Cameron strolls in with 2-to-1 margin

David Cameron was this afternoon confirmed as the new leader of the Conservative Party, polling 134,446 votes compared with 64,398 for his competitor David Davis.

The outgoing leader, Michael Howard, said the contest had been conducted with "good humour and civility and I believe that has brought great credit to the party."

Mr Davis said that the contest had been a preamble to the party winning the next general election. It showed the party as being civilised, thoughtful and mature.

Mr Cameron, who becomes the fourth leader of his party since 1997 to take on Tony Blair, gave his acceptance speech in his trademark manner, without notes and away from the podium. He said: "It's a huge privilege and an honour and a great responsibility to take on this job and I will do it with everything I have to the best of my ability for my party and my country.

"I want us to give this country a modern compassionate Conservatism that is right for our times and right for our country."

He paid tribute to the other leadership contenders "especially" Mr Davis who he said would be "a vital part of the team in the future". He said the election had been good for the party and had shown a wealth of talent, ideas and optimism.

* Mr Cameron's triumph was worth £208,000 to a Windsor-based Irish businessman customer of bookmakers William Hill, who staked £200,000 a fortnight ago when Mr Cameron was 1/25 favourite. Before the Conservative Party Conference, he was a 12/1 outsider.