David Cameron has quit as prime minister after the UK voted to leave the European Union.
The prime minister made a statement in front of 10 Downing Street today, saying new leadership is needed to navigate the UK through the process of leaving the EU.
He will remain in office for three months, offering a period of “stability” for the UK but says new leadership will be in place by the Conservative party conference in October.
“I believe Britain is stronger, safer and better off inside the EU. The referendum was about this and this alone. The British people have made a very clear decision to take a different path,” he says.
“I think the country requires fresh leadership. I do not think it is right for me to be the captain that steers this country to the next destination. It is not a decision I have taken lightly. The nation needs to have period of stability. I will continue in my post as prime minister with my cabinet in the next 3 months.”
Cameron adds that he will leave it to his successor to determine when to trigger Article 50 and start the formal and legal process of leaving the EU.
He adds that Mark Carney, governor of the Bank of England, will make a statement shortly to reassure markets.