David Cameron intends to stay on as Prime Minister to “carry out the instructions of the British people” after the dramatic vote in favour of withdrawal from the European Union, one of his most senior Cabinet colleagues has said.
In a political earthquake which sent shockwaves around the world, the referendum called by Mr Cameron produced an unexpected victory for Leave by a majority of 52% to 48%.
Ukip leader Nigel Farage declared June 23 “our independence day” and called for the Prime Minister to immediately stand down in response to voters’ rejection of his passionately-argued advice to stick in the EU.
But Foreign Secretary Philip Hammond told Sky News the Government’s job now was to get on with implementing the decision while “protecting the economy and doing all we can to get the best outcome for Britain”.
After the pound suffered one of its biggest ever plunges in value, the Bank of England said it would take “all necessary steps” to ensure monetary and financial stability in the wake of the Brexit vote.
Sterling slumped to lows last seen in 1985, losing more than 10% against the US dollar at one point, as traders responded with panic to the prospect of the UK quitting the European Union after 43 years.