What the prime minister should have said: A statesman's statement

"Good afternoon.

I am proud to have been part of a Labour Government these past thirteen years.

The country is a better place than when we arrived here in Downing Street in May 1997. Britain today is undoubtedly a fairer, safer, healthier, more prosperous and a more tolerant society than it was then.

Devolution has allowed Scotland and Wales to determine what is right for them, and strengthened the bonds of our United Kingdom. It has defeated the narrow nationalists who cannot see these nations are stronger together than they would be apart.

The National Minimum Wage has ended what amounted to slave labour.

Tax credits help those on low incomes and working families to reap the rewards of their hard work.

Free nursery places for 3 to 5 year olds ensure no child is left behind before they even start school.

We have ended the right of hereditary peers to sit in Parliament.

We have extended statutory maternity pay and paternity leave.

We have given the elderly free tv licenses, and our winter fuel allowance ensures our senior citizens need never worry about keeping warm in their homes.

We have created civil unions, given legal recognition and equality to all families whatever their make-up. We have ended state discrimination against people based on their sexual orientation.

With partners across these islands, we have achieved peace in Northern Ireland.

We sought a historic fourth term to further these achievements, and to tackle those issues which must still be addressed. We believe we offered the best government for Britain. The results are now in and the new Parliament is hung. The people have not endorsed either party’s platform. The next government has no automatic right to get its way. Consensus must be sought.

Some in my party have said with no outright winner we should attempt to form a progressive alliance to keep the Tories out.

But the people have spoken, their intent is clear. With more seats and more votes, we must accept that the British people have chosen to give the Conservatives a chance to form an administration.

We must remember that governments come and go, that the honourable duties of loyal opposition are infinitely better than clinging to power as a dishonourable government.

In ordinary times seeking to hang on would be foolish. To do so in a time of economic uncertainty, in a time of war when our troops risk their lives for democracy, would be a betrayal of those we serve. We owe it to the British people to put the national interest before that of our party.

Serving as their Prime Minister and Chancellor has been a tremendous honour. I am eternally grateful for having been given the opportunity to serve our wonderful nation. I am privileged to continue to do so as a representative in parliament, holding the new Government to account.

If you will excuse me, Her Majesty has kindly granted me an audience."