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The Tories win their biggest majority since the 1980s, as Jeremy Corbyn says he will not lead Labour into the next election, and Lib Dem leader Jo Swinson loses her seat.
The Labour leader's decision comes as the party faces its worst election performance since 1935.
Ms Swinson says millions of people around the country will feel "dread and dismay" at the results.
The prime minister says a series of gains in Labour heartlands gives his government a "powerful mandate".
Sterling surges 2.7% to its highest level since May last year on hopes the result will ease Brexit uncertainty.