Boris Johnson is giving his victory speech.
He starts by saying Jeremy Hunt was a formidable opponent.
He was a fount of excellent ideas, all of which Johnson says he proposes to steal forthwith.
And he thanks Theresa May for her service.
Boris Johnson says there will be people who question the wisdom of the decision to elect him.
No one person or party has a monopoly of wisdom, he says.
But he says over time the Conservatives have had the best instincts, and the best way of balancing instincts, like the instinct to own your own home and keep your own money, and the instinct to share.
The Conservatives have encouraged those instincts to work together, he says.
Boris Johnson says the party has to reconcile two conflicting instincts again: the instinct to work with others, and the instinct for self-government.
He says in the Financial Times this morning someone said no incoming leader had ever faced such a daunting set of circumstances.
But do you look daunted, he asks the audience. They don’t look or feel daunted he says.
He says the mantra of his campaign was to deliver Brexit, unite the country and defeat Jeremy Corbyn.
(He used to include unite the party too, but with all the resignations, that might not have sounded such a good line.)
He says his three priorities – deliver, unite and defeat – form the acronym Dud. But that is to leave out the final plan: “energise”. So his acronym is Dude, he jokes.
He says he is now going to get on with the job.
And that’s it.