David Cameron has announced that he intends to resign as prime minister and Conservative party leader after Britain voted to leave the European Union.
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Graham Brady, chair of the “1922 committee” of Conservative MPs, said the group had recommended the leadership contest begin next week and conclude no later than September 2.
It was a move that backfired spectacularly and led to the dramatic announcement that he’ll quit as Britain’s prime minister in the aftermath of the Brexit vote – an era-defining moment that will no doubt lead to him being remembered for generations to come as the man who took the country out of the European Union.
The Leeds Central MP said there was “widespread” worry among Labour MPs and in the shadow cabinet over Mr Corbyn’s ability to win a snap election in the wake of David Cameron’s resignation.
According to Odds Checker Boris Johnson is the favourite to be next Prime Minister with odds of 5/6.
Triggering a leadership battle that could draw in some of his closest advisers, Cameron urged ministers to work together in the meantime.
David Cameron’s Cabinet colleagues said they had hoped he would stay on to steer Britain through its renegotiations with the EU.
The Sunday Times claimed Mr Osborne was manoeuvring to ensure a woman had to be one of the two candidates selected by MPs who then go on to a leadership run-off decided by party members.
Cameron agreed to the referendum because he hoped it might silence members of his own Conservative Party who are skeptical of the 28-nation political bloc’s ability to meet British demands on immigration and self-determination.
His sudden decision to step down, which many thought inevitable given the surprise outcome of the in-out EU Referendum, comes only a year after he led his Conservative Party to a surprise parliamentary majority.
Announcing his resignation outside Downing Street, Cameron said a new leader should be in place by October.
An MP has tabled a motion of no confidence in him following the result after many traditional Labour areas backed Brexit.
Mr Cameron would now be “a hostage” to his pro-Brexit MPs, who will make sure they seize “key positions”, he said.
But his decision also raised questions about his legacy, especially given his role in passing a series of harsh austerity policies that some “leave” campaigners had argued could end if Britain voted to leave the EU.
However, Johnson’s remarks came under fire from both from Brexiteers accusing him of backtracking on campaign promises, and Remainers who accused him of exploiting populist concerns purely for the goal of becoming the next Prime Minister.
He resignation was perhaps inevitable – a man who said that leaving the European Union would be like “putting a bomb under our economy” was never going to be able to negotiate the country’s exit.
Knowing that he can not realistically ignore the demands that he step down, the Prime Minister seeks to buy some time by announcing his intention to step down as Conservative leader, possibly in time for his successor to be unveiled at a special party conference in the autumn.
Nicky Morgan: The education secretary is reported to be taking soundings on whether to throw her hat into the ring, saying it would “be good” to have a woman in the final two on the ballot paper.
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Former minister Ben Bradshaw told the BBC that Labour faces “wipe-out” in an expected autumn snap election if Mr Corbyn remains leader.
