David Cameron has resigned as prime minister of the United Kingdom in an emotional speech outside 10 Downing Street on early Friday, June 24, 2016.
This decision follows Britain’s vote to leave the European Union, with the Leave campaign securing around 51.8 per cent of the vote.
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.
The pound crashed to the lowest level since 1985 as sterling fell below $1.35. Complacency about a Brexit outcome will come clear this morning, as out of hours trading suggests that the FTSE 100 will drop by 8.8pc, or by some 560 points. The fall would be the third worst in history if stocks ended the day down as sharply.
David Cameron’s voice broke as he finished his speech, watched on by his wife Samantha outside 10 Downing Street.
The Cabinet will meet on Monday and a timetable for him stepping down will be drawn up.
David Cameron’s Resignation Speech In Full
Good morning everyone, the country has just taken part in a giant democratic exercise, perhaps the biggest in our history.
Over 33 million people from England, Scotland, Wales, Northern Ireland and Gibraltar have all had their say.
We should be proud of the fact that in these islands we trust the people for these big decisions.
We not only have a parliamentary democracy, but on questions about the arrangements for how we’ve governed there are times when it is right to ask the people themselves and that is what we have done.
The British people have voted to leave the European Union and their will must be respected.
I want to thank everyone who took part in the campaign on my side of the argument, including all those who put aside party differences to speak in what they believe was the national interest and let me congratulate all those who took part in the Leave campaign for the spirited and passionate case that they made.
The will of the British people is an instruction that must be delivered.
It was not a decision that was taken lightly, not least because so many things were said by so many different organisations about the significance of this decision.
So there can be no doubt about the result.
Across the world people have been watching the choice that Britain has made.
I would reassure those markets and investors that Britain’s economy is fundamentally strong and I would also reassure Britons living in European countries and European citizens living here there will be no immediate changes in your circumstances.
There will be no initial change in the way our people can travel, in the way our goods can move or the way our services can be sold.
We must now prepare for a negotiation with the European Union.
This will need to involve the full engagement of the Scottish, Welsh and Northern Ireland governments to ensure that the interests of all parts of our United Kingdom are protected and advanced.
But above all this will require strong, determined and committed leadership.
I’m very proud and very honoured to have been Prime Minister of this country for six years.
I believe we’ve made great steps, with more people in work than ever before in our history, with reforms to welfare and education, increasing people’s life chances, building a bigger and stronger society, keeping our promises to the poorest people in the world and enabling those who love each other to get married whatever their sexuality, but above all restoring Britain’s economic strength.
– David Cameron