The Prime Minister has announced he will resign after Britain voted to leave the European Union.
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David Cameron, who came to power in 2010, will step down as party leader at some point this summer, with a new Conservative leader in place by October.
In a speech outside Number 10 this morning, he said: "In a giant democratic exercise, over 33m people from England, Scotland, Wales, Northern Ireland and Gibraltar have all had their say.
"We should be proud we trust these people with these decisions.
"There are times when it is right to ask the people themselves.
"The British people have voted to leave the EU and their will must be respected.
"Let me congratulate all those who took part in the leave campaign.
"I am very proud and honoured to have been leader for six years
"I am grateful to everyone who has made that happened. I have always believed we have to confront big decisions not duck them. It is why we delivered a fair, legal and decisive referendum in Scotland and it is why we negotiated on the EU and we held the referendum.
"I held nothing back. I was clear about my belief that Britain in stronger, safer and better off inside the EU.
"The British people have made a very clear decision and as such I believe the country needs new leadership.
"I do not think it would be right for me to try to be the captain that steers our country to its new destination.
"There is no need for a precise timetable but we should have a leadership contest in place by the next Conservative conference in October."
Mr Cameron said he "loved this country" and would do everything he can to make it succeed.
He reassured those living in this country from other countries that there would be no initial changes in their residency and also said there would be no changes to travel or import and export.
Mr Cameron said there would be full engagement with the governments of Wales, Scotland and Northern Ireland to negotiate the process of leaving the EU.
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