EU referendum: Jeremy Corbyn sacks Hilary Benn from shadow cabinet 

Hilary Benn Jeremy Corbyn

                                                                                                    

6am Summary

Hilary Benn has been sacked from his post as shadow foreign secretary by the Labour leader, Jeremy Corbyn.

Mr Benn was dismissed in a midnight phone call after it was disclosed that he had been orchestrating a mass resignation of shadow cabinet members to force Mr Corbyn to stand down.

It is understood he told the Labour leader that there was widespread concern in the party about its chances of winning an election under Mr Corbyn’s leadership.

Hilary Benn Credit: Jack Taylor/Getty images

“In a phone call to Jeremy I told him I had lost confidence in his ability to lead the party and he dismissed me," Mr Benn said.

While Mr Corbyn enjoyed strong support among thousands of activists who joined the party to elect him, Labour MPs had made little secret of their unhappiness at his becoming leader and his performance since taking on the post.

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In the wake of the EU referendum vote criticism of Mr Corbyn intensified as millions of grass roots Labour voters in the party’s industrial heartlands backed Brexit despite their leader's appeal for them to support remaining in Europe.

Jeremy Corbyn

The Labour leader’s performance was seen as lacklustre and Tony Blair, writing in the New York Times, accused Mr Corbyn of being “lukewarm” towards Europe.

Even before the dramatic sacking of Mr Benn, Mr Corbyn was facing a motion of no confidence in his leadership drafted by two senior Labour MPs, Dame Margaret Hodge and Ann Coffey.

Speculation has already begun on who might succeed Mr Corbyn, whose hold on the leadership is looking increasingly precarious.

Mr Benn, the Labour MP for Leeds Central and son of the late Labour left-wing icon, Tony Benn, is seen as a contender especially since his widely praised Commons speech in December backing calls for air strikes against Bashar al-Assad, the Syrian dictator. 

However Dan Jarvis, a former member of the parachute regiment and MP for Barnsley Central is seen as the favourite.

Mr Corbyn has made it clear that he will fight any attempt to unseat him.

But the rebels were urged to act by a number of MPs including Ben Bradshaw, the former Culture Secretary. 

He said: "The Labour shadow cabinet must now act to save the party and for the sake of the country. Otherwise we will never be forgiven." 

 

Unhappy Labour MPs make their feelings clear

MPs posting on Twitter are making little secret about their unhappiness with the state of the party under Jeremy Corbyn.

 

 Benn: 'no confidence' in winning election if Corbyn is leader

The  BBCis quoting Hilary Benn's version of how he was sacked, albeit via a Labour source

Mr Benn said there was "widespread concern" about Mr Corbyn's "leadership and his ability to win an election".

He added: "There is no confidence to win the next election if Jeremy continues as leader.

"In a phone call to Jeremy I told him I had lost confidence in his ability to lead the party and he dismissed me."

Blair: Corbyn 'lukewarm'  about remaining in the EU

Writing in the New York Times, Tony Blair has laid some of the blame for the Brexit triumph on Jeremy Corbyn.

He said the right of the Conservative party joined forces with UKIP to capitalise on immigration fears.

Pointedly he added: “This strategy could not have succeeded, though, without finding common cause with a significant segment of Labour voters.

Tony Blair

“These Labour supporters did not get a clear message from their own party, whose leader, Jeremy Corbyn, was lukewarm about remaining in the union.” 

Speculation starting on Corbyn's successor

As the move to unseat Jeremy Corbyn gathers momentum, speculation has already started over who might succeed him. Early contenders include Tom Watson, the deputy leader, Angela Eagle the shadow business secretary and Yvette Cooper who was shadow home secretary under Ed Miliband.

Dan Jarvis while serving as a para Credit: Keith Waldegrave/Shutterstock

Many bookmakers have Mr Benn as second favourite for the leadership if Mr Corbyn is forced out, behind Dan Jarvis, a former member of the parachute regiment who entered parliament as MP for Barnsley Central at a by-election in 2011.

Supporters of Tony Benn still siding with Corbyn 

Followers of Hilary Benn's late father, Tony, are siding with Jeremy Corbyn.

 

Benn seen as potential party leader following Syria speech in December 

While other senior Labour figures stepped down from the shadow cabinet after Mr Corbyn won the party leadership, Mr Benn agreed to remain on the front bench becoming shadow foreign secretary,

But there was reportedly tension between the two men especially after Mr Benn’s passionate speech last December urging MPs to back air strikes on Syria. Widely praised on all sides of the Commons, the oration was seen as an act of defiance against Mr Corbyn. 

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It was also seen by some observers at Westminster as marking out Mr Benn as a potential Labour leader.

Corbyn faces criticism over Benn sacking

Two Labour MPs, including one shadow minister,  have already spoken out about Mr Benn's sacking.

Shadow housing minister Roberta Blackman-Woods said: "This is sad news indeed and I cannot understand how Jeremy thinks it will help his worsening position with the PLP."

 Wes Streeting added: "Lots of good people chose to serve in shadow cabinet to keep the show on the road. There are no longer good reasons for good people to stay."

George Galloway rounds on Hilary Benn

Left-wing activist George Galloway has rounded on Mr Benn for his reported attempts to orchestrate a leadership coup.

 

Mr Corbyn’s position 'untenable'

It is understood that an overwhelming majority of the shadow cabinet believe that Mr Corbyn should resign having failed to persuade millions of rank and file Labour voters to back remaining in the EU.

The remain campaign fared particularly badly in Labour’s heartlands in northern England, Wales and the Midlands

One other shadow cabinet member said Mr Corbyn’s position was untenable. Those calling for Mr Corbyn to go included Stephen Kinnock, son of the former Labour leader Lord Kinnock.

According to the paper a leaked internal party document showed that 29 per cent of voters who backed Labour in 2015 intended to support another party if a General Election was held today.

But John McDonnell, the shadow chancellor and a key Corbyn ally, said Labour should avoid unnecessary infighting.

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Benn 'orchestrating mass resignation of Corbyn's senior team'

It is thought that Mr Benn is orchestrating a mass resignation of Mr Corbyn's senior team in a bid to remove the Labour leader

Mr Benn is understood to have called shadow cabinet ministers on Saturday afternoon to ask for their support to demand Mr Corbyn's resignation and to gauge numbers for a planned mass resignation if he refuses to step down. 

It came as Mr Corbyn accused Labour voters who backed Brexit because of concerns about EU migration of "lacking understanding" of the way migrants "enrich" the UK, prompting fury among MPs. 

Hilary Benn, David Cameron and Jeremy Corbyn paying tribute to Jo Cox last week Credit: Getty

At a speech in London on Saturday Mr Corbyn, who had been criticised for his lack of commitment to the EU referendum campaign, also said free movement of people will continue despite the UK's decision to leave. 

His remarks prompted Labour MPs to accuse the leader of a "complete lack of understanding" of immigration while a shadow cabinet member said the speech makes his position as leader "untenable". 

Another senior MP said Mr Corbyn "can't stand back and say this is nothing to do with him", adding: "If we go into a snap election this year with him as leader we will be toast".

Labour MPs will debate Mr Corbyn's future during a tense meeting on Sunday night and a no-confidence vote will be held on Tuesday, it is understood. 

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Hilary Benn sacked by Jeremy Corbyn as shadow foreign secretary

Jeremy Corbyn has sacked Hilary Benn after reports the shadow foreign secretary was planning to spearhead a coup against the leader.

In a midnight telephone call, Mr Corbyn told the Leeds Central MP he was kicking him out of the top team.

It follows reports that Mr Benn called fellow MPs over the weekend to take soundings about a putsch.

A Labour spokesman said: "Jeremy has sacked him on the grounds that he has lost confidence in him."

Hilary Benn Credit: Getty

 

Surge in support for independence in Scotland, poll finds

Nearly 60 percent of Scots now support Scottish independence after Britain voted to leave the European Union this week, according to an opinion poll.

The Sunday Post said 59 percent of respondents in the poll backed independence from the United Kingdom. That was sharply higher than the 45 percent of votes cast in favour of independence at a referendum in 2014 which resulted in the country staying in the UK.

 

Douglas Carswell MP: 'No need to rush Brexit' 

Speaking on Newsnight, the Ukip MP says:

Article 50 is basically just a stopwatch and once you press the stopwatch, you've got 24 months. Why rush it? We've waited 40 years to get this right. Why give ourselves an artificial deadline?

 

2.3 million sign parliamentary petition

A petition on the parliament website calling for a rerun of the EU referendum has gathered more than 2 million signatures in just over 24 hours.

This means  the campaign has overtaken the 2007 Downing Street petition urging the Government to abandon plans for pay as you go road pricing which attracted 1.8 million signatures.

 

George Soros says 'Brexit' means 'disintegration' of EU

Billionaire investor George Soros said on Saturday that Britain's vote to leave the European Union makes "disintegration of the EU practically irreversible," and that the effects of Thursday's referendum will likely damage Britain.

"Britain eventually may or may not be relatively better off than other countries by leaving the EU, but its economy and people stand to suffer significantly in the short to medium term," he wrote in a commentary on the website Project Syndicate.

Soros made huge profits in 1992 by betting against the British pound as it was withdrawn from the European Exchange Rate Mechanism.

Farage responds to Lammy proposal

Nigel Farage has responded to the suggestion from David Lammy, the Labour MP, that Parliament could step in and block Brexit:

 

George Osborne urged to resign after 'scorched earth' referendum campaign

George Osborne is being urged to resign by eurosceptic ministers after being accused of adopting a "scorched earth" policy during the referendum campaign, Steven Swinford and Kate McCann report.

Mr Osborne, who on Monday is expected to appear in the Commons for the passing of the finance bill, has indicated that he will stay on and do "all I can to make it work".

The prospect of him remaining as Chancellor until the election of a new Conservative leader has infuriated eurosceptic ministers, who accused him of "scaremongering" and of announcing an "irresponsible" emergency Budget during the campaign.

The Chancellor faced an open revolt from more than 60 Conservative MPs after he threatened an emergency fiscal plan in the wake of a Brexit vote during the final weeks of the campaign, including £30million worth of tax rises or cuts.

Read the full story.

Jeremy Corbyn heckled during Gay Pride event in London

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David Lammy MP: We don't have to do this

David Lammy, the Labour MP for Tottenham, has claimed that "we can stop this madness and bring this nightmare to an end" by holding a vote in Parliament on whether the referendum result should be upheld.

 

Sadiq Khan refuses to be drawn into Corbyn leadership row

Labour mayor of London Sadiq Khan said he did not want to be drawn into a "running commentary on Jeremy Corbyn's future".

Asked if he supported the party leader, Mr Khan said: "Jeremy Corbyn won a big mandate last year, he's got a big job to do."

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Cameron's resignation most tweeted-about event of EU referendum

David Cameron's resignation was the most tweeted-about event surrounding the EU referendum, analysis from Twitter shows.

Approximately 13,300 tweets were sent per minute as the Prime Minister made his speech following the historic decision to leave, according to the social network.

David Cameron resigns Credit: Xinhua / Barcroft Images 

Twitter's #EURef data hub shows that Mr Cameron was by far the most tweeted-about politician of the campaign, followed by Nigel Farage.

Michael Gove avoids questions about invoking Article 50 

Many Leave campaigners are in no rush to start the clock ticking on the two-year process to get Britain out of the EU.

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Corbyn heckled by Labour activist at Pride parade

During a visit to the London Pride parade, Jeremy Corbyn was heckled by a Labour activist calling for him to resign over his failure to get out the party's voters for Remain in the north of England, the Midlands and Wales.

In a video circulating on social media, party member Tom Mauchline can be seen shouting: "It's your fault, Jeremy. When are you resigning? You need to resign."

Mr Corbyn can be seen replying: "I did all I could."

Mr Mauchline later told the Press Association: "I didn't come here intending to do this. I didn't know he was going to be there. We were given 15 minutes' notice that he was coming and it made me so angry. It just seemed like a cynical attempt to use the LGBT community to shore up his weak leadership."

If Boris does win leadership, he has a tough task on his hands

More money for the NHS? Bringing down immigration figures?

There are plenty of people waiting to hold the former Mayor of London to account if he becomes PM.

Cameron allies rally around Theresa May for leadership bid

David Cameron's allies are said to be supportive of any leadership bid that home secretary Theresa May chooses to make.

Theresa May Credit: Eddie Mulholland/Telegraph 

They are keen to try and stop Boris Johnson from becoming the next Tory leader.

"I would find it all but impossible to have him as my leader," a senior Tory source told The Times.

“I don’t know if he can be prevented from making it to No 10 but many of us are willing to try.”

'Boris would call an immediate general election'

Some confident noises are apparently coming for the Boris Johnson camp, with this tweet from Sam Coates, of The Times, suggesting that he would call a general election "immediately" if he became Prime Minister by being selected as the next Conservative Party leader.

The tweet was quickly followed up by this denial from sources close to Mr Johnson, but it does make you wonder.

'No chance' of a second EU referendum

A huge petition calling for a new EU referendum has no chance of reversing this week's historic vote to leave, Britain's foremost elections expert has said.

Professor John Curtice, whose exit poll was the only one to predict the Conservatives would win last year's general election, said the subject was so divisive within mainstream political parties and their supporters that it would be unlikely to form a campaigning issue for some time - let alone spark another public vote.

Thursday's referendum saw 17.4 million (51.9%) votes cast to leave the EU, compared with 16.1 million (48.1%) for remaining part of the bloc, with a turnout of 72.2%, according to the Electoral Commission.

In response, more than a million people have signed an online petition calling for the Government to implement a rule that "if the Remain or Leave vote is less than 60% based on a turnout less than 75%, there should be another referendum".

The petition passed the seven-figure landmark just over 24 hours after the referendum result was confirmed.

Prof Curtice said: "How many people voted in favour of Leave? Seventeen million. One million is chicken feed by comparison.

"It's no good people signing the petition now, they should have done it before. Even then, these petitions don't always mean a great deal.

"It has passed the 100,000 mark for it to be debated in Parliament. All that means is that some MPs will say, 'It's a terrible shame', others will say, 'Hallelujah'. Then that's the end of it.

"Mainstream political parties have been divided on Europe. The parties' supporters have been divided. Nobody is going to want to campaign prominently on this."

The professor of politics at the University of Strathclyde added: "If Boris Johnson is running the Government and if (disengagement from the EU) is taking a long time to be implemented, two years down the line we could have another poll showing people actually want to reverse the decision and remain in.

"Then there could be a situation where the opposition party in a general election have a mandate to hold a new referendum on it."

Sturgeon 'agitating' for second independence referendum

Ruth Davidson, the Scottish Conservative leader, has accused Nicola Sturgeon of "agitating for an independence referendum rerun".

Responding to the First Minister's statement earlier today, Ms Davidson said: "What we need now is Scotland's two governments working together to ensure stability.

Ruth Davidson, the Scottish Conservative leader Credit: Chris Watt

"The SNP agitating for an independence referendum rerun will do precisely the opposite.

"The priority should be stabilising the economy, reassuring Scotland's businesses and protecting jobs, not promising a further layer of economic upheaval."

On plans to establish an EU advisory group, the party leader said it should encompass the "widest possible support".

She said: "The Scottish Conservatives want to be constructive and would like to propose suitably qualified personnel to engage with the group."

Cameron appears for first time since resigning

David Cameron fulfilled a commitment to visit the Armed Forces Day event in Cleethorpes, North East Lincolnshire, today where he watched the main parade from the saluting platform.

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The Prime Minister spent just under an hour in the seaside town, not giving any interviews or making any speeches.

David Cameron during Armed Forces Day at Cleethorpes, Lincolnshire, today Credit: PA

He stood and watched the parade alongside the Duke of Kent, who took the salute.

Mr Cameron chatted to dignitaries on the platform and applauded at the section of the parade devoted to veterans in wheelchairs.

David Cameron smiles as he watches the main military parade during the Armed Forces Day National Event in Cleethorpes Credit: Ian Forsyth/Getty Images

As he got into his car to leave the town, he managed a brief wave to the crowds.

Nicola Sturgeon wins Lib Dem backing for EU negotiations

Scottish Liberal Democrat leader Willie Rennie said Ms Sturgeon has his party's support in the EU negotiation process.

He said: "Leaving the European Union is already sending shockwaves through the economy. As an internationalist and pro-European I will do everything I can to find a way through this.

Liberal Democrat leader Willie Rennie stands with Nicola Sturgeon Credit: Andrew Milligan/PA Wire

"If this was simply to be a charade devised to build up grievance in Scotland to aid the campaign for independence, it would not have received our support. I will not be a pawn in a new campaign for independence.

"However, I was given a guarantee from the First Minister that this was not the case and that she genuinely wanted this process to succeed. That is why we will lend our support to this process as it will need a cross-party effort to have the best chance of succeeding."

The Lib Dems are calling for an overhaul of the Scottish Parliament diary for next week to allow for two days of debate on the response to the "seismic" referendum result.

The party's Mike Rumbles said: "MSPs urgently need to have the opportunity to fully discuss how best to stabilise the economy and protect people's livelihoods. This can't wait until September."

Merkel: 'We must address citizens of 27 other EU nations'

German Chancellor Angela Merkel said that, as well as working with the UK on its departure, the EU must respond to citizens of the remaining 27 states who question what benefits they get from membership.

Speaking in Potsdam after a meeting with her CDU/CSU party grouping, Mrs Merkel said the remaining members would have to "work on the processes in the EU in the sense that we were recently partners but also that we must separate. We must, along with the 27 member states, decide how to react to British proposals for this separation."

Mrs Merkel said that the Union needed to show "countries that wonder if they benefit from being in the EU" that it was "working on their behalf and heading in the right direction".

Referendum hot on everyone's lips at London Pride

As the flags of European nations lead the annual Pride parade in London the referendum result is hot on everyone's lips.

Thousands of people are taking part in this year's event, a day after the UK's vote to leave the the EU was announced.

Some of those marching through the streets spoke of their shock and concern following the Brexit result.

Belgian Georges Peters said people feel Friday was a "black day" for Europe.

A dog celebrates London Pride Credit: Paul Brown/REX/Shutterstock

Flying the flag of his nation, the 44-year-old said: "I was very disappointed about the vote. I think this is bad for the economy and it's important that we stand together.

"I have friends from other parts of Europe who live in the UK and they are saying it's very sad, it's a black day in the history of Europe."

Irishman Antaine O'Briain said he is worried the vote could lead to referenda in other EU countries.

The 51-year-old from Dublin, who lives in London, said: "As far as the referendum's concerned I'm actually shocked and horrified, and I'm quite nervous about the future of the UK and obviously of the Republic of Ireland, being that we are very close neighbours. We trade a lot.

"So I'm wondering if a referendum is going to be called for in Ireland also. I hope it doesn't break up with the Union because we are stronger together. I was a Remain voter and I hope things work out in the end."

Joanna Lumley and Jennifer Saunders, who are promoting their new film Absolutely Fabulous: The Movie, posed with flagbearers who held banners from across the world including the EU, but declined to comment on the vote.

Joanna Lumley and Jennifer Saunders in character as Patsy and Edina from Absolutely Fabulous  Credit: James Gourley/REX/Shutterstock

Saunders described the result as "hideous" in a tweet on Friday.

The capital is awash with colour with people flying rainbow flags and carrying bright banners as the march makes its way through the streets.

Labour face serious challenge from Boris Johnson premiership

Jon Mills, the millionaire businessman, Labour donor and Leave campaigner, has warned his party that it could face a serious challenge if Boris Johnson becomes the Conservative Party's new leader.

He told Sky News: "Boris Johnson does have a big appeal that extends beyond traditional Conservative voters."

Mr Mills also said that Labour "doesn't want to see a heavy Right-wing government coming in".

Juncker moves quick to replace British Commissioner

Jean-Claude Juncker, the European Commission president, has replaced Lord Hill, the British commissioner for financial services, with Valdis Dombrovskis, the Commissioner for the Euro. 

There are two things to read here.

Jean-Claude Juncker, the European Commission president Credit: Carl Court/Getty Images

First, Juncker points out he gave the British the financial services job - a plumb position that No 10 craved - despite the fact that Cameron had campaigned aggressively against him for Commission president - including briefings that he was a drunk and slurs on his fathers' war record (he was a Luxembourg conscript in the Wehrmacht.

The second is highly symbolic. It shows how Juncker wants the bloc to consolidate around the Eurozone. This is a very bad signal for any City firms that hoped they could retain passporting rights while operating from London.

New calls for Britain-Canada trade deal in wake of Brexit

Britain's High Commissioner to Canada has called for a free trade deal with the country, as the government embarks on the daunting task of creating an independent trade policy for the first time in 40 years.

Leaving the EU means Britain is denied access to more than 40 free trade deals signed between the bloc and other jurisdictions.

Now Britain must replicate those.  There are three big problems.

David Cameron and Canadian Prime Minister Justin Trudeau talk as they prepare to participate in a G7 working session in Shima on May 27, 2016 Credit: AFP/Getty Images

The first is that the British government has no trade negotiators, and would need to hire them in large numbers.

The second is that no trade deals could be signed until it had fully left the EU. 

The third is that if Scotland moves for independence, it creates huge uncertainty with negotiators over what, exactly, they are dealing with.

"We're an island. We'll be strongly pro-free trade outside the European Union," Howard Drake, the High Commissioner, told Canadian radio.

Howard Drake, British High Commissioner to Canada Credit: Sean Kilpatrick/The Canadian Press via AP

"We'll be looking to make trade deals with other countries around the world, including Canada. Other countries that are currently outside the EU do have very good trading relationships and trade agreements with other countries, so we can be the same. We have a lot to bring to the party."

"We have always believed that the Commonwealth has a significant role," he said. "Canada, the relationship, as we all know, is extraordinarily close. We have a unique relationship between us, given our history."

Former Conservative cabinet minister Pierre Poilievre said on Friday the Liberal government should "immediately conclude" a trade deal with Britain.

Matthew Holehouse, Brussels Correspondent

Government is not a rudderless ship, Michael Fallon insists

Defence Secretary Michael Fallon has denied the government is a rudderless ship after David Cameron's post-Brexit vote resignation statement.

Speaking at an Armed Forces Day event in Cleethorpes, Mr Fallon told the Press Association: "The Prime Minister goes on, the government goes on until the Autumn, until there's a new leader and a new government.

"We'll remain at our posts and we have a big agenda. We were elected only a year ago and we've set out fresh legislation which we're taking through parliament at the moment."

Michael Fallon, the Defence Secretary Credit: SWNS

He added: "Cabinet's meeting on Monday. We were all elected just a year ago on a big programme of continuing to move the economy forward, creating more jobs, a programme of social reform, and investment in defence which you can see today."

He also ruled himself out as a potential new prime minister in the wake of Mr Cameron's decision to stand down.

"Well I'm not standing for the election. But you're going to see, I think, several strong candidates coming forward over the next few days," he said.

And he warned that Brexit would take time to achieve.

Mr Fallon said: "Leaving the European Union is not an easy or a quick business. It's not been done before. Obviously it's going to take time for the details to be worked out but that's a matter now for the next prime minister and the new government in October."

Lord Hill quits top EU role after calls to resign

Following the resignation of Lord Hill as EU Commissioner for Britain, our Europe Editor Peter Foster writes.

After 24 hours when there were several calls for his resignation, Lord Hill, Britain’s EU Commissioner, has announced that he will step down from his position as Commissioner for  Financial Stability, Financial Services and Capital Markets Union in Brussels.

Lord Hill, a former minister who was a surprise appointment by David Cameron, said in a statement that he was “disappointed” in the referendum result, and had agreed with Jean-Claude Juncker a few weeks ago that he would stand aside in the event of Brexit.

Lord Hill has quit as role as EU Commissioner for Britain Credit: Rex Features

In an interview with The Telegraph a week before the vote Lord Hill warned that the City would suffer serious consequences from a leave vote as France, Germany and other Eurozone countries moved to gang up on the UK to favour their own financial services industry.

“I wanted it to end differently and had hoped that Britain would want to play a role in arguing for an outward-looking, flexible, competitive, free trade Europe. But the British people took a different decision, and that is the way that democracy works,” he said in a statement.  

“I came to Brussels as someone who had campaigned against Britain joining the euro and who was sceptical about Europe. I will leave it certain that, despite its frustrations, our membership was good for our place in the world and good for our economy. But what is done cannot be undone and now we have to get on with making our new relationship with Europe work as well as possible.”

Britain's top political figure in Brussels quits role

The UK's top political figure in Brussels has quit is role as the British Commissioner because he says it would not be "right" for him to continue after he had advocated Britain remaining.

Jonathan Hill, the British Commissioner Credit: Rex Features

Announcing his resignation, Jonathan Hill said in a statement:

"Like many people here and in the UK, I am obviously very disappointed about the result of the referendum. I wanted it to end differently and had hoped that Britain would want to play a role in arguing for an outward-looking, flexible, competitive, free trade Europe. But the British people took a different decision, and that is the way that democracy works.

As we move to a new phase, I don't believe it is right that I should carry on as the British Commissioner as though nothing had happened. In line with what I discussed with the President of the Commission some weeks ago, I have therefore told him that I shall stand down.

At the same time, there needs to be an orderly handover, so I have said that I will work with him to make sure that happens in the weeks ahead.

I am very grateful to Jean-Claude Juncker for giving me the chance to work on financial services and for the opportunity to help support jobs and growth in Europe. I was also glad to have worked with other Commissioners in trying to take forward our programme of reform, and to have had the chance to work with excellent officials at DG FISMA and in my own team.

I came to Brussels as someone who had campaigned against Britain joining the euro and who was sceptical about Europe. I will leave it certain that, despite its frustrations, our membership was good for our place in the world and good for our economy. But what is done cannot be undone and now we have to get on with making our new relationship with Europe work as well as possible."

'EU must change direction or collapse'

The EU must change direction or collapse, Italian finance minister Pier Carlo Padoan has said. 

"The unthinkable is happening," he said. "A double reaction to Brexit is under way, one financial, one political. The financial one, at least until now, is limited. I am more worried about the political one.

"There is a cocktail of factors that can lead to various outcomes, including a further push towards disintegration."

Speaking to Corriere della Sera, Padoan also said EU leaders had to understand there could be no more "business as usual" on the key issues of jobs, growth and immigration.

Pier Carlo Padoan, Italian economy minister Credit: Reuters

Foreign Minister Paolo Gentiloni meanwhile warned it would be naive to underestimate the significance of Britain leaving or the risk of a surge in anti-EU sentiment across the continent.

"The UK was not only one amongst 28 (member states). It had a great weight because of its financial markets and its international influence," Gentiloni said in an interview with daily Il Messaggero.

"The risk (of political contagion) is such that we need to send a strong and clear message (that we are) revamping the European project."

Padoan said Europe had to face up to citizens' worries over immigration, unemployment and increasing inequality - which meant changing the 'austerity' budget rules Rome blames for exacerbating the current crises.

"Inequality is growing in Europe because growth is weak," the minister said. "Italy respects the (deficit) rules but that does not mean we like them."

Italian Foreign Minister Paolo Gentiloni  Credit: Reuters

Padoan added: "In the management of Europe, Ecofin included, the prevailing attitude is almost 'business as usual'.

"But the situation we are in now is exceptional. We have to change our major priorities and we will see if (next week's) European Council sends a far-reaching signal in that sense, as it should do.

"We have had proposals on the table for months that say employment, growth, well-being and equality have to be the priorities.

"Europe cannot only take care of the banks. We are stabilising them and will continue to do so, but we also have to look after our citizens."

Gentiloni was meeting Saturday with his counterparts from Belgium, France, Germany, Luxembourg and the Netherlands - fellow EU founding members - for talks on the implications of the Brexit vote.

Matthew Holehouse, Brussels Correspondent

Confident Corbyn says he would stand again as a leadership candidate

Asked if he would stand again if a leadership contest is held, Jeremy Corbyn said "yes".

That will be worrisome to the Labour MPs who are hoping to get rid of him because they know he commands huge support from Labour's members and activists and would easily win any contest.

Mr Corbyn's speech this morning saw him return to his home territory - he looks comfortable and hardly look at his notes. That confidence will be a blow to those hoping to unseat him as leader next week.

Sturgeon: Second independence referendum 'very much on the table'

Nicola Sturgeon has just declared that a second independence referendum is now "very much on the table".

She said her Cabinet had met this morning and it is "determined to act decisively but in a way that builds unity across Scotland about the way forward".

In order to deliver a referendum "steps will now be taken" to put the necessary legislation in place to make it a reality.

Nicola Sturgeon meets with her Cabinet this morning Credit: Getty Images

Her Cabinet agreed that "immediate" discussions will take place to secure Scotland's EU interests.

An advisory panel will also be set up in the next few days with "voices from across the political spectrum". Further details will be released next week about its membership.

Ms Sturgeon also sought to reassure EU nationals living in Scotland saying they were "welcome" in the nation.

Jeremy Corbyn tackles immigration issue

Jeremy Corbyn says those concerned about immigration must not be derided as "little Englanders" or "racists".

Tackling the thorny issue of immigration in a speech this morning, he said: "Politicians are often accused of being afraid to talk about it. I am not afraid to talk about it. I believe migration has enriched our culture and communities and I want to thank those people who have come here and work so hard in our health service.

"I do also recognise that fast-moving changes to our population can put pressures on our public services.

"We recognise too that there can be tensions in the job market."

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Mr Corbyn, who has been criticised for failing to sufficiently address the issue of immigration during the EU referendum campaign, said Labour wants greater investment in areas most hit by migration, while banning zero-hour contracts would help the job market.

He added that an EU directive's loophole had been exploited by big companies, allowing them to advertise British jobs in other EU countries without giving local people a look in. He said "grotesque profits" were being made from "the exploitation of people desperate to work".

He said Britain must move away from the debate that "labels people as Little Englanders or racists" when they are concerned about immigration. He called for "an honest and rational" debate.

Corbyn: 'Many people frightened by result'

Jeremy Corbyn said many people have been left "frightened" by the outcome of the EU referendum.

He said: "We have to bring people together."

The Labour leader says he will not allow the Conservatives to replace EU environmental regulations with "Tory polluting charters".

He said it was "important to learn from the result", saying that many former mining communities across Britain had been "abandoned" since the 1980s leaving them with a feeling they had to get out of the EU. People had been left feeling "very concerned" and the poorest were "hit the hardest". Those communities had "taken the full force of austerity" in recent years, he added.

Mr Corbyn blamed the housing crisis for many people's fears. He said: "The chronic housing crisis across this country is a direct result of this Government's housing policy."

Jeremy Corbyn speaking this morning

He also recognised the divide across the country in the vote. "The referendum revealed a very divided Britain," he said. "There is a divide between the thriving multicultural cities that voted to remain and the smaller, post-industrial towns that voted to leave."

He warned that Labour would not allow "working people" to pay for any "instability" as a result of the Brexit vote.

Corbyn introduced by Britain's youngest mayor

Terence Smith, the Mayor of Goole, who at the age of 19 is the youngest mayor in Britain, is now introducing Jeremy Corbyn ahead of his speech. He was selected to speak ahead of the Labour leader to focus on the many young people who voted in the EU referendum. He says Labour "must secure a bright future for my generation".

Labour calls for 'unity and stability'

Seema Malhotra, the shadow chief secretary to the Treasury, is speaking ahead of Jeremy Corbyn's speech.

She is calling for "unity and stability" as Britain heads on a path toward leaving the European Union.

Seema Malhotra

Mr Corbyn is expected to tackle the issue of immigration in his speech, an issue many feel Labour failed to tackle in its EU referendum campaign.

The Labour leader is facing a vote of no confidence after some of his MPs have tired of his leadership.

City of London risks losing 'EU passport'

The City of London is at risk of losing its prized "EU passport" that allows firms based in the capital to operate around the single market, a member of the European Central Bank Governing Council has said.

Losing it would likely trigger an exodus of firms to the eurozone.

Francois Villeroy de Galhau said that Britain could retain the passporting rights if it took the Norwegian model of the European Economic Area. 

But that would be a "paradox" given that Britain has voted to leave the EU.

"There is a precedent, it is the Norwegian model of European Economic Area, that would allow Britain to keep access to the single market but by committing to implement all EU rules," he said.

"It would be a bit paradoxical to leave the EU and apply all EU rules but that is one solution if Britain wants to keep access to the single market."

However, a string of leaders including Wolfgang Schaeuble, the German finance minister, have said that Britain will have no access to the single market, saying: "Out is out".

Wolfgang Schaeuble, the German finance minister Credit: AP

Central banks are efficiently dealing with the fallout of Thursday's UK vote to leave the EU, said Mr Villeroy, who is also governor of the French central bank, adding: "The euro is a solid currency."

"What happened on Thursday is bad news, first of all for Britain," he said. "Of course there will be negative consequences for the European economy but there will be much more limited than the negative consequences all experts forecast for the UK economy."

Matthew Holehouse, Brussels Correspondent

'New Prime Minister should guide Britain to Brexit'

The new Conservative leader and Prime Minister should be the one to guide Britain out of the EU, Michael Fallon has said.

The Defence Secretary told Sky News: "We committed to a referendum in our manifesto and we were elected on that basis as a government. We always knew it was going to be a yes or no answer.

"I think it was right that the renegotiation of the exit should be left to a new Prime Minister."

Michael Fallon, the Defence Secretary Credit: Hannah McKay/PA Wire

Analysis: Why battle for Tory leadership could be a bloody one

While Boris Johnson has been described as "unstoppable" by senior Tories, his road to Number 10 could be a hard-fought and bloody battle.

Many Conservative MPs who backed the Remain cause will be keen to put up an 'anyone but Boris' contender in the Tory leadership race, with Theresa May the favourite at the moment.

Could Boris be Britain's next prime minister? Credit: Julian Simmonds

There are some suggestions this morning that David Cameron may take it upon himself to spend his final three months as Prime Minister building up a rival candidate to stop Boris in his tracks.

And MP Alan Duncan has warned that many Tory activists did not want a "permanent ride on the big dipper".

But the former Mayor of London is considered to be the "darling" of party activists and even if a convincing alternative can be put in place, they are going to be hard-pressed to compete with the man who has led 17 million to voting for Brexit, something many will see as his mandate for leadership.

'Tories should not be pushed into picking Boris as leader' 

Tories should not be pushed into picking a Brexit campaigner to replace David Cameron, a pro-EU MP said as he questioned Boris Johnson's credentials to be prime minister.

Alan Duncan said many activists liked the "excitement and notoriety" of the former London mayor who spearheaded the push to leave, but did not want a "permanent ride on the big dipper".

He dismissed the prospects of George Osborne succeeding David Cameron in 10 Downing Street, conceding the Chancellor was "much weakened" by his part in the referendum campaign.

George Osborne has been 'much weakened' by his part in the EU referendum campaign Credit: REUTERS/Dylan Martinez

Mr Cameron says he wants to be gone by October to allow another leader to conduct the detailed negotiations over Britain's exit from the bloc.

The Conservative backbench 1922 Committee meets on Monday to determine the timetable for the leadership election, which will see MPs whittle down candidates to two to put to the membership.

Mr Johnson starts as the clear favourite, with Home Secretary Theresa May considered a strong contender and others such as Work and Pensions Secretary Stephen Crabb also tipped to run.

Theresa May is a strong contender for the leadership Credit: EPA/ANDY RAIN

Mr Duncan, a former minister, dismissed suggestions the next leader had to be a Brexiteer.

"I don't think anything could be more stupid," he told BBC Radio 4's Today programme.

"If you just look through the lens of this referendum that is behind us, that will actually narrow the way in which we look at ourselves.

"What we need is unity, stability, credibility and competence. Someone has got to be good on domestic and foreign policy and be able to stand on the domestic stage with dignity and effectiveness."

He said he would "probably not" back Mr Johnson and suggested the former London mayor's popularity was shallow.

"Do not necessarily assume that he is the darling of the Conservative Party activists.

"A lot of them have loved the notoriety and the excitement. But actually, once you scratch the surface a little bit and ask the second question, a lot of them don't want a permanent ride on the big dipper."

Alan Duncan MP says he will 'probably not' support Boris Johnson's leadership bid Credit: Evening Standard / eyevine

He said MPs "must assert themselves and not be given a stitched-up option ... as a slam dunk".

"This is the sixth - possibly seventh, actually - leadership campaign in which I've been involved and often the poor damned infantry are just taken for granted.

"I think what has to happen here is that every single Conservative MP must appreciate that their view matters and that they have got to look at the long-term future of the country in all parts of the United Kingdom on a whole range of issues."

Asked about Mr Osborne, who faced anger from MPs over a series of stark warnings about the economic impact of Brexit including a harsh emergency budget, Mr Duncan said: "He is much weakened, of course

"I feel very sorry for him personally. If I were to stick my neck out I think it's going to be very difficult for him to stand on the back of this.

"I would have supported him in different circumstances had he done so."

Remain supporters in bid to stop Boris from becoming Tory leader

Remain supporters are considering joining the Conservative Party in a bid to stop Boris Johnson from becoming the next leader.

Standard membership, which allows members to vote in party elections, costs £25 for one year, and £5 for those under 23.

Social media users have suggested that they may try to join the party in the same way that hundreds of thousands of people paid £3 to become Labour supporters in order to select Jeremy Corbyn as party leader last year.

Hollande: Brexit poses questions 'for whole planet'

French President Francois Hollande says the British vote to leave the European Union poses questions "for the whole planet."

Hollande vowed Saturday to maintain relations with Britain, notably concerning migrants crossing between the two countries and military and economic cooperation.

Speaking after a meeting in Paris with U.N. Secretary-General Ban Ki-moon, Hollande said: "For the entire planet there is a question, what will happen?"

UN Secretary-General Ban Ki-moon delivers a speech during a joint press conference with French President Francois Hollande following a meeting on June 25, 2016 at the Elysee Palace in Paris Credit: AFP

He called for an orderly separation between Britain and the EU after Thursday's historic vote to exit the bloc, formed after two world wars to prevent new conflict via trade cooperation.

Hollande, whose country was a founding pillar of European unity, is holding emergency meetings Saturday with leaders of France's political parties as EU leaders try to keep the bloc from unravelling after the British vote.

Almost ONE MILLION voters call for second referendum

More than 940,000 people have signed a parliamentary petition for a second referendum, following the 52% win for Leave.

Many voters who backed Britain leaving the EU are now also regretting their decision - sparking a wave of so-called "Bregret" anxiety.

Brexit supporters, who did not believe their vote to leave would make a difference, are admitting in the post-referendum fallout that they made a mistake.

Mandy Suthi, a student who voted to leave, told ITV News that she would tick the Remain box if she had a second chance. "I would go back to the polling station and vote to stay, simply because this morning the reality is kicking in," she said.

Ms Suthi, who said her parents and sisters also regretted their decision to vote to leave the EU, said she was "very disappointed" with the result. "I wish we had the opportunity to vote again," she added.

Khembe Gibbons, a lifeguard from Bury St Edmunds, Suffolk, also said she had regrets about her decision.

Ms Gibbons tweeted that she felt "robbed" of her vote after Nigel Farage admitted on ITV's Good Morning Britain that the Leave campaign made a "mistake" in claiming that the £350 million a week reportedly given to the EU would go to the NHS.

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She said: "We've left the EU, David Cameron's resigned, we're left with Boris, and Nigel has just basically given away that the NHS claim was a lie.

"I personally voted leave believing these lies, and I regret it more than anything, I feel genuinely robbed of my vote."

Hundreds of others have taken to social media complaining of "Bregret".

Brexit has 'destroyed' five years of work

Britain's decision to leave the European Union has "destroyed" five years of work by the coalition government, the wife of former deputy prime minister Nick Clegg has said.

Miriam Gonzalez Durantez said she was frustrated by the referendum result, which she believes will have far-reaching consequences for the economy and legal system.

She was a staunch Remain supporter alongside her husband, who resigned as leader of the Liberal Democrats after the party was soundly beaten at the general election last year.

Miriam Gonzalez Durantez Credit: Christopher Furlong/Getty Images

Ms Gonzalez Durantez, a partner at the law firm Dechert, told the BBC: "It's a decision that has made me deeply sad really, I feel deeply sad that this country is no more part of the European Union family. Very worried, worried about the economic consequences of it that we have already started to see.

"Worried about the enormous legal instability and uncertainty that it creates towards the future and at a personal level also quite a lot of frustration to see that all the work that had gone into the country for the last five years and the personal effort, and political cost also, has gone overnight - in almost 12 months all destroyed.

"And above everything else very worried about the fact that this looks now like a country with very deep divisions with communities that do not seem to be able right now to dream of a common future so I think that for me is one of the first priorities."

Pro-Union paper backs prospect of second independence referendum

One of Scotland's biggest-selling newspapers is backing the prospect of a second independence referendum in the wake of the UK vote to leave the European Union.

The Daily Record said Nicola Sturgeon has "little option" but to pull the trigger on a second referendum after Scots voted overwhelmingly to remain in the EU while England and Wales opted for Brexit.

Saturday's edition of the Record, which largely held a pro-Union stance during the 2014 campaign over Scotland's future, appeared to go further and give its tentative support for independence, saying it offered a "positive, outward-looking option" for the country.

The paper's editorial reads: "The First Minister is right to raise the prospect of a second IndyRef, no matter how weary we all are of the constant constitutional war of attrition.

"Now the prospect of Scots returning a Yes vote in a second referendum is very much alive."

It concluded: "Many of those who voted to stay in the UK two years ago did so because they wanted to reject a narrow nationalism and its insular view of the world.

"But yesterday's result recast independence as the positive, outward-looking option for Scotland.

"This morning, Scotland and England have never felt politically further apart."

Turkey: 'Brexit is beginning of a new era'

 Turkish President Recep Tayyip Erdogan has said Britain's planned departure from the European Union signalled the "beginning of a new era" and warned the bloc could face new breakups.

"I see this decision made by the people of Britain as the beginning of a new era for Britain and the EU," Erdogan said during a fast-breaking dinner late on Friday, in his first comments on the shock referendum result.

"Like the entire world, we expected a 'yes' result in the referendum but it turned out like that," he said.

London has traditionally been a strong supporter of Ankara's long-stalled bid to join the bloc, but the issue turned into a key theme of Britain's referendum campaign, which was largely focused on immigration.

 Turkish President Recep Tayyip Erdogan  Credit: AFP

Erdogan said the problem today "is not Turkey but the EU itself."

He warned that new breakups would be "inevitable" unless the EU renewed its policies toward migrants, rising racism and Islamophobia in Europe.

"Turkey will naturally take its place within the union if the EU sincerely questions itself and does what's required swiftly," he said.

"If that does not happen and the EU proceeds on its path by deepening its inconsistency, it will be inevitable for (the EU) to face new breakups in a short while."

After applying in 1987, Turkey began EU accession talks in 2005 but its membership bid has been held up by an array of problems, with Erdogan this week suggesting Turkey could hold its own referendum on whether to continue its accession efforts.

Germany: 'We won't let Britain take EU from us'

German Foreign Minister Frank-Walter Steinmeier said this morning that the EU would weather the shock of the British vote to leave the union as he convened crisis talks.

"I am confident that these countries can also send a message that we won't let anyone take Europe from us," he said heading into a meeting in Berlin of his counterparts from the EU's six founding members.

EU leaders meet to discuss Brexit crisis

Founding EU members are holding a crisis meeting right now on the future of the bloc after Britain's seismic vote to leave the union and the resignation of David Cameron.

After the shock result German Chancellor Angela Merkel and French President Francois Hollande led calls for the EU to reform in order to survive a traumatic divorce with Britain.

European leaders are anxious to ensure the transition is as painless as possible, with the foreign ministers of the six EU founding members gathering in Berlin Saturday in the first of a series of crisis meetings over the coming week.

Angela Merkel reacts to the Brexit result Credit: EPA

German Foreign Minister Frank-Walter Steinmeier will host his French counterpart Jean-Marc Ayrault, the Netherlands' Bert Koenders, Italy's Paolo Gentiloni, Belgium's Didier Reynders and Luxemburg's Jean Asselborn for the six-way talks on "current European political issues", the German foreign ministry said in a statement.

Steinmeier regretted Britain's decision, saying it was "a sad day for Europe and the United Kingdom".

Paris and Berlin will present their partners with "concrete solutions" to make the EU "more effective", Ayrault told AFP.

French President Francois Hollande has led calls for the EU to reform in order to survive a traumatic divorce with Britain Credit: AFP

German Chancellor Angela Merkel, who called the result a "blow" to Europe, said she would would host the leaders of France and Italy along with EU President Donald Tusk in Berlin on Monday to try to chart a reform plan.

"We take note of the British people's decision with regret. There is no doubt that this is a blow to Europe and to the European unification process," Merkel told reporters in Berlin.

With global markets in turmoil, she said it was important to "not draw quick and simple conclusions from the referendum in Great Britain, which would only further divide Europe."

EU chiefs have urged Britain to leave as "soon as possible, however painful that process may be".

'Corbyn must bear responsibility for lacklustre campaign'

Labour MP Ann Coffey, who is backing the no confidence motion in Jeremy Corbyn, told the BBC: "The result of the referendum was a disastrous result for us and the leadership must bear a share of the responsibility for that.

"It was a lacklustre campaign, it didn't contain a strong enough message and the leader himself appeared half-hearted about it. If you have got a leader who appears half-hearted, you can hardly be surprised if the public feels the same way."

Chris Leslie: Corbyn should 'consider his position'

Jeremy Corbyn should "consider his position", Chris Leslie, the former shadow chancellor has said.

Mr Leslie told BBC News that he is "not surprised" that there are now moves to remove the Labour leader from his position.

He said: “I would say today he does need to consider his position and think about whether he should do the honourable thing. “Every MP is going to have to search their conscience about it but I think I would need an awful lot of persuading to have confidence in Jeremy’s leadership going into a general election.”

'Corbyn's EU message was too subtle and too complicated'

Caroline Flint, the former shadow cabinet minister, said Jeremy Corbyn's stance on the EU was "too subtle and too complicated".

Ms Flint has piled further pressure on the Labour leader as he faces calls to quit. She told the HuffPost: "This campaign proved it is not enough to win support in London and the big cities – the heart of Jeremy’s support.

Caroline Flint, former shadow cabinet minister Credit: Peter Macdiarmid/Getty Images

"Jeremy chose to argue a different message from Cameron, the SNP or Plaid Cymru. His message that the EU needs lots of reform and we need to fight from the inside to achieve it, was too subtle and too complicated.

"Voters were not deciding the merits of a new, improved EU of the future. They were judging the here and now. Many felt the UK had no control over immigration and wanted to make clear their anger and rejection of that."

Blunkett: 'I don't want Jeremy as leader in long-term'

Lord Blunkett, the former Labour home secretary, does not want Jeremy Corbyn to remain Labour leader in "the long-term".

He told BBC Radio 4's Today programme: "Jeremy isn't the problem. His project and those around him are the problem.

"I didn't vote for him. I'm not in favour of Jeremy being the long-term leader of the Labour Party."

But he urged caution for those Labour MPs hoping to launch a leadership coup.

Lord Blunkett does not want Jeremy Corbyn as Labour leader in 'the long-term'

He said: "Throwing eggs at him at the moment isn't going to change anything. Until the Labour Party actually knows what its new leader stands for and how that is going to relate to the instincts of the electorate and the reality of globalisation we're not going to get anywhere.

"It's an enormous challenge for socialist democratic parties across the world and there isn't a simple answer."

Lord Blunkett also admitted his party did not do enough to tackle the issue of immigration which became one of the central issues of the EU referendum.

He said: "If you've not got a lot to lose, what have you got to lose?

"We've ended up with the possibility of a far-right government, with the UK disintegrating and I fear greatly for democratic politics.

"The reality is we are trying to offer a difficult, complex solution in a world where they want simple solutions.

"If the Leave campaign are going to reduce immigration, they are going to have to do so without our immigration controls of French soil."

Labour frontbenchers prepare to quit Corbyn's shadow cabinet

Labour frontbenchers will quit Jeremy Corbyn's shadow cabinet next week if he does not resign as party leader, according to the PoliticsHome website.

The revelation comes as MPs prepare to debate a motion of no confidence in the Labour leader at a meeting on Monday evening, which is likely to be followed by a secret ballot the next day.

Jeremy Corbyn is facing calls to resign Credit: Getty Images

One senior MP said: "It will be bloody and messy, but has to be done. The alternative is that we slowly bleed to death."

Labour MP Frank Field told Radio 4's Today programme: "He clearly isn't the right person to lead the party into an election because nobody thinks he will actually win."

One backbencher added: "The groundswell now is that he's got to go. If we go into a general election in the autumn with him in charge we are screwed."

Remain campaigners protest against Murdoch papers

A crowd of Remain campaigners congregated outside the News Building on Friday to protest against the stance taken by Rupert Murdoch's titles on Brexit. The Sun and The Sunday Times came out in support of Brexit a week before the referendum.

Around 400 people marched from Altab Ali Park in Whitechapel, arriving at the concourse between the Shard and the News Building just before 9pm. They arrived with banners and a set of speakers shouting: "The enemy is profit".

'Jeremy Corbyn has not displayed the bold leadership we need'

Angela Smith is one of the Labour MPs calling for Jeremy Corbyn's resignation. She told the BBC: "I think Jeremy has not displayed the bold leadership we need to see, particularly as the country is moving into a great period of instability."

Asked why she thought the Leave camp had won the referendum, she said: "All that mattered on the doorstep was immigration. It was two fingers up to the establishment."

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Young people gather at Parliament in protest of 16 and 17 year olds not being given EU referendum vote 

Young people demonstrating outside the gates of Downing Street in protest at the referendum result said they felt they had been "robbed" of their futures.

Chanting: "No borders! No Boris!" a group of about 30 people gathered to express anger at Britain leaving the EU.

With polls showing that 73% of people under 25 voted to stay, while 60% of people aged over 65 backed Leave, many demonstrators complained their voices had not been listened to.

Anti-Brexit protesters outside Downing Street Credit: PA

Barman Richie Xavier, 21, said: "In a way I don't feel it is right for the old people to speak for us. Not to be insensitive, but we have a lot longer to go than they do. So I do feel a little bit robbed of my future today."

Paddy Baker, 21, said: "This vote was too close to go through. Older people voted for this, but we are the ones who are going to feel the ramifications. I am going to feel the ramifications for the rest of my life.

"It was a real shame that the 16 and 17-year-olds were not allowed to vote, as they were in the Scottish referendum."

Roxane Metzger, 20, said: "The older people who voted for this have houses, what do we have? Don't take away from us the one thing that protects human rights. This is really unfair.

"Boris Johnson is like the British Donald Trump, but he's more clever than Trump."

Jamie Roberts, 24, who works in emergency planning, said: "I just feel we would have a better future in the EU. This is hugely disappointing."

'Do not assume Boris is darling of Tory activists'

Sir Alan Duncan, former Conservative minister and a Remain supporter, says people should not automatically assume that Boris Johnson will be the favourite to replace David Cameron as leader.

He told the BBC's Radio 4 Today programme: "Do not assume he is the darling of Conservative Party activists. A lot of them don't necessarily want a permanent ride on the Big Dipper."

Sir Alan added that it was wise to delay activating Article 50 to start negotiations for Britain's exit.

Claims Corbyn will resign 'total nonsense'

Nine of Jeremy Corbyn's MPs have publicly supported a vote of no confidence in the Labour leader but sources close to Mr Corbyn say the speculation that he might resign during his speech this morning is "total nonsense".

Furious Nigel Farage to take control of Britain's exit from the EU in Brussels after Vote Leave freezes him out 

Nigel Farage has reacted with fury after Vote Leave said it would exclude him from a cross-party committee which will negotiate Britain’s exit from the European Union.

The UK Independence Party leader said that he would use his position as head of the Ukip group in the European Parliament – the biggest group  of British MEPs – to ensure he had a say over the terms of British breakaway from the EU.

Nigel Farage celebrates Brexit with supporters Credit: AP

Senior Vote Leave sources on Friday made clear that Mr Farage would not be invited to join the committee negotiating the Brexit.

One told The Telegraph: “Nigel Farage’s involvement has come to an end.”

Mr Farage responded furiously. He said: “I just don’t understand these people – they will never give me credit for anything.

"I have tried for nearly a year to work with these people and fight on a common agenda and they don’t want to know.”

Scottish Cabinet meet to consider second independence referendum

Nicola Sturgeon and Scotland's Cabinet are meeting this morning to consider the possibilities of a second independence referendum following the EU referendum vote which saw Scotland vote to remain, but now faces the prospect of being pulled out of the EU thanks to strong support for Brexit in England and Wales.

Corbyn to face formal leadership contest

Jeremy Corbyn will face a formal leadership contest within days after two Labour MPs submitted a motion of no confidence and scores more called on him to resign after the country voted for Brexit. 

Jeremy Corbyn Credit: Getty Images

Labour MPs were left furious after his lacklustre campaigning during in the referendum campaign led droves of voters concerned over immigration to back a Brexit.

The Labour leader will make a speech later today setting out how the Labour Party can move forward. Claims that he may use the speech to resign were dismissed.

Calais tells Britain: 'Take back your border'

The immigration deal which allows Britain to check passports in France should be renegotiated, Natacha Bouchart, the Mayor of Calais, has said.

If the deal were to be overturned it could see migrants crossing the Channel.

Ms Bouchart told French broadcaster BFM TV: "The British must take on the consequences of their choice.

"We are in a strong position to push, to press this request for a review and we are asking the President to bring his weight.

"We must put everything on the table and there must be an element of division, of sharing."

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The French government has so far said that border controls will remain in place preventing migrant camps moving to the South East of England.

Downing Street had warned during the referendum campaign that a Brexit could lead to migrant camps springing up in Kent if France refused to honour the 13-year-old Le Touquet agreement.

Under the treaty, Britain is allowed to conduct border controls at French rather than UK borders. This means that it checks for migrants stowing away on lorries or trains bound for Britain in Calais, not Dover.  

In a statement on Friday, the French Government said the agreement would not be ripped up and would continue to stand.

Barack Obama stands by 'back of the queue' remarks

The White House said US President Barack Obama stands by his warning that Britain will go to the “the back of the queue” in trade negotiations after leaving the EU. He also said on Friday that the two countries will remain “indispensable partners”.

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Moody's downgrades UK's credit outlook 

As the financial markets collapsed in the minutes after Mr Cameron’s speech, Mark Carney, the Bank of England Governor, said he was prepared to take "all necessary steps" after the FTSE 100 fell by more than 8 per cent - equivalent to £120billion.

The markets calmed after Mr Carney said that he is prepared to inject up to £250billion into the financial system to help steady the economy following the vote to leave the European Union.

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However, Moody's, the credit rating agency, cut Britain's credit rating outlook to "negative" on Friday, saying the vote to pull out of the European Union could hurt its economic prospects.

Eurosceptic ministers yesterday hailed the recovery of the markets as evidence that that the economic warnings of Mr Cameron and Mr Osborne were unfounded.

Boris Johnson and Michael Gove prepare 'dream team' Brexit government

Boris Johnson and Michael Gove are preparing a “dream team” bid to take control of the leadership of the Conservative Party in the wake of the most dramatic week in modern British political history.

David Cameron resigned as Prime Minister yesterday morning after Britain voted to leave the European Union sparking a major political, economic and constitutional crisis.

Within hours of the surprise vote, Mr Cameron had resigned, the Bank of England intervened in the financial markets to prevent a crash and the Scottish government threatened to hold another referendum on splitting from the rest of the United Kingdom.

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In a statesmanlike address from the Vote Leave headquarters, Mr Johnson positioned himself as a Prime Minister in waiting by urging unity in the nation and speaking of the bright future that now awaits an outward-looking Britain.

“I want to speak to the millions of people who did not vote for this outcome especially young people who may feel that this decision in some way involves pulling up the drawbridge or any kind of isolationism. I think the very opposite is true.

“To those who may be anxious at home or abroad this does not mean that that he UK will be in anyway less united nor indeed does it mean that it will be any less European.”

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He added: “We cannot turn our backs on Europe. We are part of Europe. Our children and grandchildren will continue to have a wonderful future as Europeans travelling to the continent, understanding the languages and cultures that make up of common European civilisation.”

It is now expected that Mr Johnson will stand as leader, with Mr Gove, the Justice Secretary, becoming the Chancellor in a “Brexit Government”, sources claimed.

George Osborne, the current Chancellor, could work alongside the pair after it emerged that he made overtures towards Mr Johnson, sending an olive branch text message in the early hours of Friday following the shock victory by the Leave campaign.

It came on a day described as the most dramatic in the modern history of British politics. In the space of just six hours the country voted to leave the European Union, Mr Cameron resigned and Jeremy Corbyn was left facing a leadership challenge.

As the financial markets crashed to a 31-year low, Scottish First Minister Nicola Sturgeon said a second independence referendum was now “highly likely” and there were calls for a united Ireland after both nations voted to Remain against the prevailing national mood.

David Cameron delivers a speech as his wife Samantha looks on Credit: Xinhua / Barcroft Images

After a night of tension which say the Brexit campaign score major victories across middle England and the north, it became clear shortly after dawn that Mr Cameron was going to resign.

At 8.15am he gave a speech in Downing Street flanked by his wife Samantha, who appeared tearful as her husband said it was “in the national interest to have a period of stability and then the new leadership required”.

Sources close to Mr Johnson say he  was left “extremely upset” by Mr Cameron’s resignation and “felt personally responsible” as he watched an emotional Mr Cameron tell the nation that he is no longer the right person to be "the captain that steers our country to its next destination".

While Mr Cameron called Mr Gove before making his resignation speech outside Number 10, he pointedly declined to make contact with Mr Johnson, only replying to a text message sent later in the morning by the former London mayor.

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Within minutes of Mr Cameron saying that he wanted a new Tory leader in place by the beginning of October, there was speculation about his potential successor.

Although Mr Johnson is the clear frontrunner, moderates were last night understood to be rallying around Theresa May, the Home Secretary, who backed Remain but was praised by Eurosceptics for keeping relatively silent during the campaign.

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