David Cameron has resigned as Prime Minister after Britain voted to leave the European Union.

With the Leave campaign securing 52 per cent of the vote, Mr Cameron addressed the nation in an emotional speech outside 10 Downing Street to announce that he would be stepping down.

While England voted overwhelmingly for Brexit, Scotland and Northern Ireland backed Remain. Statements are expected to be made by Sinn Fein and the SNP later today calling for a breakaway from the Union. London backed Remain but the turnout was lower than expected because of bad weather.

Meanwhile on the market, the FTSE 250 index has plunged a whopping 11.7pc. The index of so-called mid-cap companies had dropped an astonishing 2,017 points to 15,309 in the first few minutes of trading.

In a speech outside 10 Downing Street he said:

"The British people have voted to leave the EU and their will must be respected.

The will of the British people is an instruction that must be delivered.

There can be no doubt about the result.

Across the world people have been watching the choice that Britain has made.

This will require strong, determined and committed leadership.

I am very proud to have been Prime Minister of this country for six years.

I have held nothing back. 

The british people have made a very clear decision to 

I think the country requires fresh leadership.

I do not think I can be the captain to take the country to its next destination.

In my view I think we should have a new prime minister in place by the start of the Conservative conference in October."