Cameron rules out a third term as British PM, before securing a second

UK Prime Minister David Cameron, who is seeking re-election on May 7, ruled out standing for a third term in 2020, saying "fresh leadership would be good".

"I'm not saying all prime ministers necessarily definitely go bad, or even go bad at the same rate," Cameron said in an interview. "The third term is something I'm not contemplating."

The prime minister named Home Secretary Theresa May, Chancellor of the Exchequer George Osborne and London Mayor Boris Johnson as potential successors at the head of his Conservative Party. "There's plenty of talent there," he said.

Cameron is fighting for re-election in the most unpredictable UK election in decades, with polls indicating neither his ruling Conservatives nor the opposition Labour Party will win enough seats to control parliament. He is standing for a "full second term" because "I want to finish the job".

"The economy has turned around, the deficit is half down," Cameron said. "I didn't just come to do this to deal with the debts and the mess, I want to go on with the education reforms and the welfare reforms."

Cameron's announcement suggests that if he wins in May there may be a smoother transition of leadership than most predecessors have had. With no term limits, all except three of the 18 prime ministers in the 20th century ruled until they lost an election, were forced out by their own party, or died.