David Cameron has resigned as Prime Minister after Britain voted to leave the European Union.
With the Leave campaign securing 52 per cent of the vote, Mr Cameron addressed the nation in an emotional speech outside 10 Downing Street to announce that he would be stepping down.
While England voted overwhelmingly for Brexit, Scotland and Northern Ireland backed Remain. Statements are expected to be made by Sinn Fein and the SNP later today calling for a breakaway from the Union. London backed Remain but the turnout was lower than expected because of bad weather.
Meanwhile on the market, the FTSE 250 index has plunged a whopping 11.7pc. The index of so-called mid-cap companies had dropped an astonishing 2,017 points to 15,309 in the first few minutes of trading.
Mayor of London Sadiq Khan tries to inject some positive vibes into this morning’s agenda.
London will continue to be the successful city that it is today. My statement on the #EURefResults https://t.co/YJlJ0zIr8U
— Mayor of London (@MayorofLondon) June 24, 2016
Michael Fallon, the Defence Secretary, told Radio 4’s Today programme: “Of course it’s extremely sad news and I would have preferred him to stay on to help make this decision work but it’s his decision and I think it’s the honourable and decent thing to do.
“He lost the argument in the referendum campaign and it does answer your question as to who is best placed to take this renegotiation forward.” Mr Fallon added, however, that “it’s too early to speculate” on who will replace Mr Cameron.
“What’s important now is that we reassure the country, we stabilise the markets and the economy and we reassure our allies that Britain is not turning its back on the world,” he added.
Theresa Villiers, the Northern Ireland secretary, added: “It’s truly shocking news, it’s deeply sad… I would very much have preferred David Cameron to have been steering this country through the next few years. I entirely respect his decision but I think it’s a sad day for the country that he has decided to stand down.”
Alex Salmond, the former Scottish First Minister, said the resignation was “inevitable”.
Tears in my eyes as I listened to the PM, he has been a good PM in very difficult circumstances, I am glad he has resisted the siren voices
— margot james (@margot_james_mp) June 24, 2016
I don’t believe it. Cameron standing down. The last thing we need is the uncertainty of a leadership challenge
— Mark Garnier (@Mark4WyreForest) June 24, 2016
Very sad that David Cameron has decided to leave as PM. He has been a great servant to his country and to his Party. He deserved better.
— Bob Neill (@neill_bob) June 24, 2016
@ChrisPincher Thanks to you he is no longer your leader. Hope you are happy with the pack of liars who will be candidates to follow.
— Shakey (@shakemeister007) June 24, 2016