PRIME Minister David Cameron has announced he is to resign from No. 10 in the wake of the referendum.

Mr Cameron had urged the UK to vote to remain in the European Union in the build-up to yesterday’s vote but announced his decision just hours after confirmation the electorate had chosen to leave.

Although no specific time frame was set in place by the PM, he indicated he would hope to see a new leader by the time of the Conservative party conference in October.

Speaking at Downing Street, he said: “I was absolutely clear about my belief that Britain is stronger, safer and better off inside the European Union.

“But the British people have made a very clear decision to take a different path and as such I think the country requires different leadership to take it in this direction.

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

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

“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.”

His resignation will see an end to the Conservative leader’s time in office, six years after he replaced Labour’s Gordon Brown in 2010.