Socialist Jeremy Corbyn to step down as leader of Labour Party after projected defeat in U.K. election

A lifelong socialist, Corbyn, 70, will be remembered for transforming the party from a progressive but center-left political force that won three elections under Tony Blair, to a radical left-wing party that called for major reforms in business and the economy.

While he is popular among the party faithful — membership swelled under him — he is unpopular with many of his colleagues in Parliament, and several high-profile anti-Brexit Labour figures either quit, joined the rival Liberal Democrats or began their own mini-party.

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