I won’t serve third term' if re-elected - says David Cameron

David Cameron said he will not serve a third term as prime minister if the Conservatives remain in government after the general election.

 PM said if re-elected he would serve the full five years of another Parliament and then leave Number 10.

After that, he said, "it will be time for new leadership".

Mr Cameron tipped Home Secretary Theresa May, Chancellor George Osborne and London Mayor Boris Johnson as potential successors.

 Mr Cameron described the three Conservative heavyweights as "great people" with "plenty of talent".

James Landale said the PM's comments would "electrify the election campaign".

"Not only will this kick-start a lengthy Tory leadership contest, it will also send a message to voters that if they back the prime minister now, he would not go on and on as some previous prime ministers had done," he said.

But it is quite a gamble. There is a risk that some voters will think Mr Cameron is being arrogant for presuming the result of an election that could see him dismissed from Downing Street in a matter of weeks.

The prime minister said during the interview he felt his job was "half done" with the economy "turned round" and that he wanted to "finish the job" of education and welfare reform.

'Shredded Wheat'

But he said: "There definitely comes a time where a fresh pair of eyes and fresh leadership would be good, and the Conservative Party has got some great people coming up - the Theresa Mays, and the George Osbornes, and the Boris Johnsons.

"You know, there's plenty of talent there. I'm surrounded by very good people."

He added: "I've said I'll stand for a full second term, but I think after that it will be time for new leadership.

"Terms are like Shredded Wheat - two are wonderful but three might just be too many."

Labour said Mr Cameron was "taking the British public for granted".

Shadow foreign secretary Douglas Alexander, the party's general election co-ordinator, said: "It is typically arrogant of David Cameron to presume a third Tory term in 2020 before the British public have been given the chance to have their say in this election.

"In the UK it is for the British people and not the prime minister to decide who stays in power."

'Sanity check'

A UKIP spokesman said: "Mr Cameron's announcement will create the long-awaited civil war in the Conservative party over Europe."

Conservative backbench MP Nadhim Zahawi told Channel 4 News Mr Cameron's announcement "isn't arrogance - it's honesty".

Former Labour Prime Minister Tony Blair ruled out seeking a fourth term ahead of the 2005 general election, leading to speculation about his replacement. His party won that election and Gordon Brown took over as prime minister in 2007.

Conservative Prime Minister Margaret Thatcher won a third term at the 1987 general election, but resigned in 1990 following a leadership challenge and was replaced by John Major.