Following the clear instructions from the UK voters to leave the EU Prime Minister David Cameron feels the country needs new leadership to carry out voters instructions.

He said "it's not a decision he's taken lightly but he does believe that it's in the nations interests to have period of stability then new leadership is required".

He believes the aim should be to have a new leader in place before the start of the Tory party conference in October.

He will remain for the next three months. Article 50 would not be triggered until the new leader takes up their position. Throughout the campaign David Cameron had said he would not need to leave office as he had an election mandate which included steering the UK past the referendum vote. He had also said that article 50 would be immediately revoked.

The UK's Prime Minister's decision to leave is likely to invoke an early UK election which could add to Brexit uncertainty amongst the markets which will have a serious effect on our economy.

Next week he will explain the UK's decision to the European Parliament.