Friday 24th June 2016 - 9:30 pm

UK PM quitting after referendum fails

by Alan Thornhill

 

The UK Prime Minister, David Cameron, announced today that he is planning to resign before a Conservative Party conference in October.

 

His statement follows the failure of a referendum he promoted to keep Britain in the European Union, which it joined 43 years ago.

 

The loss sent global currency and share markets into chaos and pushed the British pound to its lowest point in 25 years.

 

The BBC put the number of votes urging Britain to leave the EU at 17,410,742 or 51.9 per cent of the total cast.

 

It said, too, that 16,141,241 votes were cast, by those who want Britain to stay in the EU.

 

This was 48.1 per cent of the total vote.

 

Australia’s Prime Minister, Malcolm Turnbull, said:  “ This is a momentous and historic decision and we respect the wishes of the British people, expressed through this referendum“

 

However he added:  “I want to say that Australians….will be concerned by the uncertainty and instability in global markets, falls in currencies, including the Australian dollar and in equity markets.”

 

But Mr Turnbull said, too, that: “it is important to remember that the Australian economy is strong and resilient and has weathered global shocks before and weathered them well.”

 

“So there is no cause for Australians to be alarmed by these developments,” Mr Turnbull said.

 

But he said there would be a “… a period of uncertainty and some instability in global markets.”

 

“ I’ve no doubt that European leaders will provide reassurance and leadership that will in due course, settle many if not all of those uncertainties,” Mr Turnbull said.

 

However he added:  “…now more than ever Australia needs a stable majority Coalition Government .”

 

He said the nation also needed a strong economic plan that sets Australia up for a prosperous future.

 

This would enable Australia to take advantage of new opportunities and resiliently meet the challenges and the headwinds “that we cannot always anticipate and that we cannot always influence.”

 

“But  but they will always be there,”  Mr Turnbull said.
 


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