David Cameron has stepped down as Prime Minister following the UK's definitive vote to leave the European Union.
In a statement given this morning on the steps of 10 Downing Street, Cameron says: "I have always believed that we have to confront big decisions, not duck them.
“It’s why I made the pledge to bring the vote on the EU referendum.
“I held nothing back. I was absolutely clear about my belief that Britain is stronger and better off inside the European Union.
“But the British people have made a very clear decision to take a different path. As such, the country requires fresh leadership. I do not think it would be right for me to be the captain that steers our country to its destination."
Cameron says the Government should aim to have a new Prime Minister in place by the start of the Conservative Party conference in October.
He says: “Delivering stability will be important and I will continue in post as Prime Minister with my Cabinet for the next 3 months. The Cabinet will meet on Monday.”
“It is right that this new Prime Minister takes the decision about when to trigger Article 50 and start the formal and legal process of leaving the EU. I will attend the European Council next week to explain the decision the British people have taken and my own decision.”
Cameron sought to make several reassurances, including to markets and investors that the UK economy is “fundamentally strong”.
He adds: “I would also reassure Brits living in European countries, and European citizens living here, that there will be no immediate changes in your circumstances. There will be no initial change in the way our people can travel, in the way our goods can move or the way our services can be sold.”