As expected, Tony Blair announced today that he is stepping down as leader of Britain's Labour Party and, by extension, as Prime Minister. The resignation will be tendered to the Queen on 27 June.Over the next seven weeks, Labour Party officials will conduct a leadership election in which Finance Minister Gordon Brown is expected to be elevated to party leader. With their current majority in the House of Commons, Brown will then become Prime Minister upon Blair's departure.
Brown will serve as Prime Minister until the next general election is called.
