British Prime Minister Gordon Brown emerged from 10 Downing Street a few minutes ago, and announced that he is headed to Buckingham Palace to tender his resignation to The Queen. Contrary to his statement yesterday of his intent to eventually resign as leader of the Labour Party, this resignation will take effect immediately.
He is changing his plan regarding his role as leader of the party. Brown will also resign that position effective immediately.
Conservative and Liberal Democrat leaders have been reported to still be engaged in a marathon meeting to hammer out the final details of their coalition government.
I assume that Brown's statement means that those talks are completed. David Cameron, who will be prime minister in the coalition government, will need to follow closely on the heels of Brown to the Palace, because any delay would leave Britain without a prime minister.