Britain’s Prime Minister David Cameron said on Friday that he would resign by October after voters decided in a historic referendum to leave the European Union.

“I do not think it would be right for me to try to be the captain that steers our country to its next destination,” Mr Cameron told reporters outside his Downing Street office.

Mr Cameron, who choked back tears, gave no detailed timetable but said there should be a new leader by the time his Conservative Party holds its annual conference in October.

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

b’Source: Reuters’

“I think it’s right that this new Prime Minister takes the decision about when to trigger Article 50 and start the process of leaving the EU.”

  Mr Cameron also congratulated the Leave camp, which won 52 per cent of votes in a closely fought contest.

“The will of the British people is an instruction that must be delivered,” he said.

The Cabinet will meet on Monday and a timetable for Mr Cameron to step down will be drawn up.