In the latest developments in discussions between the Liberal Democrats and the two largest parties, Gordon Brown has announced his resignation as Labour Party leader and Prime Minister.
Gordon Brown made his statement at 5.00 pm local time in front of 10 Downing Street, London, following a meeting he had yesterday with Nick Clegg, the leader of the Liberal Democratic Party.
He stated that a strong and stable "progressive alliance" of the Labour and Liberal parties would be in the best interest of the country and made his resignation as a means to forward this, saying that he would set in motion the process needed for a new leader of the Labour Party to be selected and that a new leader will be in place in the autumn by the time of the next Labour Party Conference.
However, unlike a Conservative-Liberal alliance, a Labour-Liberal one would not command a majority in Parliament.  For the "progressive alliance" to have its majority, it would therefore need to bring in MPs from the smaller parties, something that both the Scottish National Party and Plaid Cymru have stated they would be amenable to.
The current move follows the return of a hung parliament in the United Kingdom general election on Thursday. The Liberal Democratic Party, who hold the balance of power, have been in negotiations with the Conservative Party.

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UK elections: Gordon Brown offers resignation to secure Labour-Liberal coalition