British Prime Minister Rishi Sunak said that people have “delivered a sobering verdict" as he conceded that the Labour Party has won the election.

He said he took “responsibility” for his party’s loss, and that he had called Labour leader Keir Starmer to congratulate him on his victory.

Voters in the U.K. cast their ballots Thursday in a national election to choose the 650 lawmakers who will sit in Parliament for the next five years.

An exit poll suggested that Labour, led by Keir Starmer is headed for a huge majority.

The exit poll results suggested that after 14 years in power under five different prime ministers, Prime Minister Rishi Sunak ’s Conservatives are set to have their seats in the 650-seat House of Commons cut down to 131. That would be the Tories’ worst result in the party’s two-century history and one that would leave the party in disarray.

The Labour Party is expected to win 410 seats, comfortably past the 326 needed for a majority.

Most of the results are expected to be announced in the early hours of Friday.

He is expected to go to see King Charles III at Buckingham Palace on Friday to officially resign. After that, Starmer is expected to be driven to the palace to get the king’s permission to form a government. AP