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Exit polls have indicated that May's ruling Conservative Party will lose their overall majority in Parliament.
"The Prime Minister called this election because she wanted a mandate. The mandate she's got is lost votes, lost Conservatives seats, lost votes, lost support and lost confidence," said Corbyn, who held his seat after winning more than 73 per cent of the vote in his constituency."I would have thought that's enough to go, actually, and make way for a government that will be truly representative of all the people of this country."
"Politics has changed."Politics is not going back into the box where it was before."What's happened is people have said they have had quite enough of austerity politics, they have had quite enough of cuts in public expenditure, underfunding our health service, underfunding our schools and our education service and not giving our young people the chance they deserve in our society," Independent quoted Corbyn as saying.
Corbyn sought May's resignation after he received a massive personal vote of 40,086 in his constituency of Islington.
Labour Party leader said he was humbled by the large vote he has received after being elected for the ninth time.
He spoke about his gratitude to his family and friends.
The pound also fell sharply in value. He added: "In the new parliament we will do everything we can to ensure that everything we have said in this campaign and everything that is included in our manifesto is put before parliament so that this country can be a different, and I believe, fundamentally better place."
A Shorty time later Theresa May was elected in Maidenhead and in a short victory speech vowed to act to ensure "a period of stability".
She said that it looks like the Conservative party will be the largest party and it will be "incumbent on us to provide that stability".