Boris Johnson is addressing the nation.
He said it is “clearly now the will” of the parliamentary Conservative Party that there should be a new leader.
Announcing his resignation in Downing Street, he said: “It is clearly now the will of the parliamentary Conservative Party that there should be a new leader of that party and therefore a new prime minister.
“And I’ve agreed with Sir Graham Brady, the chairman of our backbench MPs, that the process of choosing that new leader should begin now and the timetable will be announced next week.
“And I’ve today appointed a Cabinet to serve, as I will, until a new leader is in place.”