The Liberal Democrat MP, 58, changed his plea at the last minute at the opening day of his trial at Southwark Crown Court.
Mr. Huhne has announced outside court: “Having taken responsibility for something that happened 10 years ago, the only proper course of action for me is to resign my Eastleigh seat in Parliament, which I will do very shortly.”
Mr. Justice Sweeney has told Mr. Huhne to “have no illusions whatsoever” about the type of sentence likely to be imposed on him. The maximum penalty for the offence is life imprisonment.
Mr. Huhne’s ex-wife, Vicky Pryce, 60, has pleaded not guilty over the same offence on the grounds of marital coercion.
Deputy prime minister, Nick Clegg was “shocked and saddened” by Huhne’s admission but said his former challenger for the Lib Dem party leadership had “taken the right decision in resigning as an MP”.
Prime Minister David Cameron’s spokesperson has declined to comment over former energy secretary’s resignation and said: “It is a matter for Mr. Huhne.”
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