David Cameron has thanked Nick Clegg as he returned as British Prime Minister after winning a majority to put him back in power without the help of any other party.

In an extraordinary General Election, which claimed the scalps of three party leaders, including Mr Clegg, in 52 minutes, the Conservatives confounded expectations to win outright.

Speaking on the steps of Downing Street after a meeting with Queen Elizabeth II at Buckingham Palace, Mr Cameron said he would be proud to lead a majority government and vowed to be the party of the "working people".

He said: "I have been proud to beat the first coalition government in 70 years and I want to thank all of those who worked so hard to make it a success. I would particularly like to thank Nick Clegg."

"Elections can be bruising clashes of ideas and arguments and a lot of people who believe profoundly in public service have seen that service cut short."

"The government I led did important work. It laid down the foundations for a better future and now we must build upon that."

He is the second only British Prime Minister to have increased their majority while in power - Margaret Thatcher was the first - although he will have to govern with the slimmest of majorities.

Resignations

Labour leader Ed Miliband resigned after a dismal night during which his party was virtually wiped out in Scotland, and which reached its lowest point when shadow chancellor Ed Balls lost his Morley and Outwood seat.

Mr Miliband said he had telephoned Mr Cameron to congratulate him on his victory and added he was sorry and took "absolute and total responsibility" for the party's loss.

Mr Clegg announced his resignation after the Lib Dems paid a hefty political price for their time in coalition.

The party lost 47 seats - over 15% of its vote share - including a shock loss for former UK Business Secretary Vince Cable, who has held his seat since 1997.

In his resignation speech, Mr Clegg said he was honoured to have served his country at a "time of crisis" and said it was now time to reflect on the "catastrophic losses".

He warned: "I hope that our leaders across the United Kingdom realise the disastrous consequences for our way of life and the integrity of the United Kingdom if they continue to appeal to grievance rather than generosity, and fear rather than hope."

"It's no exaggeration to say that in the absence of strong and statesman-like leadership, Britain's place in Europe and the world and the continued existence of our United Kingdom itself is now in grave jeopardy."

'Roar of the Scottish lion'

UKIP leader Nigel Farage also stepped down after failing to win the South Thanet seat but hinted he would be likely to run in the party's leadership contest.

The night delivered a number of surprise departures including former Conservative Employment Minister Esther McVey, former Lib Dem Chief Secretary to the Treasury Danny Alexander, Lib Dem Education Minister David Laws and Labour's campaign chief Douglas Alexander.

The SNP won all but three of Scotland's 59 seats delivering a significant "tartan bloc" to Westminster in a night which Alex Salmond, the former party leader who won his seat, hailed as the "roar" of the "Scottish lion".

Mr Cameron now has the task of getting his programme through parliament with a wafer-thin majority, which is likely to be blighted by backbench rebellions, and leadership challenges.

He has said he will only serve two terms as Prime Minister, naming his possible successors as Boris Johnson, Theresa May and George Osborne.

The Conservative leader will also have to deliver on his promise of a referendum on Britain's continued membership of the European Union by 2017 and his pledge to reform the UK's deal with Europe before then.

It is an issue that has caused considerable concern in London's business district.

And with the SNP's meteoric rise, he will also face significant challenges over Scotland - with the spectre on another referendum and pressure within his party to re-examine the financial deal the country gets and the issue of English votes for English laws.

SNP leader Nicola Sturgeon spoke to the media about the election result after arriving at London City Airport.

And what of the Northern Ireland seats? Journalist and analyst Alan Murray told Newstalk Breakfast earlier it has seen the unionists take 11 of the 18 seats.