Conservative leader David Cameron took over as Britain’s new Prime Minister, ousting the Labour party from power after a 13-year rule, after striking an agreement with the Liberal Democrats who joined the country’s first coalition government in 70 years.

Cameron assumed the top post last night after Queen Elizabeth II invited him to form the new government following  the resignation  of  incumbent Gordon Brown.

Lib Dem leader Nick Clegg has been named as the Deputy Prime Minister as Cameron said he planned to form a “full” coalition government of his Conservative party and the Liberal Democrats. Installed at the No 10 Downing Street, Cameron thus becomes the youngest prime minister in almost 200 years, since Lord Liverpool who assumed office at 42.

A statement from Buckingham Palace said the Queen had requested 43-year-old Cameron to form a new government.

The agreement over power-sharing came after five days of hard bargaining between the single-largest party and the kingmaker Clegg’s party; following which four other Liberal Democrats also received Cabinet posts. The arrangement gives Britain its first coalition government since the World War II when Winston Churchill led a war time coalition.

The Conservatives emerged as the largest single party in the 6th May election that triggered the ending of the Labour party’s record 13 years in office.

The 6th May election threw up the first hung verdict in 34 years and a coalition emerged only after five days of hectic negotiation between the Tories and the Lib Dems. The Liberal Democrats held simultaneous parleys with the Labour and Brown also announced that he would step down to brighten the prospects of his party’s coalition with the centrist party. However, the move paid little dividends.

the Conservatives emerged as the largest party with 306 seats in the 650-member House of Commons following tha poll which threw up a hung parliament. Labour got 258 seats and the Lib Dems 57.

Brown, had succeeded Tony Blair as Prime Minister in June 2007,