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British Prime Minister to Step-Down Wednesday

Mrs Leadsom’s surprise announcement left Mrs May, who had been the front runner, as the only remaining candidate to take over the leadership of the Conservative Party and, therefore, also become prime minister.

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May was confirmed as the next Conservative leader on Monday after her only rival Andrea Leadsom dropped out of the race.

She said a lengthy leadership race would be “highly undesirable”.

“She is strong, she is competent, she’s more than able to provide the leadership the country is going to need in the years ahead, and she will have my full support”.

In a speech earlier on Monday in the city of Birmingham, May said there could be no second referendum and no attempt to rejoin the European Union by the back door.

“Tomorrow I will chair my last Cabinet meeting”, Mr Cameron said outside Downing Street.

Northern Ireland Secretary Theresa Villiers – one of a handful of Cabinet ministers who backed Leave – said she trusted Mrs May “absolutely” as she arrived at 10 Downing Street.

The chances of Article 50 never being triggered are higher than ever, after Theresa May was announced as the next Prime Minister, bookmakers say.

She has portrayed herself as the leader who can unite the country following a bitterly divisive campaign, and a tough negotiator who can stand up to Brussels in what promises to be tortuous dialogue over Britain’s exit from the European Union.

Cameron was to face MPs in parliament for a final time on Wednesday in the weekly prime minister’s questions session, before meeting Queen Elizabeth II to tender his resignation to the head of state.

Home Secretary Theresa May on a visit to Kent – Gravesham MP Adam Holloway is supporting her leadership.

Her significant support among Conservatives at Westminster was illustrated by MPs banging their desks after the news was announced. She said “the interests of our country are best served by the immediate appointment of a strong and well-supported prime minister”.

Mrs Leadsom had apologised to Mrs May on Monday after suggesting in a weekend newspaper interview that being a mother made her a better candidate for the job.

Of the referendum, she added: “This vote was a message for millions in our country who felt that no one had listened to them for a very long time”.

But unlike Thatcher, May is seen as a relative political moderate and on Monday she promised to address inequality, give workers greater representation on corporate boards and limit tax cuts.

The pound has rallied against the dollar in the wake of the news that May would become prime minister, bringing a measure of political stability sooner than expected.

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Even so, May might be tempted to go to the polls to confirm her own mandate, and because the main opposition Labour Party is in the midst of a leadership struggle that puts it in a weak position.

UK candidate Leadsom drops out of PM race, leaving only May