As expected, Chris Huhne has fallen on his sword. Here's his statement, which he has just made outside his London flat.
The Crown Prosecution Service's decision today is deeply regrettable.
I am innocent of these charges and I intend to fight this in the courts and I am confident that a jury will agree. So as to avoid any distraction to either my official duties or my trial defence I am standing down and resigning as energy and climate change secretary. I will of course continue to serve my constituents in Eastleigh. Thank you and that's all I want to say today.
And here's the statement his former wife Vicky Pryce, who has also been charged by police, has issued through her lawyers:
As the CPS have decided to prosecute it would not be appropriate to comment further at this stage.
Obviously I hope for a quick resolution of the case. In the meantime I will be taking a little time off over the next few days to be with my family.
As I wrote earlier, there will now be a limited reshuffle with Ed Davey, the employment minister and Vince Cable's deputy, likely to replace Huhne as Energy Secretary, and Norman Lamb, Clegg's chief of staff, expected to take over Davey's brief.
Update: And here's Huhne's resignation statement in video form.