New British Prime Minister to be in place by early September

He may have hoped to be remembered as the premier who rebuilt Britain’s battered economy and healed a nation’s wounds, but history is likely to record he left behind a divided party and set his country on a new, uncertain course outside the EU.

British Chancellor of the Exchequer George Osborne has publicly announced that he will not seek to replace David Cameron as the country’s Prime Minister, saying he does not want to be tasked with leading the government as it leaves the European Union.

Britain’s Prime Minister, David Cameron, addresses the House of Commons in London.

European nations have piled pressure on the United Kingdom to begin immediate talks on withdrawal from the EU after the vote for Brexit, with France’s foreign minister suggesting a new prime minister could be put in place within days.

In a blunt sign of Britain’s new status in the departure lounge of the European Union, it emerged leaders of the remaining 27 member states would meet to discuss the emergency situation without Mr Cameron present on Wednesday.

He said: ‘It would not be right for me to be the captain that steers our country to its next destination. The Conservative party is set to hold its annual conference in October this year, with Cameron expressing that the party is looking to have a new leader in place by that time. Asked whether he would stand in any leadership contest resulting from the no confidence motion tabled by Labour backbenchers, he replied: “Yes, I am here”.

When he seized the leadership of his party in 2005, Cameron was the fresh, young face on a exhausted old party.

The Times said Osborne is weighing up whether to support former London mayor and Brexit campaigner Boris Johnson – the current front-runner – in exchange for an appointment as foreign secretary.

Prominent Brexit backers in the Tory party also expressed concern about Mr Cameron’s plan to let the situation drift until he formally leaves Downing Street in October.

“As such I think the country requires fresh leadership to take it in this direction”, Cameron said.

– Other possibilities include two pro-European cabinet ministers: Nicky Morgan, the education secretary, and Stephen Crabb, the work and pensions secretary.

“It’s important that we don’t see everything through the prism of this referendum vote, said Tim Bale, a professor of politics at Queen Mary University in London”.

“I think a crucial thing that is going to have to be provided is fiscal responsibility – we now, at our cost, what happens when you lose control of the public finances… we are absolutely going to have to provide fiscal responsibility to people”.

Mr Cameron, who led the campaign for Britain to stay in the bloc, is under pressure from other European leaders to hurry up and file divorce proceedings by triggering the so-called Article 50 of the EU’s Lisbon Treaty.

It has been proposed that a result should be announced by 2 September at the latest (although the rules say it should be “announced as soon as practicable”).

He had already said that he would step down before the next election in 2020, and a number of Conservative lawmakers have positioned themselves as potential successors.

Te 48-year old journalist presented the most sobre, celebral face of “Leave” campaign.