JO Swinson yesterday resigned as LibDem leader after failing to retain her East Dunbartonshire seat. It was a humiliating exit for the former business minister in the LibDem/Tory coalition who presented herself as a candidate for prime minister when she launched her campaign just weeks earlier. Swinson lost her seat to the SNP’s Amy Callaghan by 149 votes.

Callaghan ran a determined campaign and managed to draw support from voters unimpressed with Swinson’s record in government which includes backing for welfare cuts and sanctions.

Sir Ed Davey and Baroness Sal Brinton will take over as acting LibDem co-leaders with a leadership contest scheduled for the new year.

Yesterday Swinson indicated she wants to see a woman replace her as leader of the LibDems.

In a speech in central London following a dismal night for her party, Swinson name-checked several re-elected MPs, including education spokeswoman Layla Moran and home affairs spokeswoman Christine Jardine, who had the “experience” to succeed her.

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She said that “smashing the glass ceiling” by becoming the party’s first female leader had meant “a lot of broken glass comes down on your head”.

An emotional Swinson said: “I’m proud to be the first woman to lead the Liberal Democrats and I’m even more proud that I will not be the last.

“In Sarah [Olney], Wera [Hobhouse], Christine and Layla, we have four fantastic and experienced women MPs.

“And in Daisy [Cooper] and Munira [Wilson] and Wendy [Chamberlain], we have exciting new talent.

“They will take the Commons by storm.”

Wilson held former leader Vince Cable’s Twickenham seat after he stepped down from the Commons.

Cooper made a LibDem gain in St Albans against the Conservatives, while Ms Chamberlain took North East Fife from the SNP.

LibDem rules say the party leader must be a sitting MP.

Bookmaker Coral made Sir Ed the favourite to succeed, offering odds of 11-10 to replace the woman who beat him in the leadership race in July.

Moran, increasing her Oxford West and Abingdon majority from 800 to almost 9,000, is second in the race to succeed Swinson, and environment spokeswoman Wera Hobhouse is third favourite, according to Coral.

Former coalition minister Swinson said she had been “devastated” by the election results, in which her party took just 11 seats, down by 1 on the party’s 2017 showing at the polls.

But she said she did not “regret trying” to be the “unapologetic voice of Remain” and “giving people the chance to choose to stop Brexit”.

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Swinson said she would continue to be involved with the party that she has been campaigning for since she was a teenager.

“Though I won’t be your leader, I will be walking alongside you,” she said.

“We will reflect, regroup and refresh.”

Scottish LibDem leader Willie Rennie said: “Jo is a good friend, brave, principled and stood up for what she believed in in politics at a time when lots of politicians fudge and dither.

“She stood up because she believed in Scotland’s place in the United Kingdom and the United Kingdom’s place in the European Union and I commend her for doing that.

“She’s made the sacrifice of losing her own seat and Scottish and UK politics will be the worse for that. We need more people like Jo Swinson, not less.”

Nicola Sturgeon yesterday said that she “got overexcited” after she was caught on camera celebrating Swinson losing her seat to the SNP.

The First Minister was waiting to speak to Sky News when the result was read out – with the SNP leader cheering and celebrating her party’s victory with energetic fist-pumps.

She was filmed reacting to the East Dunbartonshire result while doing interviews at the Glasgow count, but has faced fierce criticism over her behaviour.

The First Minister has now apologised, saying: “Sorry, I got overexcited.” Speaking to Sky News, she said it was an “understandably, excited reaction” – and offered Swinson her sympathy.

“I understand more than most, the pressures and the challenges of leadership and to lose her seat tonight when she’s lead her party through this campaign will be a bitter blow for her,” she said. “It’s difficult for women in politics, so I have a great deal of sympathy for her.”