David Cameron makes a "comprehensive offer" to the Liberal Democrats

Due at 2.30pm. Highlights, not verbatim.

David Cameron says the Tories won more votes than Labour at the last General Election when they won a majority.

We can be proud of the result. We won more new seats than Margaret Thatcher in 1979.

Despite the advance we have to accept that we have fallen short of a majority.

Britain is at war in Afghanistan. We are facing a serious economic situation because of the dangerous debts. We need a government that will deal with these urgent problems and that will avoid political point-scoring and grand-standing.

I thank Nick Clegg for recognising that the Tories won most new seats and I will now talk to the Liberal Democrats about delivering the kind of government Britain needs.

I offer reassurances to the Liberal Democrats so that they support a minority Conservative government but I am also willing to discuss other possibilities.

There are some non-negotiables. No government can give more powers to Europe. We must be strong on immigration. It is reasonable that the bulk of the Tory manifesto is implemented.

But in some areas there must be compromise. Conservatives have ideas for electoral reform although they are not the same as the Liberal Democrats' ideas. But coooperation will allow the Liberal Democrats to implement part of their manifesto.

The Conservative Party has always put the national interest first and that is what we will do now.

Tim Montgomerie