David Cameron has announced he will step down as prime minister, following the UK voting 52% in favour of leaving the European Union.
Speaking outside Downing Street this morning, Mr Cameron said the country needed ‘fresh leadership’ as it sets about negotiating a new relationship with Europe.
He said: ‘I do not think it would be right for me to be the captain that steers this country in the next direction.’
The move comes despite a letter signed by more than 80 Brexit MPs last night including key figures, Boris Johnson and Michael Gove, which called on Mr Cameron to remain as prime minister saying he had a 'duty to stay on'.
Mr Cameron has informed the Queen of his decision and is aiming to have a new Tory leader by the time of the Conservative Party Conference in October.
David Cameron resignation speech: 'I was absolutely clear [in the referendum] about my belief that Britain is stronger, safer and better off inside the European Union. And I made clear the referendum was about this and this alone, not the future of any single politician, including myself.
'But the British people have made a very clear decision to take a different path and as such I think the country requires fresh leadership to take it in this direction.
'I will do everything I can as prime minister to steady the ship over the coming weeks and months. But I do not think it would be right for me to try to be the captain that steers our country to its next destination.
'This is not a decision I have taken lightly. But I do believe it’s in the national interest to have a period of stability and then the new leadership required.
'There is no need for a precise timetable today. But in my view we should aim to have a new prime minister in place by the start of the Conservative party conference in October.'