Prime Minister David Cameron has resigned after the UK voted to leave the EU.
A tearful Mr Cameron said the UK needed “fresh leadership” and that he had already spoken to the Queen about his decision.
Despite his best efforts to lead the remain campaign, the British public voted to leave the EU by 51.9 per cent to 48.1 per cent.
Speaking to the world’s press outside Downing Street, the PM said he would aim to have a new leader in place by the Conservative party conference in October.
“The British people have voted to leave the European Union and their will must be respected,” Mr Cameron said.
“The country requires fresh leadership to take it in this direction,” added the PM.
He added: “I will do everything I can as Prime Minister to steady the ship over the coming weeks and months, but I don’t think it would be right for me to try to be the captain that steers our country to its next destination.
“This is not a decision I’ve taken lightly but I do believe it’s in the national interest to have a period of stability and then the new leadership required.”
Mr Cameron said he had fought the “only way I know how … head, heart and soul” to stay in the EU but that voters had chosen a different path.
He added: “I love this country, and I feel honoured to have served it and I will do everything I can in the future to help this great country succeed.”
The Tories now have three months to choose who will lead the party and become the UK’s new prime minister.