Boris Johnson has promised to deliver Brexit and repay the trust of voters after he led the Conservatives to an “historic” general election win.
The PM, who has met the Queen to ask to form a new government, has a majority of 80 in the House of Commons – the party’s largest since 1987.
He said he would work “flat out” and lead a “people’s government”.
Jeremy Corbyn said he would not fight another election as Labour leader, amid recriminations over the party’s defeat.
He said he was “very sad” about the result, adding that he had received “more personal abuse” from the media during the campaign than any previous prime ministerial candidate.
Labour was swept aside by the Conservatives in its traditional heartlands in the Midlands and north-eastern England, and lost six seats in Wales.
The Conservatives’ victory in the 650th and final contest of the election – the seat of St Ives, in Cornwall – took their total number of MPs up to 365 MPs. Labour finished on 203, the SNP 48, Liberal Democrats 11 and the DUP eight.
Sinn Fein has seven MPs, Plaid Cymru four and the SDLP has two. The Green Party and Alliance Party have one each.
The Brexit Party – which triumphed in the summer’s European Parliament elections – failed to win any Westminster seats.
The Conservative Party’s Commons majority is its largest since Margaret Thatcher won a third term in 1987.
Mr Johnson has returned to Downing Street, having visited Buckingham Palace, and is expected to make a statement outside Number 10 this afternoon.