Cameron to stand down as PM following Brexit vote

Speaking in Downing Street, Mr Cameron said he had told the Queen of his intention to stand down by the time of the Conservative Party conference in the autumn.

The Prime Minister defended his decision to call a referendum and but said the country needed “new leadership” in the light of voters’ verdict.

He said: “I will do everything I can as Prime Minister to steady the ship in the coming weeks and months but I do not think it would be right for me to try and be the captain that steers our country to its next destination.

“This is not a decision I have taken lightly but I do believe it is in the national interest to have a period of stability and then the new leadership required.