David Cameron stands down as Prime Minister hours after EU referendum delivered clear backing for Brexit.

UK Prime Minister, 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 52 per cent of the votes - despite massive support for Remain in Scotland and major cities including London.

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.

 'I held nothing back. I was absolutely clear about my belief that Britain is stronger, safer and better off inside the EU,' he said.

‘And I made clear the referendum was about this and this alone – not the future of any single politician including myself.

‘But the British people have made a very clear decision to take a different path and as such I think the country requires fresh leadership to take it in this direction.’ 

Choking back tears, Mr Cameron - who led the Tories to a shock majority in the general election barely a year ago - said he would not depart immediately and would seek to 'steady the ship' and calm the financial markets over the coming 'weeks and months'.

But he said a new Prime Minister should be in place for the Conservative Party conference at the beginning of October. 

Source Daily Mail