00:00The British people have made a very clear decision to take a different path.
00:04And as such, I think the country requires fresh leadership to take it in this direction.
00:11I will do everything I can as Prime Minister to steady the ship over the coming weeks and months.
00:18But I do not think it would be right for me to try to be the captain that steers our
00:23country to its next destination.
00:26This is not a decision I've taken lightly.
00:28But I do believe it's in the national interest to have a period of stability and then the new leadership
00:34required.
00:36There is no need for a precise timetable today.
00:39But in my view, we should aim to have a new Prime Minister in place by the start of the
00:44Conservative Party conference in October.
00:46A negotiation with the European Union will need to begin under a new Prime Minister.
00:52And I think it's right that this new Prime Minister takes the decision about when to trigger Article 50.
00:58and start the formal and legal process of leaving the EU.
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