"Resigning as leader of the Ulster Unionist Party was one of the hardest decisions I have made. However, for the good of the party I had no choice but to step down.

"Throughout my time as the leader I have always been honest and open. I have not always got things right, but I have accepted responsibility for my failings and I expect others to do similar.

"It would simply not be credible, or right, for me to put my name forward to be re-elected as the party leader. I must accept that while a large number would like me to stay as leader there is an equal number that may not.

"Going forward, I hope that the new leader can continue to modernise the party. They must promote a moderate, inclusive, and positive pro-union message and ensure the Ulster Unionist Party is seen as a forward thinking and progressive party.

"Such a new leader will be guaranteed my full support and loyalty."