Jeremy Corbyn has hailed his party’s election performance as a vote for “hope” and demanded Theresa May quit as Prime Minister.

In his victory speech at his own Islington North count he said the time had come for a government that is “truly representative of all of the people of this country”.

His shadow Chancellor John McDonnell said Labour would try to form a government at the earliest possible opportunity, even if it was in a minority.

With results pointing to his party performing considerably better than it had in 2015 under Ed Miliband, Mr Corbyn said the UK could be a “different and fundamentally better place”.

He went on: “Politics is not going back into the box where it was before.

“What’s happened is people have said they have had quite enough of austerity politics, they have had quite enough of cuts in public expenditure, underfunding our health service, underfunding our schools and our education service and not giving our young people the chance they deserve in our society.”

People were “voting for hope for the future and turning their backs on austerity”, he said.

UK General Election 2017 Show all 47 1 /47 UK General Election 2017 UK General Election 2017 12 June 2017 British Prime Minister Theresa May leaves 10 Downing Street for the 1922 committee on June 12, 2017 in London, England. British Prime Minister Theresa May held her first cabinet meeting with her re-shuffled team today Getty Images UK General Election 2017 12 June 2017 DUP leader Arlene Foster stands alongside deputy leader Nigel Dodds as they hold a press conference at Stormont Castle as the Stormont assembly power sharing negotiations reconvene following the general election on June 12, 2017 in Belfast, Northern Ireland. Discussions between the DUP and the Conservative party are also continuing in the wake of the UK general election as Prime Minister Theresa May looks to form a government with the help of the Democratic Unionist parties ten Westminster seats. 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Rex UK General Election 2017 9 June 2017 BELFAST, NORTHERN IRELAND - JUNE 09: DUP leader and Northern Ireland former First Minister Arlene Foster (C) holds a brief press conference with the DUP's newly elected Westminster candidates who stood in the general election Getty Images UK General Election 2017 9 June 2017 A " Get May Out" demo took place opposite the gates of Downing Street, calling for May to resign, after the shock election results and Mays coalition with the DUP. Rex Features UK General Election 2017 9 June 2017 A demonstrator wears a mask depicting Britain's Prime Minister and leader of the Conservative Party Theresa May, poses with a mock gravestone bearing the words "Hard Brexit, RIP", during a protest photocall near the entrance 10 Downing Street in central London AFP/Getty Images UK General Election 2017 9 June 2017 Britain's Prime Minister Theresa May arrives at the Conservative Party's headquarters in London Reuters UK General Election 2017 9 June 2017 Britain's Prime Minister and leader of the Conservative Party Theresa May flanked by her husband Philip delivers a statement outside 10 Downing Street in central Londo Getty UK General Election 2017 9 June 2017 Britain's Prime Minister and leader of the Conservative Party Theresa May leaves Buckingham Palace in London the day after a general election in which the Conservatives lost their majority Getty Images UK General Election 2017 9 June 2017 A TV cameraman watches the door of 10 Downing Street in London Getty Images UK General Election 2017 9 June 2017 Labour leader Jeremy Corbyn is greeted by his Office Director Karie Murphy as he arrives at Labour Party HQ in Westminster, London, after he called on the Prime Minister to resign, saying she should 'go and make way for a government that is truly representative of this country' Dominic Lipinski/PA Wire UK General Election 2017 9 June 2017 Britain's Prime Minister Theresa May arrives at the Conservative Party's headquarters with her husband Philip in London REUTERS/Peter Nicholls UK General Election 2017 9 June 2017 Ukip leader Paul Nuttall speaks during a press conference at Boston West Golf Club where he announced that he is standing down as party leader Joe Giddens/PA UK General Election 2017 9 June 2017 Ruth Davidson, leader of the Scottish Conservatives, leaves the counting centre for Britain's general election with her partner Jen Wilson in Edinburgh, Scotland REUTERS/Russell Cheyne UK General Election 2017 9 June 2017 Scottish Labour leader Kezia Dugdale celebrates with candidate for Edinburgh South Ian Murray as he retains his seat at the Meadowbank Sports Centre counting centre in Edinburgh, Scotland Getty Images UK General Election 2017 9 June 2017 First Minister Nicola Sturgeon speaks to the media at the Emirates Arena in Glasgow, as counting is under way for the General Election Andrew Milligan/PA Wire UK General Election 2017 9 June 2017 Scottish Conservative leader Ruth Davidson at Meadowbank Sports Centre in Edinburgh, as counting is under way for the General Election PA UK General Election 2017 9 June 2017 Scottish National Party (SNP) leader Nicola Sturgeon reacts at the Emirates Arena in Glasgow, Scotland EPA UK General Election 2017 9 June 2017 Jeremy Corbyn, leader of Britain's opposition Labour Party, arrives at the Labour Party's Headquarters in London REUTERS/Marko Djurica UK General Election 2017 9 June 2017 UKIP Leader Paul Nuttall leaves in a car following the vote count for the constituency of Boston and Skegness in Boston, England Anthony Devlin/Getty Images UK General Election 2017 9 June 2017 British Prime Minister and Conservative Party leader Theresa May speaks at the declaration at the election count at the Magnet Leisure Centre in Maidenhead, England. 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Getty Images UK General Election 2017 6 June 2017 A supporter wears a pair of Jeremy Corbyn decorated tights at a general election campaign event in Birmingham, central England, on June 6, 2017. Britain goes to the polls on June 8 to vote in a general election only days after another deadly terror attack in the nation's captial. AFP/Getty Images UK General Election 2017 6 June 2017 A picture taken in London, shows election leaflets from various parties displayed ahead of the United Kingdom's general elections. 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If elected in next week's general election Mr Corbyn is pledging to create a million new jobs and to scrap zero-hours contracts Getty Images UK General Election 2017 1 June 2017 Scottish Conservative and Unionist Party leader Ruth Davidson joins a selection of Scottish Conservative election candidates and activists during campaigning on May 1, 2017 in South Queensferry, Scotland. With only seven days to go until the general election on June 8th, polls are showing the SNP out in front and the Conservatives set to close in on Labour. Getty Images UK General Election 2017 29 May 2017 Prime Minister Theresa May canvasses in Richmond with Conservative candidate Zac Goldsmith on May 29, 2017 in London, United Kingdom. After suffering defeat in the London Mayoral election Zac Goldsmith resigned over the Government's position on Heathrow expansion. He stood as an Independent but lost in a by-election to the Liberal Democrats. 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Turning his fire on Ms May, he said: “The Prime Minister called the election because she wanted a mandate. Well the mandate she has got is lost Conservative seats, lost votes, lost support and lost confidence.

“I would have thought that’s enough to go, actually, and make way for a government that will be truly representative of all the people of this country.”

He added: “In the new parliament we will do everything we can to ensure that everything we have said in this campaign and everything that is included in our manifesto is put before Parliament so that this country can be a different, and I believe, fundamentally better place.”

Mr McDonnell arrived at the count for Hayes and Harlington to back his leader’s call up, pointing out Ms May’s U-turn over calling an election.

He said: “I think Theresa May actually called a general election despite promising some seven times not to. And people thought this was unnecessary. And she put party before country.

“I think even some Conservative MPs now consider her position is increasingly untenable. I think she has committed a … political error for her own political career.

“More importantly she has put us through a general election which was unnecessary. She put party before country and that’s unacceptable.”

John McDonnell: Theresa May's position as PM untenable

Underlining his party’s intention to form a government, he said: “Whenever we get the opportunity we will do.

“If it’s a minority government we will. But we don’t know the results of this election yet.