Breaking: British Prime Minister David Cameron resigns

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David Cameron delivering his emotional resignation speech

David Cameron delivering his emotional resignation speech

An emotional David Cameron has announced his resignation as Prime Minister after the historic EU referendum delivered clear backing for Brexit.

The Prime Minister said he accepted the verdict of the ‘great democratic exercise’ which saw the Leave campaign triumph after stacking up votes across England and Wales – despite massive support for Remain in Scotland and major cities including London.

The Pound nose-dived to its lowest level against the US dollar for 31 years as traders took fright at the news, and the stock market slumped by 8 per cent within minutes of opening. SNP leader Nicola Sturgeon has already raised the prospect of a second independence referendum in Scotland.

Labour leader Jeremy Corbyn is also coming under intense pressure over his role in the botched Remain campaign.

Flanked by wife Samantha in Downing Street, Mr Cameron said he had been ‘proud’ to serve as PM for the past six years.

But he said it would not be right for him to be the ‘captain of the ship’ while the UK negotiated its exit from the EU.

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Source:: PM Newspaper