Conservative Party on Thursday after the mass resignation of nearly 50 lawmakers in his government.

As per a PTI report, Johnson, 58, said he will remain in charge at 10 Downing Street until the process of electing a new leader is completed – expected by the time of the Conservative Party conference scheduled for October.

Addressing the media and the public, Johnson said, "It is clearly now the will of the parliamentary Conservative Party that there should be a new leader of that party and therefore a new Prime Minister."

"I want you to know how sad I am to be giving up the best job in the world," Johnson added.

He blamed the "herd insitinct" of his party as he delivered his resignation speech on the doorstep of 10 Downing Street.

The outgoing leader reiterated he had been given an "incredible mandate" at the 2019 general election, which was "the reason I have fought so hard in the last few days to continue to deliver that mandate in person".

"I felt it was my job, my duty, my obligation to you to continue to do what we promised in 2019," he said.

Referring to the high drama of the last few days, Johnson said he had tried to persuade his colleagues that it would be "eccentric" to change governments with such a "vast mandate" and when the Tories are only a "handful of points" behind in the polls and when the economic scene is so difficult domestically and internationally.

The move came after days of high drama and a steady stream of resignations from his Cabinet since Tuesday and just minutes after his newly appointed Chancellor to replace Rishi Sunak wrote a public letter calling for him to "go now".

Nadhim Zahawi, the Iraqi-origin minister seen as a frontrunner to replace Johnson in 10 Downing Street, wrote a damning letter that openly questioned his boss' authority and demanded his exit. While not officially resigning from his new Cabinet post, the 55-year-old minister said the time was up for Boris Johnson.

"Prime minister, you know in your heart what the right thing to do is, and go now," he signs off.

This also comes in the wake of the party gate scandal of COVID law-breaking parties in Downing Street, which had resulted in a no-confidence vote last month which Johnson just about survived.

His resignation will now trigger a fierce leadership battle within the Conservative Party. The 1922 Committee is responsible for setting the timetable for a Tory leadership contest. To take part in the race, a Tory MP has to be nominated by eight colleagues. If more than two MPs put themselves forward and secure enough nominations to run for leader, a series of secret ballots are held to whittle them down.