Sir Keir Starmer has asked Labour’s governing body to set out a timetable to replace him, beginning on July 9, and ending by the summer recess to “ensure a new leader is in place before Parliament returns in September”.

He said nominations would open on July 9, the day after he is expected to return from a Nato summit in Turkey.

The race will close to the start of the summer recess on July 16.

This is several days before the EU summit on 22 July.

Sir Keir said he would ask Labour’s ruling National Executive Committee (NEC) to set out a timetable that would see a new leader in place by the time Parliament returns from its summer recess on September 1.

The Prime Minister's decision to stand down means Labour will now hold a contest to choose his successor, with Andy Burnham seen as the frontrunner.

The former Greater Manchester mayor is expected to arrive in Westminster to be sworn in as an MP on Monday afternoon after winning the Makerfield by-election.

Former health secretary Wes Streeting is also expected to put himself forward as a candidate.

In a statement outside 10 Downing Street, Sir Keir said his party had asked “whether I am best placed to lead us into the next general election”.

He said: “I have heard the answer of my parliamentary party to that question, and I accept that answer with good grace.”

Defending his record, he pledged to give his successor “my full and unequivocal support, knowing that they will inherit a Britain that is far stronger and fairer than the one I inherited two years ago”.

With a wavering voice, he added: “When I leave the biggest job in the country, I shall spend more time on the most important job, being the best husband I can to my fantastic wife, Vic, who has been a rock by my side through good times and bad, and being the best dad I can to my beautiful children, who are my pride and joy.”

Sir Keir’s emotional statement followed a weekend spent mulling his future with his family at Chequers, the Prime Minister’s country residence.