Vince Cable will resign as the leader of the Liberal Democrats in May.

After almost two years as leader, he will step down following the UK’s local elections.

In a statement, he said: “I indicated last year that once the Brexit story had moved on, and we had fought this year’s crucial local elections in 9,000 seats across England, it would be time for me to make way for a new generation,” the politician said in a statement.

“I set considerable store by having an orderly, business-like, succession unlike the power struggles in the other parties.”

Mr Cable’s announcement is timed to coincide with the party's spring conference in York, which begins on Friday.

His successor will be selected in a 12-week leadership contest, which will begin in May.

Mr Cable added: “It has been my great privilege to lead the Liberal Democrats at this crucial time.

“I inherited the leadership after two difficult and disappointing general elections.

“But I take pride in seeing the party recovering strongly, with last year’s local election results the best in 15 years, record membership and a central role in the People’s Vote campaign.”