Tim Farron announces bid to become Liberal Democrat leader

Liberal Democrat MP Tim Farron has announced that he is standing to become leader of the party following the resignation of Nick Clegg.

Speaking in an interview with ITN, the former party president said that he had decided to run for leader because he was "not prepared to see the Liberal movement die".

"Liberal voices in Britain need to be heard and Britain needs the Liberal Democrats to recover, to survive and to thrive," he said.

After being in a coalition government with the Conservatives for the last five years, the party suffered a devastating general election in which they were reduced from 58 to eight MPs. As a result, former party leader and deputy prime minister Nick Clegg resigned, sparking a leadership race to succeed him.

North Norfolk MP Norman Lamb is the only other contender to announce their candidacy for the Liberal Democrat leadership so far. The new leader of the party will be elected in July.