David Cameron to quit after UK votes to leave EU
June 24, London: British Prime Minister David Cameron has said he will step down by October after the UK voted to leave the European Union.
Speaking outside 10 Downing Street, he said he would attempt to "steady the ship" over the coming weeks and months but that "fresh leadership" was needed, reports said.
The PM had urged the country to vote Remain in EU. But it was defeated by 52 percent to 48 percent despite London, Scotland and Northern Ireland backing staying in.
UKIP leader Nigel Farage hailed it as the UK's "independence day".
The pound fell to its lowest level against the dollar since 1985 as the markets reacted to the results.
Flanked by his wife Samantha, Cameron said he had informed the Queen of his decision to remain in place for the short term and to then hand over to a new prime minister by the time of the Conservative conference in October, BBC reported.
It would be for the new prime minister to carry out negotiations with the EU and invoke Article 50 of the Lisbon Treaty, which would give the UK two years to negotiate its withdrawal, he said.
Cameron said: "The British people have voted to leave the European Union and their will must be respected."
The Oslo Times International News Network