Brexit as it happened: Leave vote leads to David Cameron resignation as Jeremy Corbyn faced calls to quit

David Cameron announced he would resign as prime minister at the Conservative Party conference in OctoberGetty
German Chancellor Angela Merkel leaves after speaking to the media following the United Kingdom's referendum vote to leave the European UnionGetty
Boris Johnson speaks following the results of the EU referendum at Westminster TowerGetty
Britain's national press react to the BrexitGetty

The UK is coming to terms with tearing up its European Union membership after voters backed a Brexit at the ballot box on Thursday. The result sparked a series of momentous events starting with the pound plummeting against the dollar and David Cameron announcing he would resign as prime minister.

Elsewhere:

Ramifications of historic Leave vote are dire for UK's political classIBTimes UK


That's it from us. The IBTimesUK live blog is retiring, bowing out graciously after 48 hours or so of furious, high-tempo Brexit reporting. Keep checking the site for news and views throughout the evening. Goodnight all.

Britain's trade unions have rallied around Jeremy Corbyn as momentum builds behind a no confidence vote in the Labour leader.

Jeremy Corbyn has urged Dame Margaret Hodge to withdraw her no confidence motion in him during an interview on Channel 4 News.

"Is it really a good idea to start a big debate in the Labour party when I was elected less than a year ago with a very large mandate," he said.

IBTimesUK video team have put together an excellent primer on David Cameron's career as he stands down as Britain's prime minister.

David Cameron: A political careerIBTimes UK

It seems that some pro-Brexit voters are regretting their decision to vote Leave. Mandy Suthi said both her and her family voted Leave but 'now the facts were coming in' their 'eyes had been opened'.

Brexit: Leave voter admits she would 'vote differently' after EU referendum falloutIBTimes UK
https://d.ibtimes.co.uk/en/full/1527442/img.png
Brexit: Leave voter admits she would 'vote differently' after EU referendum falloutIBTimes UK

The mind boggles...

European far-right parties have praised the UK's decision to abandon the EU, hoping their countries will follow suit and have their own referendum. Marie le Pen, leader of the National Front in France, has hailed the UK's Brexit as a "Victory for Freedom!"

Le Pen, whose anti-immigrant party is considered the third force in French politics after receiving 29% of the nationwide vote during last year's regional elections, added: "That which no-one dared to dream about a few months back is now a reality which is clear to everyone: yes, it's possible to leave the EU."

Ewan Palmer reports.

As a petition for a second referendum on Brexit gathers steam (with 150,000 signatures at last count) Team Corbyn has put out its own vote of confidence in the Labour leader as pressure mounts for him to follow David Cameron in resigning.

Our reporter Elsa Buchanan has been looking at how the Brexit vote has gone down over the water in France.

Sarah Palin has waded into the Brexit debate to congratulate Britain on voting to Leave the EU and, in her words, hit back against the "apocalyptic One World Government". Make of that what you will.

Meanwhile a Donald Trump speech in Scotland has been interrupted by a man handing out 'Nazi golf balls' so...

Odds of a UK recession, 0% interest rates and wider global economic malaise have risen considerably following a decision to exit the European Union by British voters, according to economists.

Jason Schenker, president of Prestige Economics, told IBTimes UK that the impact on the UK economy is likely to be significant, and the domino effect on eurozone and global economies is likely to be negative as well.

Gaurav Sharma reports.

For some in Britain's Arab community, the United Kingdom's historic decision to leave the European Union translates into a rise of far right sentiment, something with which the Leave campaign increasingly became associated.

The issue of migration has rocked other parts of Europe, more so since thousands of refugees and migrants, some of them fleeing conflicts in Syria, Iraq and Afghanistan, began making their way to Europe last summer.

Carmen Cracknell reports.

Greek media reports that the neo-fascist Golden Dawn party has welcomed Britain's vote to Leave the EU.

"Golden Dawn welcomes the brave decision of the British people to deny the 'crows' of Brussels and the financial oligarchy of Germany," the party's press spokesman Ilias Kasidiaris said.

The move has also been welcomed by France's Front National leader Marine Le Pen.

This poignant letter to the Financial Times has been widely shared by Remain voters in the last few hours.

Away from Britain, all eyes will be on Spain on Sunday where leftist coalition Unidos Podemos could be poised to make huge gains in the country's latest general election.

Unidos Podemos - which translates 'Together We Can' - has already challenged Spain's entrenched two party system by gradually rising from a grassroots movement to a major political force.

A poll last week had Podemos winning 25.6% of the vote, fractionally less than the conservative PP party and marginally above the socialist PSOE, on 20.2%.

German Chancellor Angela Merkel speaks to the media following the United Kingdom's referendum vote to leave the European Union in BerlinCarsten Koall/ Getty Images

The German government is reportedly pushing for the EU to sign an association agreement with Britain. The deal would outline trading rules and other regulations including possible tariffs on certain goods or services.

According to German financial paper Handelsblatt, Germany is keen to make a deal with an independent Britain but does not want to make too many concessions for fear it may spark similar In/Out referendums across the continent.

Elsewhere, the paper claimed the Brexit could cost Germany €3bn (£2.4bn, $3.3bn), to cover Britain's contribution to the European budget, which would have have to be funded by other EU countries.

Traders work on the floor of the New York Stock ExchangeGetty Images

Worries on Wall Street

The Dow Jones Industrial Average dropped 500 points in early morning trading as the Brexit continues to cause havoc in financial markets.

The S&P 500 shed 2.6% in New York - the most in four months - and the Nasdaq Composite Index lost 3%.

Matt Smith, director of StartUp Britain, said the start-up community would benefit from the BrexitGetty

Brexit boon for start-ups

FTSE 100 companies may have been cut down to size today but the start-up community could benefit following the Brexit.

Matt Smith, director of StartUp Britain and of the Centre for Entrepreneurs think-tank, said entrepreneurs should not fear leaving the EU.

"Britain is a great entrepreneurial nation that has always been prepared to take risks for its long term future. There is no better country in which to start a business, and that's as true today as it was yesterday - and it will be even more true tomorrow.

"The world's entrepreneurs have always been welcome in the UK and our expectation is that, far from diminishing that welcome, this result will prove to
be a fantastic boon for it."

Irish Taoisearch Enda Kelly said he was sorry about the result of the referendum but added he respected the decision of the British public.

He added reassurances to the Irish public that they had prepared for Brexit and there would be no change in the flow of people or goods between the two islands.

"We have engaged in detailed contingency planning for this result," he said.

Morgan Stanley has reportedly begun the process of moving 2,000 investment banking staff out of London to either Dublin or Frankfurt, BBC reports.

German Chancellor Angela Merkel gives a statement in Berlin, after Britain voted to leave the European UnionHannibal Hanschke/ Reuters

German Chancellor Angela Merkel has warned against a knee-jerk reaction to Britain's decision to leave the EU after 43 years. In a televised address, Merkel instead appealed for a "calm and measured" approach from the EU, but admitted that she "deeply regrets" the decision of British voters, IBTimes UK's Romil Patel reports.

MP Margaret Hodge explains why the motion of no confidence in Jeremy Corbyn has been submitted.

Democratic presidential candidate Sen. Bernie Sanders (I-VT), speaks during a campaign rally at Robert F. Kennedy Memorial Stadium in Washington, DCMark Wilson/ Getty Images

US politician Bernie Sanders has spoken out after Brexit.

In an interview with MSNBC, he said: "What worries me very much is the breaking down of international cooperation.

"Europe in the 20th century as we all know, the kind of blood that was shed there is unimaginable and you never want to see that again.

"On the other hand i think what this vote is about is an indication that the global economy is not working for everybody."

How has the vote affected Europeans living in the UK? IBtimes UK reporters speak about their feelings after UK voted in favour of Brexit

British businesses will have to adapt to the "momentous turning point" brought upon by the European Union referendum, the Confederation of British Industry (CBI) said on Friday (24 June).

A petition calling for a second EU referendum has more than 112,000 signatures and is proving so popular it crashed the Parliament petitions website.

It states: "We the undersigned call upon HM Government to implement a rule that if the remain or leave vote is less than 60% based a turnout less than 75% there should be another referendum."

A petition to keep London in the EU separately from the rest of the UK has been started on Change.org.

The petition was started several hours ago and currently has around 6,000 signatures.

Watch far right politician Marine Le Pen's reaction to the Brexit vote.

Marine Le Pen on Brexit 'This day is one of joy'Reuters

We've compiled the reactions of scientists and istitutions to Brexit, reports IBTimes UK's Hannah Osborne

Labour MPs Margaret Hodge and Ann Coffey have submitted a motion of no confidence in Labour Party Leader Jeremy Corbyn.

The motion will be discussed on Monday and, if the PLP chairman decides the issue should be debated, MPs will hold a secret vote on Tuesday, the BBC reported.

A motion of no confidence in Labour Party leader Jeremy Corbyn has been tabled.

Bringing much worry on the other side of the Channel, the Brexit vote has cast a shadow over the relations between France and Britain, reports IBTimes UK's Elsa Buchanan.

France's Foreign Minister Jean-Marc Ayrault was the first Elysee official to react to the news, saying that"Europe continues but it must react and regain the confidence of the people. This is an emergency". On hisTwitter account, the minister said he was "sad for the UK".

Nicola Sturgeon said she was proud of how Scotland had voted, adding many Scottish people voted to remain with the UK in the Scottish independence referendum in order to stay in Europe.

Taking questions from the press, she added a second Scottish referendum was "highly likely".

She also paid tribute to David Cameron, despite their political differences and the way the Leave campaign was run, which she said was "based on fear".

Nicola Sturgeon has said a second Scottish referendum is on the table.

Matt Frost/ ITV/ Getty Images

First minister of Scotland Nicola Sturgeon said the people of Scotland had voted to remain in the UK to guarantee their place in the EU - something that was no longer the case

"As things stand, Scotland faces the prospect of being taken out of the EU against our will," she said.

The majority of people in Scotland voted in favour of Remain, and Sturgeon said she would discuss "all options" to stay in the EU.

She added the Leave vote showed a divergence between Scotland and the rest of the UK in terms of where they saw themselves in the world.

Cameron's great referendum gamble has backfired disastrously, says IBTimes UK columnist Michael Toner.

Michael Gove, speaking at Vote Leave HQ has called Brexit "a process", stating it is important that people from both sides of the debate, and outside politics, are involved in shaping the future.

"We can have democratic consent for an immigration policy that is fairer and more humane," he said.

"We can take our place as a self-governing democracy alongside other great nations," he added.

Leave campaign leader Boris Johnson leaves his home after Britain voted to leave the European UnionPeter Nicholls/ Reuters

Boris Johnson has called David Cameron "one of the most extraordinary politicians of our age" in a speech at Vote Leave HQ, paying tribute to the prime minister, who announced his resignation earlier today after news of Brexit broke.

He added: "It was entirely right and inevitable" to have a referendum, stating that was the only way to deal with such a big decision about the destiny of Britain.

Johnson added "there is no need for haste" stating "nothing will change over the short term" but that work would begin on moving forward with the Brexit decision.

To the Remain voters, Johnson said: "We cannot turn our backs on Europe, we are part of Europe. Our children and our grandchildren will continue to have a wonderful future as Europeans."

He added: "In my view, as a result of this Britain will continue to be a great European power."

The EU "was a noble idea for its time, but is no longer right for this country" he said.

Boris Johnson pays tribute to 'extraordinary' David Cameron in victory speechReuters

Vote Leave chair Gisela Stuart said in a speech: "We will be a good neighbour, we will be a good internationalist but we will have taken back control of our democratic institutions."

UKIP leader Nigel Farage has won in more ways than one today as he stands to collect his winnings from Ladbrokes, where he bet £1000 on a Leave win at the beginning of June.

He placed his bet in Ladbrokes Moorgate branch, taking odds of 5/2 - meaning he is due to collect £3,500 from his win.

Boris Johnson, Michael Gove and Vote Leave chair Gisela Stuart will be speaking at Vote Leave HQ in Westminster at 11am but have stated they won't be taking questions from the press.

European Parliament president Martin Schulz has spoken after the Brexit vote.

European Parliament President Martin Schulz speaks about BrexitReuters

Green party leader Natalie Bennett said she hopes the Conservative leadership contest will not dominate politics at the expense of wider issues.

Natalie BennettGetty

The outgoing leader, who will be stepping down this summer, wrote on Twitter: "Right that Cameron should go. But important that coming weeks are not dominated by Tory leadership contest at expense of bigger questions."

Prior to Cameron's resignation, she wrote: "People have spoken&their alienation from politics as usual is clear. As are huge gulfs between communities. We need to acknowledge & rebuild (sic)."

We've rounded up some of the best Twitter reactions to the referendum

Brexit: Leave campaigner Boris Johnson booed outside London houseIBTimes UK

Boris Johnson, the former Mayor of London and now the bookies' favourite to replace David Cameron as Prime Minister in October, was booed outside his home as he caught a cab.

Johnson, a key Conservative figure in the Leave Campaign, is now expected to speak at 11:00.

Speaking on Sky News, former British Prime Minister Tony Blair has said he is very sad for Britain, Europe and the world.

He stressed the need to stabilise the situation in the country following the Brexit vote.

Donald trump has hailed the UK for 'taking back their country'Reuters

Donald Trump has arrived to open his Scottish golf resort Trump Turnberry.

He has said he thinks the Brexit vote is a "fantastic thing" after previously saying he backed the Leave Campaign.

The press are waiting outside Boris Johnson's home, where he is expected to make a speech shortly.

Boris Johnson is favourite to become the next Conservative leader following David Cameron's resignation, according to William Hill.

Boris Johnson at a live ITV debate on the EU referendum.Getty

The bookies also has Theresa May 7/2 second favourite, with Michael Gove 9/2, Andrea Leadson 12/1, Priti Patel and Stephen Crabb both 16/1; George Osborne, Philip Hammond and Sajid Javid all 20/1; Amber Rudd and Ruth Davidson both 25/1.

"The result was profitable for our political punters' said Hill's spokesman Graham Sharpe, "69% of all the money we took was for Remain, but 69% of all the individual bets were for Leave."

The pound has plummeted following a Brexit vote that has provoked instability in the markets.

Bank of England governor Mark Carney has said there had been contingency planning put in place ahead of the Brexit vote.

"Some market and economic volatility can be expected as this process unfolds," he said in a statement. "But we are well prepared for this. The Treasury and the Bank of England have engaged in extensive contingency planning and the Chancellor and I have been in close contact, including through the night and this morning.

"The Bank will not will not hesitate to take additional measures as required as markets adjust and the UK economy moves forward. These adjustments will be supported by a resilient UK financial system – one that the Bank of England has
consistently strengthened over the last seven years."

He added: "A few months ago, the Bank judged that the risks around the referendum were the most significant,near-term domestic risks to financial stability.

"To mitigate them, the Bank of England has put in place extensive contingency plans.
These begin with ensuring that the core of our financial system is well-capitalised, liquid and strong.

"This resilience is backed up by the Bank of England's liquidity facilities in sterling and foreign currencies. All these resources will support orderly market functioning in the face of any short-term volatility."

In announcing his resignation, David Cameron said he will continue in his post for the next few months, but said a new leader should be in place in time for the Conservative Party conference, which will be held in October.

The EU referendum has been another bruising night for the big pollsters, many of which were predicting a narrow win for Remain. Leave won by 52% to 48%, the reverse of the final poll by YouGov, released at 10pm on voting day. Turnout was nearly 72%, or 30 million people, better than anticipated, reports IBTimes UK's Shane Croucher.

There are rumours circulating in Westminster that at least one Labour MP intends to publicly call for Jeremy Corbyn to resign, following the Brexit vote.

Corbyn has also been criticised by Liberal Democrat leader Tim Fallon, who said: "When the call went out to Jeremy Corbyn, he refused to answer."

David Cameron is trending on Twitter having announced his resignation following the results of the EU referendum, which saw Brexit take the vote with 52%.

Cameron has resigned as UK prime minister stating 'I held nothing back' during the EU referendum vote and adding the vote was not about his future as a politician.

He did not give a timeline for his resignation, and will continue in his post for the next few months but said a new leader would be in place by October.

He added the new prime minister would take the decision as to when to trigger article 50 and set in place the steps to leave the EU.

David Cameron announces he will resignReuters

Cameron has resigned as UK prime minister stating 'I held nothing back' during the EU referendum vote and adding the vote was not about his future as a politician.

He did not give a timeline for his resignation, and will continue in his post for the next few months but said a new leader would be in place by October.

He added the new prime minister would take the decision as to when to trigger article 50 and set in place the steps to leave the EU.

Politicians around the world have reacted to the Brexit vote

Holidays to Europe may fall by up to 6 million, according to a poll by ComparetheMarket.com. The survey suggested 10% of people would be less likely to book a European getaway after the pound plummeted following the Brexit win.

Gemma Sonfield, Head of Travel at comparethemarket.com, said: "Now that the British people have voted to leave, and the pound has depreciated, it appears that there is little appetite to book a last minute holiday to the continent.

"Our research suggests that the number of UK holidays to Europe could fall significantly as a result of the outcome of the Referendum, with over one in ten (11%) UK adults saying that they would now be less likely to book a holiday to Europe. If this is the case, that may be more than six million people from the UK avoiding the beaches of the Mediterranean and possibly opting for a "staycation" instead."

Leader of the United Kingdom Independence Party (UKIP), Nigel Farage speaks during a press conference near the Houses of Parliament in central LondonGlyn Kirk/ AFP

Nigel Farage has dismissed claims that leaving the EU would result in £350m being funnelled into the NHS. The claim, which was made by the Leave campaign but not by Farage directly, was branded 'a mistake' by the UKIP leader on Good Morning Britain.

When asked if he could guarantee the money would be spend on the NHS, Farage responded: "No I can't, and I would never have made that claim. That was one of the mistakes that I think the Leave campaign made."

"We have a £10 billion, £34 million a day feather bed, that is going to be free money that we can spend on the NHS, on schools, on whatever it is."

He added he had been ostracised by the Leave campaign and as a result had "done my own thing".

Labour Party leader Jeremy Corbyn has said he will not resign following the decision of voters to back Brexit, Sky News reported.

Jeremy Corbyn says he won't resign despite Brexit resultITN

President of the European Council, Donald Tusk, is making a live statement about the Brexit vote. Click here to watch.

EU Council President, Donald TuskJohn Thys/ AFP

As people in the UK wake up to a victory for the Leave campaign, Google has reported an increase in searches about the country's future as well as a 500% increase in searches for buying gold as the pound plummets.

There has also been an increase in people Googling how to move to Gibraltar.

Sterling has fallen to decades-long lows against the US dollar as a Brexit grew likelier, having rallied initially as the last polls suggested a narrow lead for remain and kick-starting what is expected to be a highly volatile day on the financial markets.

French ministers are set to have an emergency meeting about the Brexit vote at 8am UK time chaired by Francois Hollande, PA reported.

Press have gathered in Downing Street, where David Cameron is expected to make a statement shortly after 8am this morning. Rumours abound he will be making a resignation speech, with UKIP leader Nigel Farage telling IBTimes UK's Ian Silvera after his victory speech that Cameron should resign 'immediately'.

Welcome to the Brexit live blog, where we'll be following the reaction in Westminster and across the world after the historic EU referendum, in which 52% of people voted to leave the EU.

© Copyright 2017 IBTimes Co., Ltd. All Rights Reserved.