Mr David Cameron has announced that he will be stepping down as Prime Minister by October following the UK’s vote to leave the European Union.
He said he would attempt to "steady the ship" over the coming weeks and months but that "fresh leadership" was needed.
Choking back tears, Mr Cameron said he would not depart immediately and would seek to calm the markets over the coming 'weeks and months'. But he said a new Prime Minister should be in place for the Conservative Party conference in October. Boris Johnson, who led the Brexit campaign, will be the overwhelming favourite to take over.
The PM had urged the country to vote Remain, warning of economic and security consequences of an exit, but the UK voted to Leave by 52% to 48%.
England and Wales voted strongly for Brexit, while London, Scotland and Northern Ireland backed staying in.
The pound fell to its lowest level against the dollar since 1985 as the markets reacted to the results.