David Cameron has resigned as Prime Minister after Britain voted to leave the European Union, reports The Telegraph.

With the Leave campaign securing 52 per cent of the vote, Mr Cameron addressed the nation in an emotional speech outside 10 Downing Street to announce that he would be stepping down.

While England voted overwhelmingly for Brexit, Scotland and Northern Ireland backed Remain. Statements are expected to be made by Sinn Fein and the SNP later today calling for a breakaway from the Union. London backed Remain but the turnout was lower than expected because of bad weather.

Meanwhile on the market, the FTSE 250 index has plunged a whopping 11.7pc. The index of so-called mid-cap companies had dropped an astonishing 2,017 points to 15,309 in the first few minutes of trading.