TONY Blair today finally announced that his ten years as Prime Minister were almost over.

Mr Blair formally told his Cabinet this morning of his plans to step down as Labour leader and Prime Minister. He then made his annoucement in a speech in his constituency party.

His public announcement on his plans for the future came in a speech at Trimdon Labour Club in Sedgefield, County Durham.

Mr Blair today announced he will resign as Prime Minister on June 27.

He told an emotional meeting in his constituency: "Today I announce my decision to stand down from the leadership of the Labour Party.

"The party will now select a new leader.

On June 27 I will tender my resignation from the post of Prime Minister to the Queen."

Mr Blair began his address to the emotional gathering with tributes to his long-standing agent John Burton and his wife Cherie.

Then he said: "I have come back here to Sedgefield, to my constituency, where my political journey began and where it's fitting that it should end."

Mr Blair added: "I have been Prime Minister of this country for just over ten years. In this job, in the world today, I think that is long enough for me, but more especially for the country.

"Sometimes the only way you conquer the pull of power is to set it down."

This morning Chancellor Gordon Brown paid tribute to the PM's "unique achievements and leadership".

Southampton Itchen MP John Denham, who resigned from his ministerial post in protest about the war in Iraq, said: "By common agreement it's time for a change but he's left Britain a more prosperous country in which poverty has been reduced and we have better funded and better quality public services. We see ourselves as a more confident, relaxed country than we were ten years ago."