Bill Shorten concedes defeat and steps down as Labor leader

Opposition leader Bill Shorten has conceded defeat and revealed he won’t run in the next party leadership ballot, saying: “I know you are all hurting and I am too.”

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Opposition leader Bill Shorten has conceded defeat and revealed he won’t run in the next party leadership ballot.

Mr Shorten fronted the Labor Party HQ at 11.30pm on Saturday with his wife Chloe by his side and said he wished he could’ve formed government.

“I want to say beyond this room to Australians who supported Labor, I know you are all hurting and I am too,” he said.

Bill Shorten has conceded defeat and will step down as leader of the Labor Party. Picture: Ryan Pierse/Getty

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“Without wanting to hold out any false hope while there are still millions of votes to count, and important seats yet to be finalised, it is obvious that Labor will not be able to form the next government.

“So in the national interest a short while ago I called Scott Morrison to congratulate him and I wished Jennie and their daughters all the very best and above all I wish Scott Morrison good fortune and good courage in the service of our great nation, the national interest required no less.”

Bye, bye Bill. Shorten has stepped down as leader of the Labor Party after an election loss. Picture: Scott Barbour/Getty

The campaign had been toxic at times but Labor had a responsibility to accept the result, Mr Shorten, who had been a ALP member for 35 years, said.

“Respect the wishes of the Australian people and to bring our nation together,” he said.

“However the task will be one for the next leader of the Labor Party because, whilst I intend to continue to serve as the member for Maribyrnong, I will be a candidate in the next leadership ballot.”

In a poignant moment during his concession speech, Mr Shorten said he wished he could’ve claimed a victory for former prime minister Bob Hawke, who passed away this week.

“But it was not to be,” he said.

“Labor’s next victory will belong to our next leader and I’m confident that victory will come at the next election.”

Bill Shorten is supported by his wife Chloe during his concession speech in Melbourne. Picture: AAP/Lukas Coch

Touching on the key issues of the campaign, Shorten said parts of Australia remained deeply divided on climate change.

He took aim at the Coalition’s deals with One Nation and the United Australia Party, which impacted the Labor vote particularly in Queensland and NSW, Shorten said.

He called on his supporters to carry on the fight for gender equality, the national disability insurance scheme, pensioners and a Medicare.

“Leave here knowing that we have argued for the future and our time will come — count upon that,” he said.

“And friends, the only reason I’ve been able to give everything to this job for the last 2000 days is because of the love and support of Chloe and our kids.

“I’m not unique. Everyone in public life is only here because of the patience and love of our families but to Chloe, Rupert, Gigi and Clementine, you have put up with so much I love you so much.”