EU Referendum

:00:07. > :00:14.A moment of history as the UK votes to leave the European Union.

:00:15. > :00:17.After more than four decades in the EU, a decisive vote as more

:00:18. > :00:20.than 17 million people vote to leave.

:00:21. > :00:25.David Cameron says he will now stand down as Prime Minister.

:00:26. > :00:28.I will do everything I can as Prime Minister to steady the ship

:00:29. > :00:33.But I do not think it would be right for me to try to be the captain

:00:34. > :00:40.that steers our country to its next destination.

:00:41. > :00:41.There was jubilation in the Leave camp.

:00:42. > :00:44.Ukip's Nigel Farage called it a victory for ordinary people,

:00:45. > :00:49.against the big banks, big business and big politics.

:00:50. > :00:52.Nothing will change over the short term except that work will have

:00:53. > :00:55.to begin on how to give effect to the will of the people,

:00:56. > :01:04.and to extracate this country from the supranational system.

:01:05. > :01:07.Dramatic falls for both the pound and the markets following the news,

:01:08. > :01:09.but the Bank of England says it's taking all necessary steps

:01:10. > :01:16.And the future of the UK is again on the table as Scotland's First

:01:17. > :01:18.Minister says a second independence referendum is highly likely

:01:19. > :01:25.after Scots voted overwhelmingly to Remain.

:01:26. > :01:28.It is a significant and material change in circumstances,

:01:29. > :01:30.and it is therefore a statement of the obvious that the option

:01:31. > :01:41.of a second referendum must be on the table.

:01:42. > :01:46.Yesterday's vote has claimed the scalp of the Prime Minister and

:01:47. > :01:53.dropped the political establishment at Westminster. I will be talking to

:01:54. > :01:57.leading politicians and commentators as British politics are absorbed

:01:58. > :02:02.this shock result. I'm Matthew Amroliwala, life in

:02:03. > :02:06.Brussels. The shock waves of reverberating around this place.

:02:07. > :02:15.This simple question, what happens now?

:02:16. > :02:18.I'm Robert Hall, life in the Fenland town of Wisbech, a region which

:02:19. > :02:33.polled one of the highest pro Brexit results.

:02:34. > :02:37.After more than 40 years, Britain has voted to end its membership

:02:38. > :02:41.The vote was decisive - 52% chose to leave the EU,

:02:42. > :02:46.Within hours, David Cameron announced he was standing

:02:47. > :02:52.He said he'd stay in Number Ten for the next few months

:02:53. > :02:55.but that the country required fresh leadership.

:02:56. > :02:59.Boris Johnson, who campaigned for a Leave vote, said the UK now

:03:00. > :03:01.had a glorious opportunity to pass its own laws,

:03:02. > :03:07.set its own taxes and find its voice in the world again.

:03:08. > :03:10.Let's take a closer look at the final result which,

:03:11. > :03:12.shows that Leave secured its victory by a margin of more

:03:13. > :03:21.In total, 17.4 million people voted for the UK to leave the EU.

:03:22. > :03:26.That compares with the 16.1 million voters who backed Remain.

:03:27. > :03:30.More than 72% of eligible voters took part.

:03:31. > :03:33.In England, more than 15 million people voted for the UK

:03:34. > :03:39.to leave the European Union, 13.2 million people backed Remain.

:03:40. > :03:44.In Scotland every voting area came out in favour of Remain.

:03:45. > :03:47.62% of Scottish voters backed Remain, with 38%

:03:48. > :03:54.In Wales, Leave won over 52% of the vote and secured the most

:03:55. > :04:00.votes in all but five of the 22 counting areas.

:04:01. > :04:03.In Northern Ireland, which shares a land border

:04:04. > :04:06.with the European Union, voters backed Remain -

:04:07. > :04:10.with 55% of voters choosing to remain in the EU with 45% voting

:04:11. > :04:21.Those are the big numbers, those are the numbers which tell you what has

:04:22. > :04:23.happened in this seismic electoral event.

:04:24. > :04:25.We'll have all the reaction from Westminster the City

:04:26. > :04:30.and from Europe, but first our political correspondent

:04:31. > :04:32.Carole Walker reports on the dramatic events so far.

:04:33. > :04:36.The people have voted for a new destiny for Britain.

:04:37. > :04:41.This means that the UK has voted to leave the European Union.

:04:42. > :04:44.It is a decision few predicted at the start of this campaign.

:04:45. > :04:48.A decision which has forced the Prime Minister out of office.

:04:49. > :04:51.There was no hiding the emotion as David Cameron with his wife,

:04:52. > :04:57.The British people have voted to leave the European Union

:04:58. > :05:04.He had fought and lost the battle to persuade the country to stay

:05:05. > :05:12.I fought this campaign in the only way I know how which is to say

:05:13. > :05:15.directly and passionately what I think and feel,

:05:16. > :05:24.But the British people have made a very clear decision to take

:05:25. > :05:27.a different path and as such, I think the country requires

:05:28. > :05:33.fresh leadership to take it in this direction.

:05:34. > :05:36.I will do everything I can as Prime Minister to steady the ship

:05:37. > :05:39.over the coming weeks and months, but I do not think it would be right

:05:40. > :05:42.for me to try to be the captain that steers our country

:05:43. > :05:49.From the moment the results starting coming in, just after midnight,

:05:50. > :05:59.The total number of votes cast in favour of Leave was 82,000.

:06:00. > :06:02.By the end of the night, Leave had won a clean sweep

:06:03. > :06:03.across the north of England, the Midlands, the east

:06:04. > :06:09.London was the only region of England to support

:06:10. > :06:17.The result in Flintshire reflected the outcome across Wales.

:06:18. > :06:23.But Northern Ireland voted to remain in the EU,

:06:24. > :06:25.Sinn Fein said it intensifies the case for a vote

:06:26. > :06:31.on whether Northern Ireland should leave the United Kingdom.

:06:32. > :06:33.And Scotland, as expected, voted by a clear majority

:06:34. > :06:39.Scotland's First Minister said it was democratically unacceptable

:06:40. > :06:44.for it to be taken out of the EU against its will.

:06:45. > :06:47.Scotland does now face that prospect.

:06:48. > :06:50.It is a significant and material change in circumstances

:06:51. > :06:52.and it is therefore, a statement of the obvious

:06:53. > :06:55.that the option of a second referendum must be on the table

:06:56. > :07:05.But at Westminster, jubilant Leave campaigners have been celebrating.

:07:06. > :07:07.Nigel Farage said he was thrilled that the country had

:07:08. > :07:10.decided to break free from what he called a failing,

:07:11. > :07:16.17 million people have said we must leave the European Union.

:07:17. > :07:22.A Government that gets on with the job.

:07:23. > :07:24.A Government that begins the renegotiation of our

:07:25. > :07:32.Boris Johnson struggled through the throng at his home.

:07:33. > :07:33.Then paid tribute to the Prime Minister

:07:34. > :07:37.for his bravery in giving the British people their say.

:07:38. > :07:40.I believe we now have a glorious opportunity.

:07:41. > :07:42.We can pass our laws and set our taxes entirely according

:07:43. > :07:51.We can control our own borders in a way that is not discriminatory

:07:52. > :07:54.but fair and balanced and take the wind out of the sails

:07:55. > :07:58.of the extremists and those who would play

:07:59. > :08:06.But in the City, shares plunged and the pound fell dramatically

:08:07. > :08:08.despite all the attempts at reassurance from political

:08:09. > :08:13.leaders and the Bank of England which promised to take whatever

:08:14. > :08:20.measures where necessary to support the economy.

:08:21. > :08:23.And there are now questions over the future of the Labour leader,

:08:24. > :08:26.who has been blamed for a lacklustre campaign to remain in the EU

:08:27. > :08:28.which failed to convince many Labour supporters.

:08:29. > :08:31.Clearly, there are some very difficult days ahead.

:08:32. > :08:34.The value of the pound has already fallen and there will therefore be

:08:35. > :08:43.job consequences as a result of this decision.

:08:44. > :08:45.REPORTER: The Prime Minister has resigned.

:08:46. > :08:49.No reaction, but two senior Labour MPs have tabled a motion

:08:50. > :08:50.of no confidence in Mr Corbyn's leadership.

:08:51. > :08:54.I think Jeremy Corbyn should resign as leader of the Labour Party.

:08:55. > :08:56.This was a test of leadership, the European referendum campaign.

:08:57. > :09:01.He was very half-hearted in the leadership he gave

:09:02. > :09:09.For Britain, for Europe as the country embarks

:09:10. > :09:13.on a new and uncertain future outside the EU

:09:14. > :09:31.That scene played at several hours ago when the Prime Minister and his

:09:32. > :09:32.wife appeared in Downing Street. With me is our chief political

:09:33. > :09:42.correspondent Vicki Young. Lots to discuss. Let's start with

:09:43. > :09:46.that statement, the cold, -- Bertone, of course the content. It

:09:47. > :09:50.is an incredible moment. Somebody said to me that when things change

:09:51. > :09:55.in Westminster they change very fast. David Cameron just over a year

:09:56. > :09:59.ago had won and unexpected election victory, basking in the glory of

:10:00. > :10:02.that, here he is on the verge of tears saying he will stand down. I

:10:03. > :10:06.don't pick anybody thought he would hang on for long if he lost the

:10:07. > :10:12.referendum, there were some viewers get to Tory MPs who said, you have

:10:13. > :10:16.this day, you have to lead the negotiations -- there were some

:10:17. > :10:20.Eurosceptic Tory MPs. He has been rejected, you must not going to

:10:21. > :10:26.spend the next year or two going through that process -- he was not

:10:27. > :10:30.going to spend. And his legacy, what all prime ministers worry about,

:10:31. > :10:35.potentially the possible break-up of the UK, leaving the European Union,

:10:36. > :10:40.changes to how we trade, travel, talk to people, it was a big gamble

:10:41. > :10:43.which simply did not pay. You mention some of the Eurosceptics who

:10:44. > :10:49.said that the Prime Minister hang on. I could go Van Boris Johnson

:10:50. > :10:53.among them. They had their own statements this morning, very solemn

:10:54. > :11:01.intone -- Baikal Gove and Boris Johnson among them. -- Michael Gove.

:11:02. > :11:06.Listening to them, it was like they had lost. Contrasting it with Nigel

:11:07. > :11:10.Fry Zhu told me he had kippers and champagne for breakfast, he was

:11:11. > :11:16.ecstatic. -- with Nigel Farage, who told me. They seemed surprised and

:11:17. > :11:26.shocked. Michael Gove is a very close friend of David Cameron. Boris

:11:27. > :11:28.Johnson, I think there is fear among the Conservatives about the

:11:29. > :11:33.divisiveness not just within the party, the tone of the campaign, I

:11:34. > :11:38.have seen a Conservative minister berating her Eurosceptic colleagues,

:11:39. > :11:44.saying, you have made immigration a dirty word. Boris Johnson is trying

:11:45. > :11:47.to appeal to young people, liberals, those people who voted Remain, he is

:11:48. > :11:52.trying to say that he has a different vision for Britain than

:11:53. > :11:57.that of Nigel Farage, he is trying to seize that mantle. He says he

:11:58. > :11:59.wants to have a compassionate conservatism, the question is

:12:00. > :12:07.whether he will try to be the next Prime Minister. Big questions, we

:12:08. > :12:09.will talk in a while, not least about the future of the UK.

:12:10. > :12:11.As the result became clear overnight, the pound

:12:12. > :12:14.suffered its biggest drop on record - at one point falling to levels

:12:15. > :12:18.The Governor of the Bank of England, Mark Carney, has sought to reassure

:12:19. > :12:21.financial markets and said the Bank was well prepared.

:12:22. > :12:25.Our economics correspondent Andy Verity reports.

:12:26. > :12:28.Panic on the markets on a scale not seen since

:12:29. > :12:34.The fear that this could turn into another one drove the pound

:12:35. > :12:37.down 12% this morning, the biggest drop in half a century,

:12:38. > :12:41.and when it opened at 8am, the stock market crashed.

:12:42. > :12:44.The same man who warned Brexit could trigger a recession was now

:12:45. > :12:46.seeking to prevent one through reassurance,

:12:47. > :12:49.announcing he'd lend up to a quarter of a trillion pounds more to banks

:12:50. > :12:59.Her Majesty's Treasury and the Bank of England have engaged in extensive

:13:00. > :13:02.contingency planning and the Chancellor and I have

:13:03. > :13:04.remained in close contact, including through the night

:13:05. > :13:12.To be clear, the Bank of England will not hesitate to take additional

:13:13. > :13:15.measures as required as markets adjust and as the UK

:13:16. > :13:23.Mark Carney's intervention helped to stem the panic and both the pound

:13:24. > :13:27.and the share market recovered nearly half their losses.

:13:28. > :13:30.He deviated from his doomsday message from just a couple of weeks

:13:31. > :13:33.ago to try and reassure the markets and also really to say

:13:34. > :13:36.that he will do whatever it takes to prop up the UK economy

:13:37. > :13:42.The markets love it when the central bank says we will do

:13:43. > :13:47.But in Europe, shares were hit even harder.

:13:48. > :13:49.Business people who count on the single market are worried.

:13:50. > :13:52.The business community is really disturbed and disappointed by this.

:13:53. > :13:58.We're going to have a period of volatility and instability

:13:59. > :14:00.and uncertainty, and we see already in the markets things

:14:01. > :14:03.that we were most concerned about, a drop in the value of sterling,

:14:04. > :14:07.in the stock market and not just in the UK, around the world.

:14:08. > :14:10.The immediate effect is on this, the value of the pound.

:14:11. > :14:13.If you're a tourist coming to this bureau de change in London,

:14:14. > :14:16.you'll get more pounds for your euros or your dollars.

:14:17. > :14:19.On the other hand, if you are going on holiday will get more euros

:14:20. > :14:27.Exporters may be more competitive because people abroad can buy more

:14:28. > :14:30.of their goods for the same money, but imported prices,

:14:31. > :14:33.goods coming into the country, they'll get more expensive.

:14:34. > :14:35.Most economists warned Brexit would mean a weaker pound,

:14:36. > :14:39.higher prices and slower growth, but no one's saying "I told you so".

:14:40. > :14:43.They are praying their forecasts were wrong.

:14:44. > :15:06.I want to tell you that Sadiq Khan has tweeted, "To every European

:15:07. > :15:10.resident living in London, you are very welcome here." That's the

:15:11. > :15:14.latest message from Sadiq Khan. That's after the tweet earlier on

:15:15. > :15:19.where he said London will continue to be the successful city that it is

:15:20. > :15:22.today. The message being don't panic, London will continue it's

:15:23. > :15:26.success, but a more pointed message the second one to every European

:15:27. > :15:31.resident living in London says the mayor, you are very welcome here.

:15:32. > :15:36.What are the markets doing? It is a frantic and uncertain time. Our

:15:37. > :15:40.business correspondent Ben Thompson is monitoring things for us in the

:15:41. > :15:45.City. Ben, I couldn't help but notice you were tweeting about some

:15:46. > :15:48.potential plans by some banks to move employees away from London. You

:15:49. > :15:52.can address that for us, but first of all, what are the markets doing?

:15:53. > :15:55.Yeah, Huw, thank you very much. I will take you to the market boards

:15:56. > :15:58.because it has been a really volatile day so far on the markets

:15:59. > :16:02.of the that's the current state of play across Europe. You see the one

:16:03. > :16:06.there, that's the FTSE 100, down 3.5%, but you will notice the losses

:16:07. > :16:12.elsewhere on the Continent are much worse. You can see in France, in

:16:13. > :16:16.Paris, and in Frankfurt, markets falling more significantly. Read

:16:17. > :16:20.into that what you will about what they make of the view of the UK to

:16:21. > :16:24.leave the European Union. But within the next 14 minutes we will get the

:16:25. > :16:28.view of America. New York and the stock market there will open. This

:16:29. > :16:32.is the prediction of what we expect to happen. The futures, we're

:16:33. > :16:39.expecting the Dow Jones to open down 2.9%. A similar picture on the S and

:16:40. > :16:44.P 500, down 3.5%, they are digesting everything they've heard today and

:16:45. > :16:48.looking for some sort of reassurance. I have been talking to

:16:49. > :16:51.people here about whether investors are sitting on the sidelines trying

:16:52. > :16:57.to get some sense of what happens next? Maybe it is on Monday that we

:16:58. > :17:01.will start to discover what it is that the City really thinks, perhaps

:17:02. > :17:05.it is a knee-jerk reaction and it was a surprise as far as the markets

:17:06. > :17:09.were concerned. You touched on it there, Huw, the news from Morgan

:17:10. > :17:14.Stanley, it telling us it is putting into place plans to move 2,000

:17:15. > :17:18.London based staff out of the UK. It will move them, we're told, either

:17:19. > :17:23.to Dublin or Frankfurt. It says the taskforce is already in place. Of

:17:24. > :17:26.course, the big financial institutions have had contingency

:17:27. > :17:30.plans in place. Contingency plans if the UK decided to leave the European

:17:31. > :17:37.Union. And it is already enacting them. It says it will not wait for

:17:38. > :17:40.the Article 50, beginning the procedure, the divorce of the UK

:17:41. > :17:45.from the European Union. Well, it will not wait for that. It is

:17:46. > :17:48.already doing it. 2,000 staff will move from its investment banking

:17:49. > :17:53.division and it will make sure that happens over the course of the

:17:54. > :17:57.coming weeks. If you put in into context, we heard from the President

:17:58. > :18:01.of Morgan Stanley, he said that Brexit would be the most con qengsal

:18:02. > :18:09.thing we have seen since the war. That's his view. Those 2,000 staff

:18:10. > :18:20.are off. Markets in New York are expected to open down by about 3%.

:18:21. > :18:23.Ben, thank you very much. Ben, mentioning contingency

:18:24. > :18:28.planning. I must remind you what the European

:18:29. > :18:32.Parliament President said today. He said there will be con qens for

:18:33. > :18:42.Britain so other EU countries are not encouraged to follow the

:18:43. > :18:43.dangerous path. That was the blunt message

:18:44. > :18:45.For more on the impact that Britain's decision was the blunt

:18:46. > :18:48.message will have on the remaining EU member states, let's turn

:18:49. > :18:51.to Matthew Amroliwala who is in Brussels.

:18:52. > :18:59.. The shock that's felt here in Brussels. There is anger directed at

:19:00. > :19:04.David Cameron. There is real concern at the impact on the wider EU and

:19:05. > :19:07.then there is the vast unknown in terms of what lies ahead. You were

:19:08. > :19:14.talking about the language there. Blunt, but the leaders have tried to

:19:15. > :19:20.moderate their language. They started with Donald tusk saying it

:19:21. > :19:25.was not the time for hysterical reaction, but negotiating Britain's

:19:26. > :19:28.exit, the terms, the time, that is going to be hugely complicated. In

:19:29. > :19:32.the buildings behind me, they're trying to make sense of it all. The

:19:33. > :19:37.leaders from Germany, France, Italy, they will be here next week to try

:19:38. > :19:40.to make some sort of sense of what lies ahead in the coming weeks as

:19:41. > :19:43.our correspondent Ben Brown now reports.

:19:44. > :19:46.A new day breaks over the British coast and with it an entirely

:19:47. > :19:52.Across the Channel, wall-to-all coverage of last night's dramatic

:19:53. > :19:55.result and calls in some countries for a referendums of their own.

:19:56. > :19:59.The German Chancellor has expressed what she called "great regret"

:20:00. > :20:05.TRANSLATION: The consequences of this in the days,

:20:06. > :20:08.weeks, months and years ahead will depend on the

:20:09. > :20:13.We shouldn't draw any hasty conclusions which will

:20:14. > :20:24.In Paris, President Hollande said the result is a grave

:20:25. > :20:29.TRANSLATION: Europe cannot be like it was before.

:20:30. > :20:31.The people are waiting for the European Union

:20:32. > :20:41.And on the streets of Europe, ordinary citizens reacted

:20:42. > :20:47."It's a catastrophe" says a German farmer.

:20:48. > :20:56.A Frenchman says he respects the decision but thinks

:20:57. > :21:01.There has been turmoil on the world's financial markets

:21:02. > :21:06.with huge falls across Europe and Asia and around the world,

:21:07. > :21:12.leaders are still trying to absorb the enormity of what has happened.

:21:13. > :21:16.We have seen already large falls on stock markets

:21:17. > :21:20.and there will be a degree of uncertainty for sometime.

:21:21. > :21:22.But one world figure celebrating today is Donald Trump

:21:23. > :21:26.visiting his golf resort in Scotland, he praised the verdict

:21:27. > :21:40.Well, you know, I said this was going to happen and I think

:21:41. > :21:43.that it is a great thing and we will see, but I think it will be

:21:44. > :21:46.REPORTER: Any words for David Cameron?

:21:47. > :21:47.Basically, they took back their country.

:21:48. > :21:58.There is much uncertainty ahead, not only for Britain, but for the

:21:59. > :22:10.European Union itself. It is worth telling you more about

:22:11. > :22:19.what has been said. Britain is committed to leaving the EU, which

:22:20. > :22:23.means leaving the single market. The leaders here, the EU leaders, they

:22:24. > :22:27.now want to get on with negotiating Britain's exit. They don't want

:22:28. > :22:32.three or four month delay in terms of taking on board a new

:22:33. > :22:35.Conservative leader and that, counters, directly with what we

:22:36. > :22:39.heard from the timeline laid out by David Cameron when he was speaking

:22:40. > :22:42.in Downing Street. So straightaway, you get the first of what are likely

:22:43. > :22:43.to be many, many battles that lie ahead.

:22:44. > :22:50.Huw, back to you. This result will have huge

:22:51. > :23:15.implications right across the UK. Gavin Esle ression is in Scotland.

:23:16. > :23:18.The statement from the First Minister, the potential timetable,

:23:19. > :23:22.if there is one shaping up for a second referendum on independence?

:23:23. > :23:27.Yes, Huw. Nicola Sturgeon has managed to be both very bold and

:23:28. > :23:31.very cautious at the same time. Very bold in saying effectively this is a

:23:32. > :23:38.game changer. This is Scotland being taken out of the EU against the will

:23:39. > :23:41.of the Scottish people. And there will therefore be, it is highly

:23:42. > :23:45.likely, she says, a second independence referendum. That's the

:23:46. > :23:50.bold bit. The more cautious bit is how she is reacting. For instance,

:23:51. > :23:53.she has been talking with Sadiq Khan, the Mayor of London. London

:23:54. > :23:57.said we want to remain within the EU. It is not quite clear how that

:23:58. > :24:01.might develop, but I'm told by people close to the First Minister

:24:02. > :24:04.that she respects Sadiq Khan very much and thinks she can work with

:24:05. > :24:11.him. Again, I don't know how it will pan out in the long-term. And also,

:24:12. > :24:14.if the people of Scotland do vote in another independence referendum, the

:24:15. > :24:19.First Minister says many former No voters will now switch to yes this

:24:20. > :24:23.time and I've had that reaction on my Twitter feed and elsewhere, but

:24:24. > :24:28.that kind of EU would they be voting to stay? That's why she has been

:24:29. > :24:33.cautious and not laid out a timetable. Some of her councillors

:24:34. > :24:36.are saying let's go ahead and have an independence referendum next May

:24:37. > :24:39.when we have local council elections. I don't think that's her

:24:40. > :24:42.timetable. We will have to see, because there will be a Cabinet

:24:43. > :24:47.meeting tomorrow and she will talk to the Scottish Parliament on

:24:48. > :24:53.Tuesday, but cautious as I say and trying to calm fears including the

:24:54. > :24:56.fears of some of the people here in Scotland who have EU passports and

:24:57. > :25:02.they might be wondering about their future. She says they're safe here.

:25:03. > :25:06.Just a thought about other opinion in Scotland. We know, the SNP, of

:25:07. > :25:09.course, is dominant in the Scottish Parliament, but what are the other

:25:10. > :25:12.party leaders doing? All of the other party campaigners were

:25:13. > :25:16.campaigning for Remain, weren't they? They were, indeed. That's an

:25:17. > :25:20.interesting point. Ruth Davidson who put up a brave fight during the

:25:21. > :25:24.campaign here in Scotland and also on the British national stage. She

:25:25. > :25:29.is very strongly in favour of Remain. The leadership of her party

:25:30. > :25:36.is about to change. And perhaps it will be a leadership that she finds

:25:37. > :25:47.less congealial than the one of David Cameron. Kezia Dugdale has the

:25:48. > :25:51.problem. Jeremy Corbyn is not the kind of leader that's firing up the

:25:52. > :25:55.party base. She is saying, "Look, the people of Scotland are joiners.

:25:56. > :25:59.We like to be within the United Kingdom and we like to be within the

:26:00. > :26:04.European Union. So let's go carefully." All the parties here do

:26:05. > :26:08.have their problems. Gavin, thank you very much. We'll

:26:09. > :26:12.talk later on. We're going to go to Belfast and talk to Chris Buckler.

:26:13. > :26:15.Chris, first of all, the broad response to what happened and then

:26:16. > :26:19.maybe we can talk about the statement made earlier by Martin

:26:20. > :26:22.McGuinness and his colleagues, but the broad response first Well, first

:26:23. > :26:26.of all, there is that question now about all of those issues that were

:26:27. > :26:29.brought up in the referendum specifically as regards Northern

:26:30. > :26:33.Ireland. We are talk about it generally the Democratic Unionist

:26:34. > :26:35.Party and the First Minister of Northern Ireland, Arlene Foster has

:26:36. > :26:39.made it clear she welcomes the result. She had campaigned for a

:26:40. > :26:43.Leave vote and she says there is no need to panic, but there are people

:26:44. > :26:48.now asking questions about what it will mean along the border? Will it

:26:49. > :26:51.means Customs check points being put in place? The Irish Government is

:26:52. > :26:55.considering this. There is the big relationship in terms of trade

:26:56. > :26:59.between Britain and Ireland. The UK and Ireland are big trading partners

:27:00. > :27:02.and as a result they are having to consider this carefully. All of

:27:03. > :27:06.these issues are now having to be addressed. Up until this point it

:27:07. > :27:10.has been referendum thoughts, what will be. Now they are practical

:27:11. > :27:14.realities. Chris, thank you very much. Chris

:27:15. > :27:18.Buckler there for us in Belfast. We're going to Cardiff and talk to

:27:19. > :27:22.Thomas Morgan. We saw the First Minister Carwyn Jones making that

:27:23. > :27:27.statement a few hours ago. What's been the broad response in Wales?

:27:28. > :27:33.Well, I think it has been a bit of a shock for the Remain campaign, but

:27:34. > :27:37.some of those have been critical of the Remain campaign in Wales. They

:27:38. > :27:40.said they should have started campaigning here sooner. There was a

:27:41. > :27:45.breather between then and campaigning for the EU referendum.

:27:46. > :27:48.As I say, some people have been critical of the time it took the

:27:49. > :27:52.Remain campaign to push on and to make sure they could keep being a

:27:53. > :27:56.part of the European Union. Now, of course, Wales gets a great deal of

:27:57. > :28:03.money from the European Union because so many areas here are

:28:04. > :28:09.lacking in funding. There are so many poor areas here so many of

:28:10. > :28:13.those areas that get the money from Europe, they are Labour strongholds,

:28:14. > :28:16.Wrexham and Caerphilly, it is interesting the way it has been

:28:17. > :28:20.voting, but the opinion polls over the last few months were showing

:28:21. > :28:27.this trend. It has been a knife edge for a while here. So that turnout in

:28:28. > :28:30.Wales, the 52.5% that voted to leave shouldn't maybe come as a shock to

:28:31. > :28:34.the people that were on the Remain side and Carwyn Jones because it was

:28:35. > :28:39.forecast in those opinion polls. I think what will happen is Carwyn

:28:40. > :28:42.Jones will meet with the Welsh Government here on Monday and try

:28:43. > :28:46.and see where they can maybe gain more money from London because if

:28:47. > :28:49.they're not going to gain that extra funding from Europe, will it be

:28:50. > :28:52.able, will they be able to renegotiate or get extra funding

:28:53. > :28:58.from the Barnett Formula further down the line?

:28:59. > :29:04.Thank you very much. Thomas Morgan there with the response in Wales to

:29:05. > :29:10.the overall result. Wales voted to leave overall. A quick reminder of

:29:11. > :29:15.the reaction coming up. I have seen President Obama has responded. He

:29:16. > :29:19.has been briefed on the results and he says, "We respect their

:29:20. > :29:26.decision." That's to say the voters of the UK. He says, "The UK and the

:29:27. > :29:29.European Union will remain indispensable partners of the US."

:29:30. > :29:36.President Obama responding to the vote a few minutes ago. "We respect

:29:37. > :29:40.the decision. The UK and the EU will remain indispensable partners of the

:29:41. > :29:45.US." What does it feel like here in the UK if you're a non-EU resident

:29:46. > :29:49.to be waking up in a country that's voted to leave the EU? One area that

:29:50. > :29:54.has seen a huge number of EU migrants in recent years is Wisbech

:29:55. > :30:00.in Cambridge sheurl. Robert Hall is there with more details.

:30:01. > :30:07.Discern is shining in Wisbech, smiles on the faces of pro Brexit

:30:08. > :30:13.voters, 71.4% of people in the Fenland region voted in favour of

:30:14. > :30:17.leaving the EU, in part down to this issue of immigration. About a third

:30:18. > :30:22.of the population in the town of Wisbech, once a busy river port, are

:30:23. > :30:26.from Eastern Europe. They came here to work on the farms and in local

:30:27. > :30:30.food processing plants, lots of them have their own businesses now, but

:30:31. > :30:34.it has led to division and dissatisfaction within the town,

:30:35. > :30:38.which has contributed to the Leave vote. I would like to speak to one

:30:39. > :30:43.family from Wisbech who are very much part of the town. You and your

:30:44. > :30:47.family, over this issue of immigration generally, you are a

:30:48. > :30:51.part of this decision-making Rosas, you voted to Leave. How big was it

:30:52. > :30:58.in your mind? About right big. There are social issues which need

:30:59. > :31:02.discussing around the country. Reaches need to be part of it. I

:31:03. > :31:06.have referred to division, how important it been? The migrant

:31:07. > :31:11.population did not arrive until a few years ago. Problems have arisen

:31:12. > :31:17.from integration with locals and migrant workers, hopefully things

:31:18. > :31:24.will get better. This was a divided family, you are a Leaver, your wife

:31:25. > :31:28.wavered and in the end she voted Remain, you two voted Remain. How

:31:29. > :31:31.did you feel when you saw the results? I was really discouraged by

:31:32. > :31:36.the fact that we had left the EU. The only things I saw from social

:31:37. > :31:40.media and my friends was that everyone was voting In, I did not

:31:41. > :31:46.expect to be out. What are your concerns? The economy has started to

:31:47. > :31:51.fall, and it will continue. The pound is already the same, I am not

:31:52. > :31:56.sure, as what it was in 1985? It is discouraging to note that the

:31:57. > :32:01.economy will only go down. You have just finished a degree, do you have

:32:02. > :32:05.concerns, can you see a way through this? In the grand scheme of things

:32:06. > :32:10.there were lots of economic reasons to stay, I am quite disappointed

:32:11. > :32:14.this morning. As my sister said, lots of people our age voted to

:32:15. > :32:18.remain, it is quite sad. What principles do you think people have

:32:19. > :32:23.voted on, do you think the campaign was conducted as it should have

:32:24. > :32:27.been? I don't think it was conducted well. There was lots of

:32:28. > :32:31.concentration on immigration, the imaginary ?350 million we sent to

:32:32. > :32:35.the EU each week but immigration was a big factor. People were quite

:32:36. > :32:42.narrow minded about it. Thank you all very much. We have already heard

:32:43. > :32:44.worrying silence from the City and other businesses, are you concerned

:32:45. > :32:51.about crossing the box that you left? I think a lot of people will

:32:52. > :32:56.be, I may be one, but we have to see what the future holds. We need to

:32:57. > :33:01.reunite and make it a better world, work together, work harder and make

:33:02. > :33:04.it the place that it should be. Thank you all very much. We will

:33:05. > :33:10.have more from Wisbech later but, for now, back to you.

:33:11. > :33:11.Thank you very much, Robert Hall in Wisbech with his guests.

:33:12. > :33:24.It is to 30 3pm. We are reporting at Westminster on the outcome of the EU

:33:25. > :33:25.referendum. You're watching a special BBC news programme with me,

:33:26. > :33:28.Huw Edwards. Now over to the BBC Newsroom

:33:29. > :33:32.for a summary of all the latest news After more than 40 years,

:33:33. > :33:35.the UK is to end its membership The decision has been decisive -

:33:36. > :33:39.with the Leave campaign securing its victory by a margin

:33:40. > :33:42.of more than one million votes. The Prime Minister David Cameron has

:33:43. > :33:45.said he will step down, and a new Prime Minister would be

:33:46. > :33:47.in place within months. In total, 17.4 million people voted

:33:48. > :33:53.for the UK to leave the EU. That compares with the 16.1 million

:33:54. > :33:57.voters who backed remain. Turnout was 72% - the highest level

:33:58. > :34:00.in a nationwide ballot As the UK woke up to the news

:34:01. > :34:09.it is to exit the European Union, Ukip's leader Nigel Farage led

:34:10. > :34:14.those in Westminster, saying June the 23rd should now be

:34:15. > :34:16.regarded as Britain's Those from the Remain camp described

:34:17. > :34:24.the result as a catastrophe. Supporters of Remain consoled each

:34:25. > :34:28.other as the campaign received lower-than-expected support

:34:29. > :34:31.across swathes of England - Speaking outside Downing Street,

:34:32. > :34:37.David Cameron said that he will resign as Prime Minister -

:34:38. > :34:39.with a new leader And as such I think the country

:34:40. > :35:01.requires fresh leadership to take I will do everything I can to steady

:35:02. > :35:05.the ship over the coming weeks and months, but I do not think it would

:35:06. > :35:09.be right for me to try to be the captain that steers the country to

:35:10. > :35:12.its next destination. This is not a decision I have taken lightly, but I

:35:13. > :35:15.believe it is in the national interest to have a period of

:35:16. > :35:21.stability, then the new leadership required. There is no need for a

:35:22. > :35:24.precise timetable today but, in my view, we should aim to have a new

:35:25. > :35:25.Prime Minister in place by the start of the Conservative Party conference

:35:26. > :35:27.in October. One of the politicians who led

:35:28. > :35:29.the campaign to Leave - the former Mayor of London,

:35:30. > :35:31.Boris Johnson - paid tribute to David Cameron as one of the most

:35:32. > :35:34.extraordinary politicians Mr Johnson also said that

:35:35. > :35:46.in the future Britain would benefit I believe we now have a glorious

:35:47. > :35:51.opportunity. We can pass our laws and set our taxes and highly

:35:52. > :35:58.according to the needs of the UK economy. -- entirely according. We

:35:59. > :36:01.can control our borders in a way that is not discriminatory but fair

:36:02. > :36:06.and balanced, and take the wind out of the sails of the extremist and

:36:07. > :36:07.those who would play politics with immigration.

:36:08. > :36:10.More than 62% of people in Scotland voted to stay in the EU.

:36:11. > :36:13.The First Minister of Scotland, Nicola Sturgeon, says that meant

:36:14. > :36:21.the option of a second referendum was on the table.

:36:22. > :36:27.-- a second independence referendum. When the Article 50 process is

:36:28. > :36:32.triggered in three months, the UK will be on a two year passed to the

:36:33. > :36:36.EU exit door. If Parliament judges that a second referendum is the best

:36:37. > :36:42.only way to protect our place in Europe, it have the option to hold

:36:43. > :36:46.one within that time scale. -- it must have. We must act now to

:36:47. > :36:51.protect our position. I can therefore confirmed today that in

:36:52. > :36:55.order to protect that position, we will begin to prepare the

:36:56. > :36:58.legislation that would be required to enable a new independence

:36:59. > :37:00.referendum to take days if and when Parliament so decides.

:37:01. > :37:02.The political ramifications have extended to the

:37:03. > :37:05.Two of its MPs have submitted a motion of no

:37:06. > :37:09.Jeremy Corbyn is criticised for his handling of his handling

:37:10. > :37:12.of the referendum campaign by Margaret Hodge and Ann Coffey.

:37:13. > :37:14.They've written to the chairman of the Parliamentary Labour Party.

:37:15. > :37:17.Their motion has no formal force but it calls

:37:18. > :37:20.for a discussion at next meeting of the PLP on Monday.

:37:21. > :37:23.If accepted, it would be followed by a secret ballot

:37:24. > :37:34.It comes as Jeremy Corbyn pulled out of a planned appearance at

:37:35. > :37:43.Glastonbury this weekend. Let's go back to Huw Edwards with

:37:44. > :37:50.more reaction at Westminster. Welcome back to jamming street. --

:37:51. > :37:54.Downing Street. We are reporting today in Downing Street on the

:37:55. > :37:58.position of the UK electorate to leave the European Union. We have a

:37:59. > :38:02.Prime Minister who is resigning and will leave office within five or six

:38:03. > :38:07.months, a position where the Labour leader is likely to be challenged,

:38:08. > :38:10.possibly next week. In Scotland, the First Minister is talking terms of a

:38:11. > :38:16.potential second referendum on independence. There are other

:38:17. > :38:18.layers, including the legal consequences of this decision.

:38:19. > :38:20.So how will the result change the UK's legal

:38:21. > :38:27.Our legal correspondent Clive Coleman is with me.

:38:28. > :38:33.There are lots of points we could raise, I want to start with what

:38:34. > :38:38.people referred to as Article 50 of the Lisbon Treaty, one of the main

:38:39. > :38:43.gateways for countries to leave the EU. Is that the root for Britain?

:38:44. > :38:46.That is the route for Britain, we are signed up to an international

:38:47. > :38:51.treaty, that is the way we get out of it. But the problem with Article

:38:52. > :38:58.50 is that it is pretty brief, it does not lay down any route map, any

:38:59. > :39:02.timescale particularly safe from this, once the Prime Minister has

:39:03. > :39:06.notified the president of the European Council of the UK's

:39:07. > :39:10.intention to leave, a clock starts ticking for two years, that is the

:39:11. > :39:14.window in which we have to agreed an arrangement whereby we leave.

:39:15. > :39:18.Interestingly, many people think that will be the two year period

:39:19. > :39:22.where we conclude everything, the trade agreement, the movement of

:39:23. > :39:26.people. That will simply be the divorce settlement. It is not

:39:27. > :39:30.impossible that we could include a trade agreement within that, but

:39:31. > :39:34.they are notoriously difficult and long in terms of their negotiations,

:39:35. > :39:39.they can take a decade or more. That two-year window is time we have to

:39:40. > :39:43.negotiate a basic divorce settlement. If we don't do it within

:39:44. > :39:48.two Mike Read years, that's it, we are out in who would have to

:39:49. > :39:51.negotiate with the EU just like a normal third-party state that is not

:39:52. > :39:58.a member -- if we do not do it within two years. Within that, there

:39:59. > :40:04.is huge and certainty as to how this is all done. That Article 50 has not

:40:05. > :40:08.been triggered yet, there was clear relief that the Prime Minister had

:40:09. > :40:13.not done so. Does he have to do that by a certain time, is the under

:40:14. > :40:17.pressure from other EU partners? The dog Article 50 does not give you a

:40:18. > :40:21.timeline as to when you had to do it. Their arguments not to do it

:40:22. > :40:25.soon, Russell is pretty much shuts down over the summer, the more

:40:26. > :40:31.breathing space you have, potentially the better thinking that

:40:32. > :40:34.can be done -- Pressel is pretty much shuts down over the summer. He

:40:35. > :40:42.says he will trigger a tally rapidly, there is a moral promise he

:40:43. > :40:47.has made to do that. If it goes on too long, people will get twitchy.

:40:48. > :40:51.Crucial point, all of the EU legislation which is applying to the

:40:52. > :40:58.UK today, what happens to all of that? That is the $64,000 question.

:40:59. > :41:02.No one knows. In order to expunge EU law from UK law, you would need an

:41:03. > :41:06.exercise in Parliamentary scrutiny the like of which we have never,

:41:07. > :41:10.ever seen. It would probably take one parliament, if not two all

:41:11. > :41:16.three. Our legal system has been growing for the last 40 years in

:41:17. > :41:19.conjunction with EU law, taking on-board EU law, which now runs

:41:20. > :41:26.through the veins of large areas of law. By Mintlaw, for instance,

:41:27. > :41:32.environmental law. -- employment law, for instance. So to go through

:41:33. > :41:37.everything, say we will repeal or amend, we take for ever, really. One

:41:38. > :41:40.of the ironies of this referendum could the better the only effective

:41:41. > :41:44.way to do that would be to give much more power to the executive, to give

:41:45. > :41:48.ministers power to do that, which would be something of an irony in a

:41:49. > :41:52.referendum that had at its heart a greater democracy resulting in a

:41:53. > :41:59.more executive power being given in shaping our law to Cabinet

:42:00. > :42:05.ministers. I don't love I subscribe to that, but I have heard that

:42:06. > :42:11.expressed. -- I don't know if I is described about. Thank you. Clive

:42:12. > :42:14.Coleman, talking is through some of the complexities and timescales that

:42:15. > :42:16.could be involved. Not just one or two Mike Read years, but it could be

:42:17. > :42:18.several. Heathrow Airport claims it will now

:42:19. > :42:21.play an even more vital role in keeping the UK connected

:42:22. > :42:23.to the rest of the world. The airport's chief executive,

:42:24. > :42:35.John Holland-Kaye, is there. He joins us. Thank you for joining

:42:36. > :42:40.us. Your response, first of all, given your crucial position in terms

:42:41. > :42:44.of the UK economy, to the vote we had overnight? I think it is a time

:42:45. > :42:48.when we all think about what kind of country do we want to have, what

:42:49. > :42:51.kind of economy? We are concerned about the state of the financial

:42:52. > :42:55.markets and what that means for us all. This is a point of clarity when

:42:56. > :42:59.we realise what really matters for the future. If we want to have a

:43:00. > :43:07.stronger economy for the next generation we need to invest now to

:43:08. > :43:10.make sure that it can be stronger. What Heathrow expansion will do is

:43:11. > :43:12.make sure we can trade with all of the growing world markets. We want

:43:13. > :43:14.to be a confident, as forward-looking nation, a greater

:43:15. > :43:19.economic superpower, only Heathrow expansion will allow us to do that.

:43:20. > :43:23.We need to look to the world, not just Europe, for future growth. That

:43:24. > :43:26.is why it is critical we get on with it. We are concerned about the

:43:27. > :43:31.stability of the UK economy, what better way to bring it than ?18

:43:32. > :43:36.billion privately funded investment in British infrastructure. That is a

:43:37. > :43:40.huge opportunity to create jobs and growth which any politician would

:43:41. > :43:44.want to grab with both hands. What do you think your chances of that

:43:45. > :43:49.happening if, let's say, Boris Johnson becomes Prime Minister? We

:43:50. > :43:52.are in a new reality where any political leader will want to

:43:53. > :43:56.provide economic stability today, investment and jobs and growth at

:43:57. > :43:59.Heathrow will do that, and set up the next generation for future

:44:00. > :44:04.success. We had to be outward looking, we are confident of future

:44:05. > :44:09.as a great trading nation of the world, so we need the direct flights

:44:10. > :44:12.to all the growing market of the world in Asia, North and South

:44:13. > :44:17.America. Only Heathrow can do that. Every time we look at that we come

:44:18. > :44:20.to the same conclusion, only Heathrow expansion will do that.

:44:21. > :44:24.Whether it is Boris Johnson or another Prime Minister, they will

:44:25. > :44:29.come to the same conclusion, get on as quickly as possible to expand

:44:30. > :44:31.Heathrow. We were talking to Clive Coleman about the legal complexity

:44:32. > :44:37.of unpicking lots of legislation and different aspect of the relationship

:44:38. > :44:41.with the EU, what in practical terms could this mean for big airports?

:44:42. > :44:46.Let's talk about Heathrow, given that it is the busy one. What in

:44:47. > :44:51.practical terms could that mean for you? In the short-term, nothing

:44:52. > :44:55.changes. If you are travelling as a passenger it is exactly the same

:44:56. > :44:59.today as yesterday and will be the same in two Mike Read years as it is

:45:00. > :45:05.today. People should not expect anything to change in duty three or

:45:06. > :45:10.immigration. In the long term, we are concerned about the health of

:45:11. > :45:12.the economy. -- in duty free or immigration. We expect changes

:45:13. > :45:17.around immigration, perhaps around duty free or perhaps around

:45:18. > :45:24.employment. One thing is clear, we need more than ever to have a

:45:25. > :45:29.strong, healthy porter at the heart of the UK, that is what Heathrow

:45:30. > :45:34.does. Whatever arrangement we have with the EU, we need to have... Be

:45:35. > :45:38.planning now for the long-term creative links with the other

:45:39. > :45:42.growing markets of the world. Thank you, John.

:45:43. > :45:47.NEBREAK The Chief Executive of Heathrow

:45:48. > :45:50.Airport making a clear appeal to whoever succeeds David Cameron at

:45:51. > :45:55.ten Downing Street for the Heathrow expansion option which has been a

:45:56. > :45:58.very, very, controversial debate. Boris Johnson has strong views on it

:45:59. > :46:00.because he wanted an altogether different solution. Let's see if

:46:01. > :46:16.that might change. The Prime Minister will be out of

:46:17. > :46:21.office by October of this year, by the date of the kich conference,

:46:22. > :46:27.that's what he said. -- Conservative Party Conference. Let's join Jayne

:46:28. > :46:30.Hill for more reaction. We're going to pick up on the conversation you

:46:31. > :46:35.were having about Heathrow actually because we'll talk more about the

:46:36. > :46:40.impact on business, the economy, the world of work, alongside me here, on

:46:41. > :46:46.a very busy Westminster, Frances O'Grady, the head of the TUC and

:46:47. > :46:50.John Longworth formerly of the British Chambers of Commerce.

:46:51. > :46:54.Welcome to both of you. A question put to our guest about Heathrow.

:46:55. > :46:59.What changes from here on in Frances O'Grady? Well, the TUC wants to see

:47:00. > :47:04.some urgent action and national action plan to shore up the pound.

:47:05. > :47:08.Secure the economy, but crucially, to protect people's jobs and

:47:09. > :47:14.livelihoods. We can't have working people paying the price again. We

:47:15. > :47:18.want the Government to pull in politicians of all stripes, unions

:47:19. > :47:23.and business to start working together on how we get a deal to

:47:24. > :47:29.retain access to the EU market on which so many of our manufacturing

:47:30. > :47:34.exports and good jobs depend. We'll talk more about that. John

:47:35. > :47:39.Longworth, you wanted to leave? Of course, I was chairman of the Vote

:47:40. > :47:43.Leave business council. The one thing we can't do is return to the

:47:44. > :47:47.establishment business as usual. If we do, we'll end up negotiating our

:47:48. > :47:51.way back into the European single market or losing the benefits of

:47:52. > :47:53.leaving. The fact that Brexit business community needs to watch

:47:54. > :47:57.the politicians like a hawk to make sure we get the real benefits of

:47:58. > :48:03.leaving and those benefits are not to do with the single market, the

:48:04. > :48:07.dividend of 1.2% potential growth from the contribution we make that

:48:08. > :48:11.we no longer have to make from a reduction in regulatory cost from

:48:12. > :48:16.the removal, of course, the big external barriers that the EU

:48:17. > :48:21.actually apply that make food and clothing and footwear more expensive

:48:22. > :48:30.for UK consumers. Those are the things that will give a boost to the

:48:31. > :48:41.UK economy. They tell more to us than we do from them -- they sell

:48:42. > :48:47.more to us than we do to them. I think today is a day where we need a

:48:48. > :48:50.bit of unity. We have had a very, very divisive and sometimes nasty

:48:51. > :48:54.campaign. I think today everybody needs to roll up their sleeves and

:48:55. > :48:57.be very clear that this isn't about politicians jobs, this is about

:48:58. > :49:01.working people's jobs and that has to be top of the agenda for

:49:02. > :49:06.everybody. It is a long, slow process. Can we all agree on that?

:49:07. > :49:11.Negotiating trade deals, negotiating agreements, none of this is going to

:49:12. > :49:16.happen quickly and don't we always hear John Longworth that business

:49:17. > :49:20.hates uncertainty. So that in itself, for the next couple of

:49:21. > :49:25.years, is that not an unsettling period? The greatest uncertainty

:49:26. > :49:29.would have been to remain in the European Union where we would have

:49:30. > :49:34.had none of the decision making and what we need to do is make sure we

:49:35. > :49:37.get the dividend, the boost to the economy that we can have from

:49:38. > :49:40.leaving and we can do some of that very quickly and we determine the

:49:41. > :49:46.pace at which we exit the European Union. We don't have to trigger

:49:47. > :49:50.Article 50, we can have prenegotiations informerly and dot

:49:51. > :49:53.Article 50 stuff quickly. If we find we aren't getting the deal, we ought

:49:54. > :49:59.to simply leave and get on and make our own way. I think, you know,

:50:00. > :50:05.everybody wants to get a good deal and that's what we should focus on,

:50:06. > :50:10.but I do worry about others talking about taking a bit of a punt on how

:50:11. > :50:14.quickly we would find other trade deals when it is people's

:50:15. > :50:17.livelihoods that are at stake. A lot of working people have already been

:50:18. > :50:22.through one hell of a crisis in terms of a financial crisis in 2008.

:50:23. > :50:26.They feel angry and disaffected, but they often lost out, not just in

:50:27. > :50:29.terms of jobs and pay packets, but through the cuts, their local

:50:30. > :50:34.services too. We've got a generation of young people who didn't vote for

:50:35. > :50:37.this Brexit and I think we owe them and we should be looking at a

:50:38. > :50:41.national programme to get demand into the economy like building

:50:42. > :50:45.affordable homes. Which young people in particular need to make sure that

:50:46. > :50:50.we've got jobs and a decent life for people in those communities. As you

:50:51. > :50:54.say, we don't want to re-run the campaign, but people watching will

:50:55. > :50:58.know John Longworth in the run-up to this, a lot of big businesses wanted

:50:59. > :51:03.the UK to remain. They did not want the vote that we have got this

:51:04. > :51:08.morning. Those businesses that were so fer mant about it, what are they

:51:09. > :51:14.doing now? What will they do? Will they adapt? Contrary to public

:51:15. > :51:17.opinion, we had business leaders and Entrepreneurs signed up for the

:51:18. > :51:21.Leave campaign. The multinationals fighting against us and the Crib, of

:51:22. > :51:25.course, are saying as I predicted that things will be OK and they can

:51:26. > :51:28.manage the change. Pity they didn't say that during the campaign. The

:51:29. > :51:32.fact is, of course, it is working people in the UK who've suffered the

:51:33. > :51:34.most from the European Union. While the multinationals have benefited

:51:35. > :51:40.and actually the Labour Party should be ashamed of themselves for having

:51:41. > :51:43.a abandoned working people as a consequence of which they're

:51:44. > :51:47.abandoning the Labour Party. You sat on the boards of Asda and Tesco. You

:51:48. > :51:51.know the big business prospective too. What we need to concentrate on

:51:52. > :51:55.is building confidence, is shoring up the pound, and is making sure

:51:56. > :52:00.that we've got decent jobs for people. This is serious stuff. I

:52:01. > :52:04.think we need to move on from the campaign and focus on working

:52:05. > :52:10.together to secure those decent jobs and protect them. All right, we will

:52:11. > :52:16.be talking plenty about this in the coming weeks, thank you, Frances

:52:17. > :52:22.O'Grady and John Longworth. Let's remind ourselves of how the vote

:52:23. > :52:26.broke down because, of course, there were regional variations. Christian

:52:27. > :52:32.Fraser has been looking through the numbers.

:52:33. > :52:34.Let's take a look at those numbers in greater detail.

:52:35. > :52:50.Over 28 million votes cast on Thursday, turnout 73%.

:52:51. > :52:54.Parts of the country that don't normally get involved in the

:52:55. > :52:58.political process coming out to vote. That made a huge difference as

:52:59. > :53:02.you can see in the central belts of England and into the northern,

:53:03. > :53:06.north-west area where Labour traditionally are so strong. These

:53:07. > :53:10.isolated bits of yellow, the metropolitan areas, Liverpool,

:53:11. > :53:15.Manchester, the wealthier parts of Yorkshire, Leeds, Yorkshire and

:53:16. > :53:19.Harrogate and isolated Newcastle and the north-east, not by as big a

:53:20. > :53:24.margin as perhaps Remain were hoping for up there. London, almost overall

:53:25. > :53:28.in London, went for Remain as we expected, but not so across the

:53:29. > :53:32.South East. You can see big slugs of Kent there also in blue. Well, let's

:53:33. > :53:36.look at the picture in Scotland because it is very different, of

:53:37. > :53:41.course, all 32 voting areas going for Remain. The turnout, 2.8 million

:53:42. > :53:44.people in Scotland. Lower than the UK average. That maybe, of course,

:53:45. > :53:49.because of the number of votes that they've had the last two years. Four

:53:50. > :53:55.times that they have been to the polls in those two years. Edinburgh,

:53:56. > :53:59.74% for Remain and of course, that opens up this whole discussion now

:54:00. > :54:05.about a second independence vote in Scotland. Similar discussions now

:54:06. > :54:11.going on in Northern Ireland where again, they voted for Remain. Again

:54:12. > :54:17.a low turnout, 790,000 voters. Foyle, up here, this was one of the

:54:18. > :54:22.top five Remain areas in the UK. North Antrim, not far away, was one

:54:23. > :54:28.of the top Leave areas in the UK. Three out of four areas in Belfast

:54:29. > :54:35.going for Remain. And let me show you another picture again in Wales.

:54:36. > :54:41.Just five of the 22 voting areas in Wales going for Remain. Cardiff did.

:54:42. > :54:44.Swansea didn't, but some other key Labour areas, Merthyr Tydfil,

:54:45. > :54:50.Newport and Caerphilly going towards Leave. Let me show you the top five

:54:51. > :54:54.areas that went for Leave in the country. Top of the file is a very

:54:55. > :55:00.interesting one. This is Boston in Lincolnshire. 75%. Boston, according

:55:01. > :55:04.to the 2011 census had the biggest percentage of Eastern European

:55:05. > :55:12.migrants in England and Wales. Top of the pile of the leavers. South

:55:13. > :55:19.Holland, Castle Point, these areas, big support for Ukip. Great Yarmouth

:55:20. > :55:27.has a Ukip mayor. The top five Remain, Gibraltar, almost universal

:55:28. > :55:32.support for Remain. Lambeth, Hackney, all for Remain. The areas

:55:33. > :55:36.in darker blue, those areas of the country that went most for Leave.

:55:37. > :55:41.You can see the east of the country, we've got East Riding in Yorkshire

:55:42. > :55:45.here, we talked about Lincolnshire, Great Yarmouth down here, but other

:55:46. > :55:51.parts of the country as well, North Antrim over here in dark blue. This

:55:52. > :55:55.a similar map for Remain. In darker orange areas, the central belt of

:55:56. > :56:01.Scotland and the Western Isles, the Orkney Islands in orange there and

:56:02. > :56:03.down here, you've got Cambridgeshire, London, and then

:56:04. > :56:08.that's Brighton down at the bottom. So that gives you a little bit of a

:56:09. > :56:11.picture of how the country was divided and we're also starting to

:56:12. > :56:15.see some of information that maybe there was a generational split as

:56:16. > :56:19.well. We will hope to see some detail on that as the days go by,

:56:20. > :56:23.but certainly the younger people voting more for Remain. If you want

:56:24. > :56:34.to look at the details, they are on the website:

:56:35. > :56:45.With us now is Alastair Campbell, the former Director

:56:46. > :56:47.of Communications for Labour under Tony Blair.

:56:48. > :56:52.What was the main driver of this result? Was it to do with economic

:56:53. > :56:56.hardship or to do with levels of migration? I think they became

:56:57. > :57:01.connected. I think for me the biggest thing is being a sense in

:57:02. > :57:03.lots of different communities that people feel the global financial

:57:04. > :57:08.crisis happened. The people who caused it got away with it pretty

:57:09. > :57:11.much Scott free and they have continued to pay a price through

:57:12. > :57:15.austerity policies and I think part of the problem when David Cameron

:57:16. > :57:19.and George Osborne were hammering the message about economic risk, I

:57:20. > :57:22.think they were right to do and we are seeing the consequences of this

:57:23. > :57:25.vote to the economy already, but I think that for a lot of people, they

:57:26. > :57:34.were thinking, "What is this great economy you're talking about because

:57:35. > :57:38.I don't feel? We're going through an area around democratic politics

:57:39. > :57:41.where the public are looking for reasons to kick politicians, that's

:57:42. > :57:44.why I was always worried about the referendum. I know it sounds

:57:45. > :57:49.anti-democratic to say I don't think we should have had this. It was

:57:50. > :57:53.announced three years as a tactic to deal with the rise of Ukip and the

:57:54. > :57:57.Tory right and three years later, we are having it in very, very

:57:58. > :58:03.different circumstances and I was worried when people started saying,

:58:04. > :58:06."The turn keep out is really high. That's going to help Remain." People

:58:07. > :58:09.I was coming across in northern towns and cities, they were voting

:58:10. > :58:17.for the first time. They were coming out to vote against something. I

:58:18. > :58:22.think that, you know, there is not No one reason. I think it is about

:58:23. > :58:24.this sense of division and inequality and people feeling there

:58:25. > :58:28.is lots of people in this country that do really, really, really well

:58:29. > :58:32.and they keep on doing better and there is people just being left

:58:33. > :58:36.behind. Do you think some Labour MPs are

:58:37. > :58:39.being fair when they accuse Jeremy Corbyn and some of his team of not

:58:40. > :58:44.having pulled their weight in the campaign? I think people knew the

:58:45. > :58:47.whole way through that this was going to be a really, really tough

:58:48. > :58:51.fight. That was obvious from the start. What that meant everybody, I

:58:52. > :58:57.think, who had, the possibility of playing a role to help win it, had

:58:58. > :59:01.to do that to the max. And I don't really think that you can say that

:59:02. > :59:05.was done and I think latterly, the Labour Party as an organisation, did

:59:06. > :59:08.an incredible job. The Labour Party in terms of, you know, getting out,

:59:09. > :59:11.particularly to the really difficult areas and trying to find the

:59:12. > :59:15.supporters that would come out and vote, but I think there was a

:59:16. > :59:18.confusion about the message and I think there was a difficulty in the

:59:19. > :59:21.fact that David Cameron was pushing one message and Jeremy Corbyn

:59:22. > :59:26.pushing a different sort of message on the same issues and Nicola

:59:27. > :59:30.Sturgeon something different. I just think that's, that weakened the

:59:31. > :59:36.campaign. Whereas the Leave side, even though they had this very

:59:37. > :59:40.divided camps, and they were actually complimentary in terms of

:59:41. > :59:43.the messages therm put there. It is interesting watching Nigel Farage

:59:44. > :59:47.today trying to disown the ?350 million which always was for the

:59:48. > :59:52.birds, but he disowned that. He can say it was nothing to do with him,

:59:53. > :59:56.but it was effective for his campaign and Michael Gove can say he

:59:57. > :00:01.shuddered at Nigel Farage's poster, but it was effective for his

:00:02. > :00:05.campaign because they were marching to the same drum and now we're all

:00:06. > :00:08.going to have to live with the same consequences.

:00:09. > :00:14.Just a thought about the state of the Labour Party, do you think

:00:15. > :00:19.people like Margaret Hodge are right to be talking about a challenge to

:00:20. > :00:24.Jeremy Corbyn? I'm obsessed with winning elections for the Labour

:00:25. > :00:30.Party. We have lost the last two. We just had to be honest. We had to be

:00:31. > :00:34.honest. Here we are, with the Government in meltdown, with the

:00:35. > :00:37.Conservative Party as divided as I can remember it even during the last

:00:38. > :00:41.days of John Major and the last days of Margaret Thatcher, failing on all

:00:42. > :00:48.sorts of issues, and yet they are still ahead in the polls. Even

:00:49. > :00:52.though we will have chaos for the next couple of years, they will get

:00:53. > :00:57.a sense of renewal from a new leader. We have to be honest, in the

:00:58. > :01:00.state we are in, with the team we have, does the Labour Party look

:01:01. > :01:05.like it can win a general election? Like it can win over people that we

:01:06. > :01:09.have lost? There are all sorts of issues, some of them from the time

:01:10. > :01:14.when I was involved. Or does it look like, actually, we are heading to

:01:15. > :01:18.nowhere? I think the answer is pretty obvious.

:01:19. > :01:23.And that leads you to what conclusion in terms of the form of

:01:24. > :01:26.the Labour leadership in the year to come? I don't know. You have to

:01:27. > :01:33.understand that Jeremy Corbyn became leader, in a funny sort of way, as

:01:34. > :01:37.part of this anti-politics thing, because he was not like the others,

:01:38. > :01:43.like the Labour leaders we had had before. Then all these new members

:01:44. > :01:48.came in, the new members came in and they are very fervent supporters of

:01:49. > :01:52.Jeremy Corbyn. I don't know, if there was a challenge, if he would

:01:53. > :01:57.get on the ballot paper and he might win again. I don't know. But part of

:01:58. > :02:01.the act of leadership, I think, is to be honest about whether you can

:02:02. > :02:06.lead, and whether you can do the job you had to do, which is to be the

:02:07. > :02:10.alternative Prime Minister and lead a party to win an election, to get

:02:11. > :02:15.into power. I am depressed enough about what has happened to the

:02:16. > :02:19.country in terms of the vote, I could say I am any happier about the

:02:20. > :02:23.state of the Labour Party. What happened in Scotland should be a

:02:24. > :02:28.warning for us. We thought we could win Scotland for ever. The SNP came

:02:29. > :02:33.along and pretty much wiped us out. You have a situation in parts of the

:02:34. > :02:35.North of England where they are described as traditional Labour

:02:36. > :02:43.heartlands, our call vote, those concepts have gone. Difficult,

:02:44. > :02:47.difficult times. When you look at the parliamentary

:02:48. > :02:53.Labour Party and Celia, prominent figures today, who is best placed,

:02:54. > :03:00.in your view, to take Labour on in the way that you would think would

:03:01. > :03:05.be contagious? -- senior, prominent figures. I don't know. As we have

:03:06. > :03:08.seen today, we live in a democracy and the political parties have

:03:09. > :03:13.democratic systems, that is why Corbyn is leader and might be leader

:03:14. > :03:17.again even if there was a contest. But just as Americans and the world

:03:18. > :03:21.is looking at Donald Trump and saying, is that the best you can do

:03:22. > :03:25.in a country as fast as that, I think people are looking at our

:03:26. > :03:30.politics at the moment and asking similar questions. Lots of it is

:03:31. > :03:34.what politics has become, how people engage, the narrowing of the gene

:03:35. > :03:38.pool, if you like, even prepared to go into politics because it is so

:03:39. > :03:42.difficult, nasty and the rest of it. I will not pick out a name, I just

:03:43. > :03:47.feel there is a hell of a lot of talent in the Labour Party, we still

:03:48. > :03:53.had amazing people working for the Labour Party, they have shown that

:03:54. > :03:58.in recent days. But as somebody who just thinks there is nothing wrong

:03:59. > :04:02.in being obsessed with winning, because without that you cannot do

:04:03. > :04:08.anything, I really worry about where we are, right now.

:04:09. > :04:12.Good to talk to you, thank you for joining us on BBC News, Alistair

:04:13. > :04:15.Campbell, former director of communications at Downing Street.

:04:16. > :04:22.You are watching the BBC News special coverage of the results of

:04:23. > :04:34.this referendum on the relationship with the E U. That relationship is

:04:35. > :04:43.to be broken 43 years after the late -- decision to go into it in 1975.

:04:44. > :04:49.It is a humongous decision that the British voters have taken, and there

:04:50. > :04:52.are many decisions to be taken in the future. After more than four

:04:53. > :04:55.decades in the EU, over 70 million people vote to leave.

:04:56. > :04:58.David Cameron says he is now no longer the right person

:04:59. > :05:02.I will do everything I can as Prime Minister to steady the ship

:05:03. > :05:12.that steers our country to its next destination.

:05:13. > :05:14.There was jubilation in the Leave camp -

:05:15. > :05:16.but Boris Johnson warned that the vote wouldn't lead

:05:17. > :05:25.Nothing will change over the short term except that work will have

:05:26. > :05:28.to begin on how to give effect to the will of the people,

:05:29. > :05:37.and to extricate this country from the supranational system.

:05:38. > :05:40.Dramatic falls for both the pound and the markets following the news -

:05:41. > :05:43.but the Bank of England says it's taking all necessary steps to keep

:05:44. > :05:50.After Scots vote overwhelmingly to remain in the EU,

:05:51. > :05:52.Nicola Sturgeon puts the prospect of a second vote on Scottish

:05:53. > :05:59.It is a significant and material change in circumstances,

:06:00. > :06:02.and it is therefore a statement of the obvious that the option

:06:03. > :06:18.of a second referendum must be on the table.

:06:19. > :06:27.And Matthew Amroliwala in Brussels. Leaders here have a blunt message --

:06:28. > :06:41.Leave is Leave, now get on with it. After more than 40 years, Britain

:06:42. > :06:46.has voted to end its membership The vote was decisive -

:06:47. > :06:50.52% chose to leave the EU, Within hours, David Cameron

:06:51. > :06:56.announced he was standing He will leave office in October of

:06:57. > :07:06.this year. He said he'd stay in Number Ten

:07:07. > :07:09.for the next few months but that the country

:07:10. > :07:11.required fresh leadership. Boris Johnson, who campaigned

:07:12. > :07:13.for a Leave vote, said the UK now had a glorious opportunity

:07:14. > :07:16.to pass its own laws, set its own taxes and find its voice

:07:17. > :07:20.in the world again. Let's take a closer look

:07:21. > :07:22.at the final result which, shows that Leave secured its victory

:07:23. > :07:25.by a margin of more In total, 17.4 million people voted

:07:26. > :07:32.for the UK to leave the EU. That compares with the 16.1 million

:07:33. > :07:36.voters who backed Remain. More than 72% of eligible

:07:37. > :07:45.voters took part. That is people who were registered

:07:46. > :07:48.to vote. In England, more than 15 million

:07:49. > :07:51.people voted for the UK to leave the European Union,

:07:52. > :07:53.13.2 million people backed Remain. In Scotland every voting area came

:07:54. > :07:56.out in favour of Remain. 62% of Scottish voters backed

:07:57. > :07:58.Remain, with 38% In Wales, Leave won over 52%

:07:59. > :08:04.of the vote and secured the most votes in all but five

:08:05. > :08:11.of the 22 counting areas. In Northern Ireland,

:08:12. > :08:14.which shares a land border with the European Union,

:08:15. > :08:18.voters backed Remain - with 55% of voters choosing

:08:19. > :08:30.to remain in the EU with 45% voting Plenty for us to talk about to say

:08:31. > :08:34.the least. Will have all the reaction from Westminster, from the

:08:35. > :08:39.City of London, where it has been turbulent, and other parts of the

:08:40. > :08:42.EU. At first, our political correspondent Carole Walker reports

:08:43. > :08:45.on the dramatically bent so far. -- but first.

:08:46. > :08:47.The people have voted for a new destiny for Britain.

:08:48. > :08:50.This means that the UK has voted to leave the European Union.

:08:51. > :08:53.It is a decision few predicted at the start of this campaign.

:08:54. > :08:55.A decision which has forced the Prime Minister out of office.

:08:56. > :08:58.There was no hiding the emotion as David Cameron with his wife,

:08:59. > :09:04.The British people have voted to leave the European Union

:09:05. > :09:12.He had fought and lost the battle to persuade the country to stay

:09:13. > :09:17.I fought this campaign in the only way I know how which is to say

:09:18. > :09:19.directly and passionately what I think and feel,

:09:20. > :09:31.But the British people have made a very clear decision to take

:09:32. > :09:34.a different path and as such, I think the country requires

:09:35. > :09:40.fresh leadership to take it in this direction.

:09:41. > :09:44.I will do everything I can as Prime Minister to steady the ship

:09:45. > :09:48.over the coming weeks and months, but I do not think it would be right

:09:49. > :09:50.for me to try to be the captain that steers our country

:09:51. > :09:57.From the moment the results starting coming in, just after midnight,

:09:58. > :10:06.The total number of votes cast in favour of Leave was 82,000.

:10:07. > :10:09.By the end of the night, Leave had won a clean sweep

:10:10. > :10:11.across the north of England, the Midlands, the east

:10:12. > :10:17.London was the only region of England to support

:10:18. > :10:25.The result in Flintshire reflected the outcome across Wales.

:10:26. > :10:30.But Northern Ireland voted to remain in the EU,

:10:31. > :10:33.Sinn Fein said it intensifies the case for a vote

:10:34. > :10:39.on whether Northern Ireland should leave the United Kingdom.

:10:40. > :10:41.And Scotland, as expected, voted by a clear majority

:10:42. > :10:46.Scotland's First Minister said it was democratically unacceptable

:10:47. > :10:52.for it to be taken out of the EU against its will.

:10:53. > :10:55.Scotland does now face that prospect.

:10:56. > :10:57.It is a significant and material change in circumstances

:10:58. > :11:00.and it is therefore, a statement of the obvious

:11:01. > :11:02.that the option of a second referendum must be on the table

:11:03. > :11:11.But at Westminster, jubilant Leave campaigners have been celebrating.

:11:12. > :11:16.Nigel Farage said he was thrilled that the country had

:11:17. > :11:18.decided to break free from what he called a failing,

:11:19. > :11:23.17 million people have said we must leave the European Union.

:11:24. > :11:29.A Government that gets on with the job.

:11:30. > :11:37.A Government that begins the renegotiation of our

:11:38. > :11:40.Boris Johnson struggled through the throng at his home.

:11:41. > :11:42.Then paid tribute to the Prime Minister

:11:43. > :11:44.for his bravery in giving the British people their say.

:11:45. > :11:47.I believe we now have a glorious opportunity.

:11:48. > :11:49.We can pass our laws and set our taxes entirely according

:11:50. > :11:58.We can control our own borders in a way that is not discriminatory

:11:59. > :12:01.but fair and balanced and take the wind out of the sails

:12:02. > :12:03.of the extremists and those who would play

:12:04. > :12:14.But in the City, shares plunged and the pound fell dramatically

:12:15. > :12:16.despite all the attempts at reassurance from political

:12:17. > :12:18.leaders and the Bank of England which promised to take whatever

:12:19. > :12:24.measures were necessary to support the economy.

:12:25. > :12:28.And there are now questions over the future of the Labour leader,

:12:29. > :12:31.who has been blamed for a lacklustre campaign to remain in the EU

:12:32. > :12:36.which failed to convince many Labour supporters.

:12:37. > :12:38.Clearly, there are some very difficult days ahead.

:12:39. > :12:42.The value of the pound has already fallen and there will therefore be

:12:43. > :12:44.job consequences as a result of this decision.

:12:45. > :12:46.REPORTER: The Prime Minister has resigned.

:12:47. > :12:58.Now two senior Labour MPs have tabled a motion of no-confidence in

:12:59. > :13:01.Mr 's leadership. I think Jeremy Corbyn should resign

:13:02. > :13:04.as leader of the Labour Party. This was a test of leadership,

:13:05. > :13:06.the European referendum campaign. He was very half-hearted

:13:07. > :13:10.in the leadership he gave For Britain, for Europe

:13:11. > :13:16.as the country embarks on a new and uncertain

:13:17. > :13:38.future outside the EU We can talk about, clearly, the kind

:13:39. > :13:42.of strategy that will be in place over the next few months, because it

:13:43. > :13:47.will be very complex in terms of the legal requirements. But some very

:13:48. > :13:49.raw politics happening, not just within the Conservative Party, but

:13:50. > :13:51.as Alistair Campbell signalled, within Labour.

:13:52. > :13:54.We can speak to the Labour MP Caroline Flint, who has

:13:55. > :13:56.spent the last few weeks on the Remain campaign trail.

:13:57. > :14:02.Caroline, we will come to the specific Labour question in a

:14:03. > :14:07.moment, but you sense of how this campaign led to the result that we

:14:08. > :14:12.got overnight? I think what became very clear is that, actually, there

:14:13. > :14:17.were not enough flack that the Remain campaign could produce on the

:14:18. > :14:20.economy, security, that was going to win over the feelings of many people

:14:21. > :14:26.around our country, particularly outside of our big cities, that

:14:27. > :14:32.their concerns about immigration trump that. It was a triumph of

:14:33. > :14:37.feelings over fact. That is a worry I have had for some time, that many

:14:38. > :14:41.of the people I represent, but also in other parts of the country, not

:14:42. > :14:46.just in Labour heartlands but in Tory areas, a sense that small-town

:14:47. > :14:50.Britain is being left behind, that the establishment and the elite are

:14:51. > :14:54.not speaking their language and not listening to them. Unfortunately,

:14:55. > :14:59.that is what won at the end of the day. It is with great regret.

:15:00. > :15:03.Clearly, a decisive decision has been made, I believe we should

:15:04. > :15:07.accept that and do as much as we can to make sure that we protect

:15:08. > :15:11.people's living standards and jobs and opportunities in the future, but

:15:12. > :15:15.there will be difficult decisions ahead as well as some of what we are

:15:16. > :15:19.already seeing, some of the bumps and rocky road is affecting the

:15:20. > :15:24.economy already. What was your assessment of the way that Labour

:15:25. > :15:25.went about campaigning in those areas where, traditionally, it has

:15:26. > :15:38.been strong? I think it is right there Labour

:15:39. > :15:42.should have been expecting 70% to 80% of Labour voters voting Remain.

:15:43. > :15:48.We've come out of this referendum with something under half of our

:15:49. > :15:51.Labour voters voting Remain and the rest voting Leave and that's for a

:15:52. > :15:56.number of reasons. I think Labour has failed to understand the

:15:57. > :15:59.concerns of people in communities in Doncaster and elsewhere in the

:16:00. > :16:05.country and in Wales. I think that actually, you know, we never really

:16:06. > :16:10.talked about the immigration concerns and also Jeremy has to take

:16:11. > :16:13.some responsibility because he provided a rather nuanced message

:16:14. > :16:19.about the European Union that was not as positive as I would have

:16:20. > :16:25.liked it to have been and if you add to that, I think his, you know, his

:16:26. > :16:28.refusal really to engage in some of the questions about immigration,

:16:29. > :16:34.that combination saw us fail so badly last night.

:16:35. > :16:39.Where does that leave him as leader because, of course, some of your

:16:40. > :16:43.colleagues are already making some outspaen remarks about wanting to

:16:44. > :16:46.change the leadership? Well, I understanding why colleagues are

:16:47. > :16:50.supporting the motion and I understand why colleagues are

:16:51. > :16:58.worried because you know Huw, who knows what's going to happen next?

:16:59. > :17:02.As well as having to deal with our decision to leave and all the

:17:03. > :17:05.ramifications of that. Within six months we may have a general

:17:06. > :17:14.election and the question that Labour and Jeremy has to ask is are

:17:15. > :17:19.we ready? Can we bridge the gap between those who voted Remain and

:17:20. > :17:23.those members who think Jeremy is great and for others who are

:17:24. > :17:27.drifting away from us. My worry is if there is an election, there maybe

:17:28. > :17:30.another party that wants to fill that gap in our Labour heartland

:17:31. > :17:35.areas and I don't want to see that happen. So look, leadership is about

:17:36. > :17:39.responsibility. It is about recognising failure and if you've

:17:40. > :17:41.contributed to it and it is about stepping up and explaining do you

:17:42. > :17:47.acknowledge that and what are you going to do about it? That's what I

:17:48. > :17:52.want to hear from Jeremy and I'm sure we will have that discussion on

:17:53. > :17:57.Monday night at the PLP. Based on the leadership of Mr Corbyn so far,

:17:58. > :18:01.Caroline, what are your thoughts on the prospects of getting the kind of

:18:02. > :18:06.change that you think is needed? I have to say I'm being tweeted by

:18:07. > :18:12.some of Mr Corbyn's supporters who are angry that I am talking to you

:18:13. > :18:15.about this at all which maybe isn't surprising given the fact that you

:18:16. > :18:25.are critical, what are the prospects of the kind of change that you want.

:18:26. > :18:27.The Labour Party exists to win elections, to do great things for

:18:28. > :18:32.communities around the country and we have to find a way to bridge, if

:18:33. > :18:35.you like, sometimes the gap between our metropolitan Labour Party

:18:36. > :18:40.members and supporters and those in the communities around Britain that

:18:41. > :18:45.are more working class, white, but also people who have, you know,

:18:46. > :18:48.maybe more of a Labour attitude rather than a socialist attitude to

:18:49. > :18:51.things which is about how are they being looked after in their

:18:52. > :18:56.community? What is the future for them? When we bridge that gap, we

:18:57. > :19:01.win elections. Now, look, I know people don't like us talking about

:19:02. > :19:07.how we sort out ut party, but if we can't talk about what went wrong for

:19:08. > :19:11.Labour in this big test across the country, then when do we have that

:19:12. > :19:16.conversation? You know, I don't want us to find that we go into another

:19:17. > :19:21.election, whether it is in 2020 or in six months time, not realising

:19:22. > :19:29.what the problem is and how we bridge the gap. I think that's about

:19:30. > :19:32.straightforward, honest politics, it is about talking honestly about

:19:33. > :19:36.where we need to go. I hope the many Labour voters who didn't vote Remain

:19:37. > :19:40.last night will feel if Labour politicians are actually getting out

:19:41. > :19:43.there and being open about understanding their concerns,

:19:44. > :19:49.understanding our failure to connect with them, that's part of the way

:19:50. > :19:52.we, if you like, refresh and get our relationship on to better ground.

:19:53. > :19:56.And you know, I'm doing this because, you know, I'm here for the

:19:57. > :20:00.Labour Party, not for any individuals and you know, what I

:20:01. > :20:03.think, Jeremy is as well and I campaigned with Jeremy during the

:20:04. > :20:08.campaign, and he was great when he came to my constituency. I had him

:20:09. > :20:11.on our leaflets, but the truth is at the moment, Jeremy's leadership

:20:12. > :20:15.doesn't seem to be reaching out to those parts of Britain, those parts

:20:16. > :20:21.of our Labour vote that we depend on to win a general election.

:20:22. > :20:24.Just to spell it out, Caroline, just in case viewers haven't got the

:20:25. > :20:30.message, you're saying in effect, that you want another leader? I'm

:20:31. > :20:35.saying that I want leaders, Jeremy and to be honest, we had the similar

:20:36. > :20:39.problems under Ed Miliband, I want Labour leaders to step up and

:20:40. > :20:43.discuss properly and honestly why we're not reaching people, why are

:20:44. > :20:46.we not connecting and if Jeremy has got something to say about how he's

:20:47. > :20:53.going to put that right, I'm ready to listen.

:20:54. > :20:56.Caroline, thank you very much for joining us on College Green outside

:20:57. > :21:01.Parliament. Caroline Flint the Labour MP there with her pretty

:21:02. > :21:04.forthright message. Wet get a reaction from Vicki Young in a

:21:05. > :21:09.moment. I want to get an update on the financial markets. Let's join

:21:10. > :21:13.Ben Thompson who is monitoring events in the City of London.

:21:14. > :21:17.Huw, thank you very much. Yeah, let's take you straight to the

:21:18. > :21:21.forward, it is the first hour of trade in New York. We were waiting

:21:22. > :21:24.to see how they would respond to everything we have seen in Asia and

:21:25. > :21:28.Europe. It is a mixed picture. You can see the Dow Jones down over 2%.

:21:29. > :21:32.The S and P, a similar picture. The Nasdaq falling. It initially opened

:21:33. > :21:39.in positive territory, but down, as you can see there. Nearly 3%. We are

:21:40. > :21:41.getting indication too about what businesses and banks, what

:21:42. > :21:45.organisations here in the City of London are thinking about what could

:21:46. > :21:49.happen next. And what their future plans maybe and it is interesting we

:21:50. > :21:54.talked earlier about Morgan Stanley and about their plans to relocate

:21:55. > :21:58.staff in the event of a Brexit vote. Of course, the big organisations

:21:59. > :22:01.have contingency plans in place. They've denied the process Sunday

:22:02. > :22:05.way, but at the same time, they've said they're not going to wait for

:22:06. > :22:08.the Article 50. The proceedings to begin of that divorce of the UK from

:22:09. > :22:13.the European Union Council. They won't wait for that to begin before

:22:14. > :22:17.they start making decisions about where they have their staff around

:22:18. > :22:22.Europe. All this related to their investment banking division. Let's

:22:23. > :22:26.talk with Keith Wade chief economist here at Schroders. We are looking at

:22:27. > :22:29.the volatility on the markets. Just tell us what it means for the UK's

:22:30. > :22:33.place in the world when we've decided to leave, clearly, a lot

:22:34. > :22:37.still to be ironed out, but there is implications, aren't there, for the

:22:38. > :22:40.wider economy? Oh, absolutely. This is where the negotiations in the

:22:41. > :22:46.next trade agreement becomes so critical. So for example if you take

:22:47. > :22:49.an industry like fund management, we have an arrangement where we can

:22:50. > :22:53.passport our products into Europe and take advantage of the single

:22:54. > :22:57.market. In two years time, the arrangement will come to an end and

:22:58. > :23:02.we will need to replace it with something else or companies like

:23:03. > :23:06.Schroders will have to think about relocating elsewhere in Europe and

:23:07. > :23:10.that has an impact on jobs here and that has a negative effect on the

:23:11. > :23:15.economy. And there are a lot of businesses in that situation. There

:23:16. > :23:19.is a tendency to think these are bankers sat in offices talking about

:23:20. > :23:22.numbers and trying to make predictions about what happens. When

:23:23. > :23:25.you paint it in those terms, it will affect the money in our pocket?

:23:26. > :23:29.Remember, the investments that we're looking at here, these are all part

:23:30. > :23:34.of people's pensions and savings. So, if we see a big fall in the he

:23:35. > :23:38.canitiy markets, that's reducing the amount of assets people have for

:23:39. > :23:42.paying future pensions. They have got to pay more or accept a lower

:23:43. > :23:47.pension. That volatility will matter. Maybe it is a few years down

:23:48. > :23:50.the road. Maybe the markets will have recovered by then, but that's

:23:51. > :23:53.why the trade deal will be so important. Keith, thank you very

:23:54. > :23:59.much. The Dow in New York down just over 2%. The FTSE 100 here in London

:24:00. > :24:03.down 266%. Winning back some of the losses we saw earlier. Significant

:24:04. > :24:07.falls when the markets opened, but the feeling here is they are trying

:24:08. > :24:10.to wait and see. See what happens and see what deals can be done and

:24:11. > :24:13.see how it plays out and the implications will be felt here for a

:24:14. > :24:22.long time. We will keep an eye on that. More from us later.

:24:23. > :24:24.With me is Young our chief political correspondent. There is turmoil in

:24:25. > :24:29.the Conservative Party, of course, there is the Prime Minister

:24:30. > :24:33.announced his resignation. Nobody is questioning that and that's key to

:24:34. > :24:36.the day's events, but there is a lot of tension in Labour too and I'm

:24:37. > :24:40.just thinking after Alastair Campbell and Caroline Flint came on

:24:41. > :24:43.to say they were expressing grave doubts about the prospects under

:24:44. > :24:47.Jeremy Corbyn, how significant is that, do you think? I think it is

:24:48. > :24:50.incredibly significant and the reason is the departure of David

:24:51. > :24:54.Cameron and the election of a new Tory leader means that the

:24:55. > :24:57.possibility of a general election has to be there within possibly the

:24:58. > :25:00.next year. So Labour MPs, particularly in the north of

:25:01. > :25:04.England, in Wales, they are looking at sair their seats at the general

:25:05. > :25:07.election last year, they had Ukip breathing down their neck in many of

:25:08. > :25:11.these areas, this is not new for the Labour MPs. They know that there is

:25:12. > :25:15.an issue with immigration amongst their supporters and they know Ukip

:25:16. > :25:19.has done very well in their areas, it is focussing their minds. There

:25:20. > :25:24.was a Shadow Cabinet meeting. It went on for hours, it was focussed

:25:25. > :25:28.what are the pressure for the Labour Party going forward? They fear what

:25:29. > :25:31.happened to them in Scotland a collapse of their support could be

:25:32. > :25:34.happening in the north of England and possibly in parts of Wales as

:25:35. > :25:39.well. So we now have next week the motion of no confidence which may

:25:40. > :25:43.well be voted on, that would mean a secret ballot on Tuesday and there

:25:44. > :25:46.are people willing to come forward and challenge Mr Corbyn. He has been

:25:47. > :25:50.under immense pressure because of the referendum. They felt this was

:25:51. > :25:54.his chance to show his leadership qualities and they feel he failed.

:25:55. > :25:58.Finally, just at this stage, your thoughts on the way that the

:25:59. > :26:02.Conservative leadership campaign will start to shape up. Let's face

:26:03. > :26:05.it from today on wards? David Cameron made it clear that he wants

:26:06. > :26:08.to be gone really by the conference, the party conference at the end of

:26:09. > :26:11.September. So things will have to get going and I can tell you that

:26:12. > :26:14.Tory MPs are already discussing it. They are discussing who they will

:26:15. > :26:18.put forward on the ballot. It is incredible to think after this huge

:26:19. > :26:22.democratic exercise where the British people have voted in their

:26:23. > :26:25.millions to leave the European Union, a huge decision which will

:26:26. > :26:30.have far, far-reaching implications now, our next Prime Minister will be

:26:31. > :26:34.chosen by Tory MPs and Tory Party members. They are talking about

:26:35. > :26:37.that. Two will go forward on a ballot. So a lot of negotiating

:26:38. > :26:41.going on. A lot of people sounding things out about who might be on the

:26:42. > :26:45.ballot, Boris Johnson, of course, today a very interesting speech by

:26:46. > :26:49.him, trying to calm people down, but also trying to appeal to those who

:26:50. > :26:53.voted Remain, trying to appeal to young people too. He really wants to

:26:54. > :26:56.have a broad church there as he obviously wants to go forward. For

:26:57. > :27:14.now, Vic kirks i, thank you. Coverage of the referendum result

:27:15. > :27:18.continues on the BBC News Channel. We're staying in Downing Street. We

:27:19. > :27:22.are heading around the globe for the reaction and analysis. At 7pm

:27:23. > :27:29.tonight, there is a special programme on BBC One, The Big

:27:30. > :27:33.Decision with Nick Robinson taking stock of today's momentous events.

:27:34. > :27:37.For now, we will leave you with a reminder of what happened. Trying to

:27:38. > :27:45.take stock and really trying to take it all in, what has happened over

:27:46. > :27:49.the past 12 hours. At 4.40am, we can say the decision taken in 1975 by

:27:50. > :28:00.this country to join the Common Market has been reversed by this

:28:01. > :28:04.referendum to leave the EU. It is a victory for ordinary people. Decent

:28:05. > :28:08.people. It is a victory against the big merchant banks, against the big

:28:09. > :28:13.businesses and against big politics and I'm proud of everybody that had

:28:14. > :28:17.the courage in the face of all the threats, everything they were told,

:28:18. > :28:22.they had the guts to stand up and do the right thing. Inevitably, there

:28:23. > :28:28.will be a period of uncertainty and adjustment following this result. We

:28:29. > :28:32.will not hesitate to take any additional measures required to meet

:28:33. > :28:37.our responsibilities as the United Kingdom moves forward. I will do

:28:38. > :28:41.everything I can as Prime Minister to steady the ship over the coming

:28:42. > :28:46.weeks and months. But I do not think it would be right for me to try to

:28:47. > :28:51.be the captain that steers our country to its next destination. I

:28:52. > :28:56.am proud of Scotland and how we voted yesterday. We proved that we

:28:57. > :29:00.are a modern, outward looking, open and inclusive country and we said

:29:01. > :29:08.clearly, that we do not want to leave the European Union. I believe

:29:09. > :29:13.the British people have spoken up for democracy in Britain and across

:29:14. > :29:20.Europe. I think we can be very proud of the result.