Campbell quits as Lib Dem leader

Updated on 15 October 2007

Sir Menzies Campbell stands down as leader of the Liberal Democrat party "with immediate effect".

Party President Simon Hughes said in a statement: "Ming Campbell has this evening submitted his resignation as the Leader of the Liberal Democrats with immediate effect.

"Over the past two years, Ming has given stability and purpose to our Party. He has hugely professionalised the working of our Party and led its very successful preparations for the next general election.

"Ming has made this decision - as all his political decisions - in the interest of his Party and Liberal Democracy throughout Britain. Every Liberal Democrat owes Ming a huge debt of gratitude.

'Ming Campbell has this evening submitted his resignation as the Leader of the Liberal Democrats with immediate effect'

Simon Hughes, party president

Vince Cable stands in

"Vince Cable, our deputy leader will take over as party leader until a new leader is elected according to our rules.

"The detailed election timetable will be announced tomorrow."

Acting leader of the party and Sir Menzies' deputy Vince Cable said: "During his time as Leader, Ming has earned the respect, affection and gratitude of the party.

"This was reflected in the warmth with which his speech was received by the party conference three weeks ago.

"The key message of that speech was that the Liberal Democrats are the only party with the distinctive, positive vision of a fairer and greener Britain.

"Throughout his political life Ming has campaigned for liberal values and social justice and we will ensure that we build on that legacy."

A statement from Sir Menzies was expected after his party slumped to 11 per cent support in the polls, prompting widespread discontent among MPs.

The decision by Prime Minister Gordon Brown not to call a snap election is believed to have been a determining factor in the party's MPs deciding to ditch Sir Menzies.

Earlier today the party's deputy leader, Vince Cable, admitted the leader's future was "under discussion".