BREAKING: David Cameron to step down as Prime Minister following EU Referendum result

David Cameron has this morning, Friday June 24, stepped down as Prime Minister following a Leave vote in the EU Referendum.

Prime Minister David Cameron. Pic Steve Robards SR1616713 EMN-160620-194324001

Mr Cameron negotiated a new deal for Britain in Europe and had urged people to vote remain.

In a speech on the steps of 10 Downing Street, Mr Cameron, he said: “It has been an honour to be Prime Minister for the last years in this country. I don’t think it is right for me to be the captain to steer this ship in a new direction.”

Mr Cameron said he expects Britain to have a new Prime Minister by October.

What happens now

Boris Johnson and Theresa May are likely to announce they will stand to become the next Prime Minister

Boris Johnson is the man to beat in the race to become David Cameron’s successor. In these circumstances, the only two figures who could realistically challenge him are Michael Gove and Theresa May. Mr Gove may rule himself out, preferring to be Boris’s kingmaker rather than a contender. But Mrs May is almost certain to stand.

She has kept a low profile during the campaign: she has come out in favour of Remain (which will disadvantage her), but she might still come through to win as a steady but tough hand on the tiller through turbulent times.