Ukip leader Paul Nuttall has quit after his party lost nearly 11 per cent of its vote share.
The pro-Brexit party saw its vote share collapse to around two per cent this morning, compared with 12.6 per cent it secured in 2015, when it won one seat.
Nuttall, who failed to win the seat he was contesting in Boston and Skegness, said his party was the victim of a return to a two-party system, but argued that was just a temporary situation.
"The tide comes in and the tide goes out," he said, adding that there were some who "wrongly" believed Ukip's job had been done.
"Ukip could, in 18 months, be bigger in poll ratings and members than ever before. However, it will not be with me as leader," he added.
"Ukip is still here and Ukip is not going away."
"I think the shock we're seeing tonight is all about personality. UKIP voters want someone who speaks for them. Corbyn looked comfortable in his own skin," he said, adding that Theresa May's credibility had been "fatally damaged".