Part Three

:00:00. > :00:00.clear result on the part of the British people, and that must always

:00:00. > :00:10.have been foreseen by the Government were named Mark drafted that

:00:11. > :00:15.manifesto, so I don't think that another referendum is necessary at

:00:16. > :00:19.all -- another Prime Minister. 37,000 on the bottom right of the

:00:20. > :00:23.screen there, that is what is needed for victory for the Leave campaign.

:00:24. > :00:30.And I think we have just reached that point. There we are, that is

:00:31. > :00:35.now statistically, mathematically there that the leave campaign have

:00:36. > :00:40.won, and we are expecting at the end of the count 52% of the Leave, 48%

:00:41. > :00:46.for Remain. Quite an extraordinary moment. Not in terms of the way

:00:47. > :00:50.people voted, because all the way through people have said it was a

:00:51. > :00:55.close run thing, but in terms of a turnaround from British foreign

:00:56. > :00:58.policy, British policy towards the EU, British internal policy, British

:00:59. > :01:02.policy on immigration, everything now is up for change, because of

:01:03. > :01:06.this decision, and however you look at it, it is an earthquake that has

:01:07. > :01:11.happened, and what happens after earthquakes? We wait to see. From

:01:12. > :01:17.your point of view, you are quite confident? Fantastic news!

:01:18. > :01:26.Absolutely brilliant for the United Kingdom. It is superb. Amelie? In

:01:27. > :01:29.Northern Ireland they voted 56% to remain, and now they are going to

:01:30. > :01:33.have a border between Northern Ireland and the South. The security

:01:34. > :01:37.indications are that have yet to be worked through. The indications for

:01:38. > :01:41.that for the peace process have yet to be worked through. And what is

:01:42. > :01:45.odd as well in Northern Ireland is of course the politicians were all

:01:46. > :01:49.arguing that they should go, the people of Northern Ireland of

:01:50. > :01:54.whatever background they came from have voted to remain, I think it is

:01:55. > :01:56.game to be a very difficult situation there, and that is going

:01:57. > :02:00.to be our border with the European Union, that is where if anybody

:02:01. > :02:04.wants to coming to Britain, and one of the things you are talking about

:02:05. > :02:07.was taking control of our borders, how can we take control of that

:02:08. > :02:09.border? That is another question that we will need to be asking

:02:10. > :02:25.today. Let's see the figures on the sunlit

:02:26. > :02:46.House of Commons. The Leave campaign on...

:02:47. > :02:53.We're joined by Liam Fox, one of those who was campaigning all along

:02:54. > :02:59.for a Tainio vote. Former Defence Secretary. Dr Fox, what would you

:03:00. > :03:04.like to see happening now? First, to have a period of Sam Cam so that

:03:05. > :03:09.people can understand that it is not, as the papers say this morning,

:03:10. > :03:12.that we are out. It's going to be some time before we leave the

:03:13. > :03:17.European Union, and we will a period where we can disentangle ourselves.

:03:18. > :03:20.We want to leave on good terms, we want to cooperate where it is in our

:03:21. > :03:26.mutual interest to do so. And we need to have a period of stability.

:03:27. > :03:31.To that end, I would like to see the Prime Minister today announced that

:03:32. > :03:34.he will be staying on, so that we do not add political instability into

:03:35. > :03:36.the mix. So what you're saying, we've not left, it's just that we

:03:37. > :03:44.have announced that we want to leave? That's technically correct.

:03:45. > :03:48.But the Prime Minister has said that he would implement article 50, the

:03:49. > :03:51.withdrawal procedure, immediately, if there was a vote to leave. You

:03:52. > :03:56.think perhaps he should not do that? A lot of things were said in advance

:03:57. > :04:00.of this referendum that we might want to think about again, and that

:04:01. > :04:03.is one of them. I think that it does not make any sense to trigger

:04:04. > :04:08.Article 50 without having a period of reflection first for the Cabinet

:04:09. > :04:14.to determine exactly what it is that we're going to be seeking, and in

:04:15. > :04:18.what timescale. And then you have to also consider what is happening with

:04:19. > :04:21.the French elections, and the German elections next year and the

:04:22. > :04:31.implications at that might have for them. So, a period of reflection to

:04:32. > :04:36.let it sink in and work out the technicalities. But Nigel Farage and

:04:37. > :04:40.his supporters and many of those who voted to leave will surely be

:04:41. > :04:44.expecting something more than a period of calm reflection while you

:04:45. > :04:47.decide whether to invoke the procedure to leave. I mean, they are

:04:48. > :04:54.expecting action, this day?! Well, we will not getting action this day,

:04:55. > :04:59.I would not think, on pretty much any front. Because I think we have

:05:00. > :05:05.all understood that Article 50 purposely gives us a window of two

:05:06. > :05:08.years to try to sort out these problems. We will have a number of

:05:09. > :05:12.legislative questions to ask ourselves. What is clear is that we

:05:13. > :05:16.have now decided to change the course of our history. And I hope to

:05:17. > :05:21.also change the course of European history. The British people have

:05:22. > :05:26.taken a courageous view, which to say that managed decline in a

:05:27. > :05:34.failing entity of the EU is not to be our destiny. I am just

:05:35. > :05:40.overwhelmed by the moment here. It is of enormous historical impact.

:05:41. > :05:44.How long can you go on paying ?350 million a week, which was on the

:05:45. > :05:49.side of your battle bus, to the EU, once the British people have decided

:05:50. > :05:53.they don't wish to pay ?350 million a week? We will still be required to

:05:54. > :05:59.fulfil these obligations that we have under our current negotiations

:06:00. > :06:03.until such a time as we leave. Shouldn't you crack on and speed it

:06:04. > :06:07.up and get it done and dusted as soon as possible? Of course, if we

:06:08. > :06:12.can get it done under the article 50 agreement more quickly, then that

:06:13. > :06:15.would be great, if we could come to mutual agreements on things like

:06:16. > :06:19.trade and security arrangements, that would be wonderful. And I think

:06:20. > :06:25.there is a very strong incentive to do so. It is in the interests of

:06:26. > :06:28.both the other countries in the European Union and now Britain, as

:06:29. > :06:33.we will be, outside the European Union, to maximise our co-operation.

:06:34. > :06:37.I have always wanted that co-operation, I just did not want to

:06:38. > :06:41.be governed by them. I do not quite understand how you see the Prime

:06:42. > :06:46.Minister, who fought so hard on the other side, suddenly changing and

:06:47. > :06:51.saying, oh, I see, that is what you want - right, this is how I will

:06:52. > :06:55.negotiate that. He went to Brussels, he had a negotiation which you said

:06:56. > :06:59.was a failure, and which you will say was part of the reason why he

:07:00. > :07:04.did not win the referendum - how can he then act as though this was what

:07:05. > :07:08.he wanted all along - I will now take charge and this is how we will

:07:09. > :07:13.do it? I would perfectly understand if the Prime Minister felt very

:07:14. > :07:16.bruised after this result. He urged for one course of action and the

:07:17. > :07:21.public chose another. But that's democracy, and especially true in a

:07:22. > :07:28.referendum, which is very binary. I think there is a very strong

:07:29. > :07:32.instinct in David Cameron which understands the duty of public life.

:07:33. > :07:36.While it might be uncomfortable for him, I think it is for the stability

:07:37. > :07:40.of the government and the good governance of the UK that we get

:07:41. > :07:45.political continuity at least until we are well into that negotiation.

:07:46. > :07:48.I'm sure that will not be an easy decision for him, but I would urge

:07:49. > :07:55.him to do what his instincts tell him, and to maintain that stability

:07:56. > :08:03.so that we can get into this process with the least turbulence possible.

:08:04. > :08:07.Dr Fox, thank you very much. Jeremy, shall we have a look at the story

:08:08. > :08:11.which has now unfolded, for people who have just joined us, to see what

:08:12. > :08:17.it is that happened this evening and last night as the results were

:08:18. > :08:21.counted? It started eight hours ago. It seems like a lifetime ago.

:08:22. > :08:25.Doubtless the mind behind that door of No 10 has some serious questions

:08:26. > :08:34.to answer about what he does next, as Dr Fox was saying. Let's go back

:08:35. > :08:39.to the start of the night, and very, very early result which rang lots of

:08:40. > :08:45.warning bells for the Remain campaign, and that was Newcastle. It

:08:46. > :08:50.did vote to remain, but only just. It was supposed to go quite

:08:51. > :08:56.substantially for Sokolik. So immediately we were seeing the

:08:57. > :08:59.Tainio vote much stronger than we thought, and that was around

:09:00. > :09:05.midnight. That was followed by Swansea, which was interesting,

:09:06. > :09:08.because we had that down as likely to remain, but Swansea voted to

:09:09. > :09:13.leave. So the results really started to worry the Remain side from the

:09:14. > :09:19.early stage. It look for a while that London might come to the rescue

:09:20. > :09:23.of Remain. Lambeth reporting an extraordinary majority, something

:09:24. > :09:26.like driven percent, to remain. Other parts of London going strongly

:09:27. > :09:34.enough for the yellow side, but not strong enough to overtake the

:09:35. > :09:37.Leaves. Sheffield, Durham, Birmingham, we had next. 3.25 in the

:09:38. > :09:43.morning, Sheffield comes in. Here we are. And this was a sign of things

:09:44. > :09:48.to come - that cities outside London which we thought might have edged to

:09:49. > :09:57.remain, actually went Leave. Durham was a classic 50-50. We thought it

:09:58. > :10:02.might be close but in fact, it went Leave, which was a sign that the

:10:03. > :10:07.country was going Leave. And then Birmingham, in the end, they

:10:08. > :10:11.cancelled each other out and we got a blue Leave from there as well.

:10:12. > :10:18.Finally, Northumberland took us over the line. Leave coming first. No way

:10:19. > :10:22.back for Remain. In the end, their powerful areas, London and in

:10:23. > :10:28.particular, did not bring forward enough votes to conquer Leave, who

:10:29. > :10:31.had extraordinary turnout and resilience in places all around the

:10:32. > :10:36.country, particularly England - and Wales as well. It leaves some real

:10:37. > :10:40.questions for the man who called the referendum and took that huge

:10:41. > :10:46.gamble. Thank you very much. If you have just joined us, the referendum

:10:47. > :10:53.result is that 52% of the country voted to leave, 48% voted to stay.

:10:54. > :10:57.So the decision was absolutely clearly that the people of this

:10:58. > :11:02.country, by a majority of 4%, in effect, want to leave the EU. That

:11:03. > :11:07.has all sorts of ramifications, which we will go into later on. At

:11:08. > :11:14.this point let's have a catch up on the news and weather. Thank you.

:11:15. > :11:20.Good morning. Britain has voted to leave the European Union. The Leave

:11:21. > :11:23.campaign has so far taken 52% of the vote. It is now impossible for

:11:24. > :11:32.Remain to overtake it. There have been strong wins for Leave in the

:11:33. > :11:36.north of England and in the Midlands. This report by Eleanor

:11:37. > :11:43.Garnier kins with the moment the BBC announced its prediction.

:11:44. > :11:47.Well, at 20 minutes to five, we can now say the decision taken in 1975

:11:48. > :11:54.by this country to join the Common market has been reversed by this

:11:55. > :11:57.referendum, to Leave the EU. We are absolutely clear now that there is

:11:58. > :12:05.no way that the soccer league side can win...

:12:06. > :12:12.Watch and listen carefully - this is history in the making. The answer

:12:13. > :12:17.is, we are out. And these were the celebrations just moments before the

:12:18. > :12:23.BBC called the result. This will be a victory for real people, a victory

:12:24. > :12:29.for ordinary people, a victory for decent people! With the pound

:12:30. > :12:35.plunging, Remain campaigners warned of turmoil ahead. This is a

:12:36. > :12:40.crushing, crushing decision. It is a terrible day for Britain and a

:12:41. > :12:47.terrible day for Europe, with immense consequences. This moment,

:12:48. > :12:50.this is a seismic moment for our country, which goes far beyond all

:12:51. > :12:54.of the personalities. We are talking about what happens to David Cameron

:12:55. > :12:58.- this is a big thing for our country. What this has exposed is a

:12:59. > :13:07.lot of division. This is not an overwhelming win. There's 40 -- 48%

:13:08. > :13:13.of people on the current prediction who did not vote for this. Across

:13:14. > :13:19.the north-east, results soon showed Leave doing consistently better than

:13:20. > :13:27.predicted. A big win in Hartlepool, and whooshing Remain into a narrow

:13:28. > :13:32.victory in Newcastle. A much smaller win than expected. Away from the

:13:33. > :13:39.north of England, in Basildon in Essex, another big win for Leave.

:13:40. > :13:45.And another account with a big turnout, at 74%. And in Flintshire,

:13:46. > :13:52.just as across the rest of Wales, voters backed Brexit. But Scotland

:13:53. > :13:56.voted emphatically to stay in the EU, though the overall result will

:13:57. > :14:02.lead to renewed calls for a second referendum on Scottish independence.

:14:03. > :14:07.And London, as predicted, was a stronghold for Remain. But Britain

:14:08. > :14:11.has voted to leave the European Union, to tear up the settlement the

:14:12. > :14:21.country has had for decades, unleashing perhaps huge opportunity,

:14:22. > :14:26.or perhaps huge risk. Perhaps both. The results have upset the world's

:14:27. > :14:33.financial markets, with the pound falling to its lowest point since

:14:34. > :14:38.1985. When the polls closed, it soared to $1.5, but as it showed

:14:39. > :14:44.stronger than expect you to support for leaving the EU, it began to

:14:45. > :14:48.plummet. Markets in Asia are down nearly 3%. Scotland's First

:14:49. > :14:53.Minister, Nicola Sturgeon, has suggested the vote will reignite

:14:54. > :14:58.demands for an independence referendum there. All 32 authorities

:14:59. > :15:02.returned decisions to Remain. She said it showed that it was clear

:15:03. > :15:07.that the people of Scotland saw their future as part of the European

:15:08. > :15:11.Union. Sinn Fein says a British vote to leave the EU intensifies the case

:15:12. > :15:14.for a vote on whether Northern Ireland should leave the United

:15:15. > :15:17.Kingdom. The comments from the largest Irish nationalist party

:15:18. > :15:22.followed a result which saw 11 of the 18 constituencies voting to stay

:15:23. > :15:26.in the European Union. That is the latest for you. More coming up in a

:15:27. > :15:33.few moments. Let's have a look at the weather.

:15:34. > :15:40.A beautiful picture sent in this morning. Some of us had torrential

:15:41. > :15:47.rain across the south-east yesterday. Today, a lot of sunshine,

:15:48. > :15:50.but showers already in the north and west will develop further and

:15:51. > :15:56.intensify as we go through the course of the day. By the afternoon,

:15:57. > :16:01.some of the showers across Scotland will be heavy and thundery, but in

:16:02. > :16:04.between, sunshine. It is the same across Northern Ireland and

:16:05. > :16:10.north-west England, showers with hail and thunder. In Wales, we could

:16:11. > :16:18.see the same as in the south-west. In between these showers, sunshine.

:16:19. > :16:23.Dry conditions as we push into the south-east. Many of the showers will

:16:24. > :16:27.fade, we will hang on to some in the North and West, and we will have

:16:28. > :16:34.some clear skies, but it will not be cold. As we head into tomorrow, they

:16:35. > :16:37.will cease showers, a different this division. In the West, something a

:16:38. > :16:51.bit brighter. Thank you. The art into a new world,

:16:52. > :17:01.if you have just joined us, a new day has dawned in Britain. We will

:17:02. > :17:08.be talking to Diane and Daniel in a moment, but first, in case you have

:17:09. > :17:16.missed the story, the referendum led to those who wish to leave winning

:17:17. > :17:21.by 4%. There have been various from applications, not least in the value

:17:22. > :17:29.of the pound and in the markets, not just the currency markets but the

:17:30. > :17:33.markets generally. What news do you have, what plans do they have at the

:17:34. > :17:43.Bank of England? Have they been up all night? Good morning. They are up

:17:44. > :17:46.and ready, I have seen a few people heading into the Bank of England

:17:47. > :17:51.behind me. In the run-up to this referendum the governor Mark Carney

:17:52. > :17:57.said that the biggest immediate risk to global markets was the UK leaving

:17:58. > :18:01.the EU. And they would do whatever action is necessary to reassure

:18:02. > :18:06.people and keep things like inflation under control. We know

:18:07. > :18:10.that Mark Carney is now preparing to speak, he says he will not speak

:18:11. > :18:14.until after David Cameron has spoken, but it will not be long

:18:15. > :18:19.before he will be telling us what the plans are for the Bank of

:18:20. > :18:22.England. There are two big issues, one is around the volatility in the

:18:23. > :18:30.markets, which we have seen overnight, the pound dropping so

:18:31. > :18:34.much could mean that inflation starts to head up as import prices

:18:35. > :18:43.become more expensive, it could put up the price of goods here. The Bank

:18:44. > :18:47.of England has a target of 2% on inflation, if it goes over, it could

:18:48. > :18:53.increase interest rates. There are other concerns, we are in a lot of

:18:54. > :18:58.debt, so interest rates could hit hard on the economy. We are also

:18:59. > :19:02.hearing Nigel Farage say that this is good news for exporters. For a

:19:03. > :19:07.long time they have had it tough while the pound has been so high, so

:19:08. > :19:13.it will be good news for them. The banking stability is another issue.

:19:14. > :19:18.Remember 2008, the Bank of England had to intervene with quantitative

:19:19. > :19:23.easing, pumping more money into the system to make sure banks could

:19:24. > :19:29.borrow and lend and keep the economy going. We are waiting to hear, but

:19:30. > :19:33.it will not be long before we hear from Mark Carney, we will head into

:19:34. > :19:40.his office to hear what he has to say. How do they detect whether this

:19:41. > :19:45.is just a panic reaction? We know markets are volatile, they get a bit

:19:46. > :19:50.of bad news, they tumble, then good news, and goes up again, it is

:19:51. > :19:58.people trading fast to make a profit. Are these substantial falls

:19:59. > :20:04.that will be sustained? As you saw last night, when we thought we would

:20:05. > :20:13.be staying in the EU, the pound headed up, it hit 1.5 against the

:20:14. > :20:17.dollar. It has pound since then. On a day-to-day basis we see the

:20:18. > :20:22.markets go up and down quite a lot, it is hard to get a picture in terms

:20:23. > :20:25.of when this might become stable. It is unlikely the Bank of England will

:20:26. > :20:29.take action straightaway on trying to stabilise the currency markets,

:20:30. > :20:34.they will wait to see if it settles over the next few days, but it is

:20:35. > :20:39.more issues around reassurance, that they have a plan and they want to

:20:40. > :20:45.reassure people that the financial sector will not go to ruin because

:20:46. > :20:51.of what is happening now. We will keep up with you. If you get to the

:20:52. > :20:57.governor's office, will you have cameras in their? He will make a

:20:58. > :21:02.public statement? Excellent, we will keep it going. This is a comment

:21:03. > :21:04.from the German Foreign Minister, the news from the UK is sobering, it

:21:05. > :21:17.looks like a sad day for Europe. Let's get reaction in the early

:21:18. > :21:25.morning sunlight to what has happened overnight here. It is a

:21:26. > :21:31.very sunny day here, but the outlook is far from it. This is a country

:21:32. > :21:34.waking up in shock. The main priority is what happens to be

:21:35. > :21:39.nearly 1 million Polish nationals living in the UK. They make up the

:21:40. > :21:46.largest non-British national group in the UK. What happens to their

:21:47. > :21:49.status? What happens to their jobs, their freedom of movement, the

:21:50. > :21:57.ability of their children to go to school? There are so many questions

:21:58. > :22:00.at the moment, it has been very strange, watching the events unfold,

:22:01. > :22:07.because there is a palpable state of unease. Yesterday the news bulletins

:22:08. > :22:10.and newspapers covered this story, what was happening in the UK, and

:22:11. > :22:17.the main point was, keep your fingers crossed. Government

:22:18. > :22:22.ministers, opposition politicians, saying, keep your fingers crossed

:22:23. > :22:25.for the UK, they wanted the UK to remain, because they have so many of

:22:26. > :22:31.their nationals in the UK. What happens to them is of their ultimate

:22:32. > :22:38.concern. A sense of shock. We are waiting for official reaction.

:22:39. > :22:46.During this campaign and the freshers argument that has gone on,

:22:47. > :22:49.I cannot think that any Brexiter said that the Polish people

:22:50. > :22:57.currently in the UK would be expelled. It is controlling new

:22:58. > :23:01.immigration. On that basis, there should be no fears for the million

:23:02. > :23:10.or so Polish people who are living and working here now. The point is

:23:11. > :23:18.they feel unwelcome. It was such a ferocious debate, they feel now

:23:19. > :23:23.unwelcome, apprehensive. There are many polls who will stay in the UK,

:23:24. > :23:27.and it will take time for any negotiations are made as to what

:23:28. > :23:32.happens to their status, but the feeling is, why did this happen?

:23:33. > :23:39.Were they because of this? What is also a question that I was hearing

:23:40. > :23:44.here is, this was a decision that was going to affect so many Polish

:23:45. > :23:48.people, in the UK, in this country, Poland is one of the biggest

:23:49. > :23:53.beneficiaries of the EU budget, but this decision was taken completely

:23:54. > :24:02.out of their hands. There was a sense of uselessness. A sense of the

:24:03. > :24:09.inability of making a decision, because it was out of their hands,

:24:10. > :24:15.and it affects so many people. I am joined at this table by Diane

:24:16. > :24:21.Abbott, the Labour MP for Hackney and, shadow international develop

:24:22. > :24:25.meant secretary, and Daniel Hannon, Conservative MEP for south-east

:24:26. > :24:34.England, since 1999. Not for much longer. You don't know that. That is

:24:35. > :24:41.true. About this campaign and what we have been hearing about the

:24:42. > :24:48.outcome, how much do you think it was a narrow issue of the EU which

:24:49. > :24:52.radio's which you were campaigning on and how much was it about wages

:24:53. > :24:58.being flat, too much immigration, other issues, that you got on your

:24:59. > :25:04.side and direct towards leaving the EU, without it being that specific

:25:05. > :25:09.issue? What was specific was what was on the ballot paper. That is the

:25:10. > :25:15.one clear mandate that we have. Although we now have a clear verdict

:25:16. > :25:22.from the British people, which I am delighted about, I feel proud to be

:25:23. > :25:26.British today, we stood up to the threats, we should also take account

:25:27. > :25:31.of the fact that 48% of our fellow countrymen voted to remain. In

:25:32. > :25:34.implementing the verdict, we need wherever possible to try to build a

:25:35. > :25:39.consensus to try to carry people with us. We need to recognise that

:25:40. > :25:45.two of the four constituent nations of the UK voted to remain, and need

:25:46. > :25:50.to give due weight to their voices. We do not want to act considered a

:25:51. > :25:55.sleek, we want to act with consent and agreement of our European

:25:56. > :25:59.allies. Reclaiming our laws does not mean walking away from our friends

:26:00. > :26:05.in Europe, we will be constructively engaged, but on the basis of

:26:06. > :26:09.repatriating. You did not think the markets would be spooked, but it

:26:10. > :26:12.looks as if they are. They were spooked by some of the aggressive

:26:13. > :26:17.talk we had during the campaign about bombs under the economy. Once

:26:18. > :26:23.people realised that what we are talking about is a phased

:26:24. > :26:26.repatriation, a cumulative recovery of power, within the context of

:26:27. > :26:32.continuing free trade with Europe, nobody is talking about barriers and

:26:33. > :26:38.tariffs, you will not find anybody doing so on the other side either,

:26:39. > :26:43.85% of our economic relations with the EU will remain in place, and

:26:44. > :26:45.when Brexit takes effect, that will be the beginning of when we start

:26:46. > :26:52.applying some of the more burdensome regulations. When the markets

:26:53. > :26:56.understand that, this present over reaction will quickly be reversed.

:26:57. > :27:03.Many people voting to leave will have been persuaded by you'll

:27:04. > :27:09.advertisement on the side of your bus, that we send ?350 million a

:27:10. > :27:12.week to the EU, and that could be spent on the NHS and other things.

:27:13. > :27:19.How long will it take before the money is repatriated? It won't be

:27:20. > :27:25.next week or next year. Getting out of the EU is some think we need to

:27:26. > :27:29.get right, we have been in for 43 years, I am happy to wait if that

:27:30. > :27:33.means getting the terms of exit favourable to us and fair to our

:27:34. > :27:38.allies on the continent. We should not rush into it for the sake of it,

:27:39. > :27:42.we need a settlement that is durable, fair to our allies, shows

:27:43. > :27:48.that we are still engaged, we are military allies, but allows us to

:27:49. > :27:51.begin to take back power. The vast majority of people who just voted to

:27:52. > :27:57.leave and who I have spent the last four months with, they understand

:27:58. > :28:02.that. What they wanted was to bring back control. People are grown-up,

:28:03. > :28:05.they understand this is not something that can be done tomorrow.

:28:06. > :28:11.How long before a British Government can say they do have the method or

:28:12. > :28:18.the weaponry for controlling immigration and will reduce it, like

:28:19. > :28:25.they did Cameron promised to the tens of thousands? Were that happen

:28:26. > :28:27.or is that postponed? Nobody has suggested there will be no

:28:28. > :28:32.immigration, and thank you for making the point about the status of

:28:33. > :28:37.EU nationals, there will be EU nationals watching now, I want to

:28:38. > :28:41.underline, nobody has suggested any change in their status, the only

:28:42. > :28:46.change is they no longer vote at European or local elections. Tonnes

:28:47. > :28:51.of migration from the EU, the one thing we can change is we will no

:28:52. > :28:56.longer be citizens of the EU. Citizenship of the EU gives you a

:28:57. > :29:00.legal entitlement to reside and vote in another country and the right to

:29:01. > :29:03.be treated the same way as a national of that country for the

:29:04. > :29:10.purposes of things like university tuition fees welfare claims, and so

:29:11. > :29:13.on that will change, but if people watching think that they have voted

:29:14. > :29:18.and there will be zero immigration from the EU, they will be

:29:19. > :29:22.disappointed, of course there will still be immigration, people coming

:29:23. > :29:26.here to work, and you will look in vain for anything that the Leave

:29:27. > :29:32.campaign said that the suggested there would be any kind of border

:29:33. > :29:41.closure. All we are asking for is some control over roughly who comes

:29:42. > :29:45.in and roughly in what numbers. As a staunch Remainer, what do you make

:29:46. > :29:52.of what he says? It seems to be a gentle move to a different thing,

:29:53. > :29:56.the British Government able to decide for itself. That is the

:29:57. > :30:04.reasonable version. The most important thing to say is, this vote

:30:05. > :30:09.tonight is a war of defiance against the Westminster elite, we have to

:30:10. > :30:15.listen very carefully to what they were trying to say to us. I think in

:30:16. > :30:22.many places immigration is a proxy for the discontent. Labour market in

:30:23. > :30:26.security, their children's future, what is happening to the health

:30:27. > :30:29.service. I don't deny this is the most momentous vote of my political

:30:30. > :30:30.lifetime. We have to listen carefully to what the electorate is

:30:31. > :30:44.saying. It is a bit late now, because you

:30:45. > :30:51.are out of the EU, which you wanted to stay in? I think actually Jeremy

:30:52. > :30:56.Corbyn was closer to the national mood than any other major leader,

:30:57. > :30:59.and I think that puts him in a strong position to be a voice for

:31:00. > :31:03.working people. I never understood what he meant when he said he was

:31:04. > :31:09.7.5 out of ten in favour of staying in. Which way do you think you

:31:10. > :31:16.voted?! Go on, you could see it in his face as he came out! What he

:31:17. > :31:24.meant by 70% was that he wanted to Remain and reform. Do you think he

:31:25. > :31:32.will be pleased? I am delighted, I have been working for today for 26

:31:33. > :31:35.years! Oozed going to be and extremely challenging situation. And

:31:36. > :31:40.one of the biggest challenges is to bring people together. I do not

:31:41. > :31:43.believe Jeremy is pleased. But as the leader of the Labour Party, and

:31:44. > :31:46.those of us in the shadow cabinet, we have to rise to the challenge of

:31:47. > :31:52.both listening to the electorate and bringing people together. The way

:31:53. > :31:56.they said no to all of the banks and... Isn't there a piece of you

:31:57. > :32:02.which feels very proud to be British today? And the hectoring and the

:32:03. > :32:07.scare stories which we had from all of these big financial... People

:32:08. > :32:10.stood up to it and their common sense went against it. The Institute

:32:11. > :32:15.for Fiscal Studies says there is going to be a gap of ?30 billion,

:32:16. > :32:18.the Chancellor has said there is going to have to be an emergency

:32:19. > :32:24.budget if we leave. Do you think all of that is going to happen? Some of

:32:25. > :32:30.these were speculative figures. What is a speculative figure?! Based on

:32:31. > :32:34.certain models of what is going to happen. Did you believe them

:32:35. > :32:39.yourself? I believe it's going to be a very challenging situation. Do you

:32:40. > :32:43.believe it was fear tactics, which played so well for the levers, being

:32:44. > :32:50.used by the Chancellor of the Exchequer and the Prime Minister? I

:32:51. > :32:53.believe the leader of the Labour Party believes that, that this

:32:54. > :32:57.Project Fear staff did not help us in the end. You have heard the

:32:58. > :33:01.various potions around this table, and it seems that almost anything

:33:02. > :33:05.can happen. Table can decide to invoke article 50 and leave

:33:06. > :33:09.immediately. Or you can start discussions and take it gently, as

:33:10. > :33:14.Daniel says. It is all true, isn't it? There is no absolute way, it is

:33:15. > :33:20.only an advisory referendum, you don't HAVE to do anything? No, I

:33:21. > :33:25.don't think that is white. I think Diane Abbott is right to say that it

:33:26. > :33:27.is the most momentous event certainly for many years, and more

:33:28. > :33:32.momentous than the general election. It is momentous because the people,

:33:33. > :33:36.as a result of a grassroots insurgency, have given the

:33:37. > :33:40.government and instruction. And to some extent that is now out of the

:33:41. > :33:43.hands of politicians. Listening to Daniel and Liam Fox, I sometimes

:33:44. > :33:47.think they are so surprised that they have won, they almost wish they

:33:48. > :33:53.haven't, and they are not following up the logic of the Brexit position,

:33:54. > :33:58.which is that Britain is to leave the European Union. The dynamic

:33:59. > :34:02.behind it is that there should be control of EU immigration, that we

:34:03. > :34:04.should leave as soon as possible, and that preferably, this process

:34:05. > :34:09.should be in the hands of people who believe it. Who said as soon as

:34:10. > :34:14.possible? I think this is the public view. You said earlier, when are we

:34:15. > :34:18.to cease a end the ?350 million? When his immigration going to be

:34:19. > :34:24.controlled? This I suspect is the view of the British public. -- to

:34:25. > :34:27.cease paying. Parliament is clearly on representative, because the only

:34:28. > :34:32.party which recommended a Brexit vote has only one MP, and that is

:34:33. > :34:35.Ukip. I did not think there would be a general election cause the

:34:36. > :34:39.political class do not want it. Three quarters of the House of

:34:40. > :34:42.Commons wanted to stay in. But we will come back to that. For the

:34:43. > :34:50.benefit of those who have just joined us, let's have the news,

:34:51. > :34:53.insofar as we can present all aspects of it, and we will come back

:34:54. > :35:01.here after that. Here is Louise Minchin. Good morning. Britain has

:35:02. > :35:05.voted to leave the European Union. The Leave campaign has so far taken

:35:06. > :35:10.52% of the vote. It is now impossible for Remain to overtake

:35:11. > :35:13.it. There have been strong wins for Leave in the north-east of England

:35:14. > :35:18.and in the Midlands. Scotland and Northern Ireland voted to remain in

:35:19. > :35:23.the EU. The Conservative MP Liam Fox, who supported the Leave

:35:24. > :35:28.campaign, said a period of calm was now required. It's going to be some

:35:29. > :35:31.time before we leave the European Union. We will have a period where

:35:32. > :35:37.we can disentangle ourselves. We want to leave on good terms, we want

:35:38. > :35:43.to corporate rarities in our mutual interest to do so. And we need to

:35:44. > :35:46.have a period of stability. And I would like to see the Prime Minister

:35:47. > :35:49.today announced that he will be staying on, so we do not add

:35:50. > :35:55.political instability into the mix. Labour MP Chuka Umunna, who

:35:56. > :36:01.campaigned for Remain, said the result has exposed divisions within

:36:02. > :36:05.Britain. This is a big thing for our country, and what this has exposed

:36:06. > :36:10.is a lot of division. There is a lot of talk as if this is an

:36:11. > :36:13.overwhelming win. It isn't. 48% of people on the current projection did

:36:14. > :36:16.not vote for this. The challenge for people in this context is how to

:36:17. > :36:21.lead and bring our country together. The results have upset the world's

:36:22. > :36:27.financial markets, with the pound falling again this morning to $1.34,

:36:28. > :36:33.its lowest since 1985. When the polls closed, it sort to $1.5, but

:36:34. > :36:38.as they showed stronger than expected support for leaving the EU,

:36:39. > :36:44.it began to plummet. Markets in Asia are down nearly 3%. Nicola Sturgeon

:36:45. > :36:48.has suggested that the Leave vote will reignite demands for an

:36:49. > :36:54.independence referendum there. All 32 Scottish local authorities were

:36:55. > :36:57.turned a majority for Remain. Nicola Sturgeon said the vote made it clear

:36:58. > :36:58.that the people of Scotland saw their future as part of the European

:36:59. > :41:23.Union. Back to David shortly. I'm not sure I quite dared do this,

:41:24. > :41:25.but Gus O'Donnell, former cabinet secretary to Tony Blair, Gordon

:41:26. > :41:30.Brown and David Cameron, is in Westminster. Do you mind very much

:41:31. > :41:35.if we just do something first? Because we want to hear about

:41:36. > :41:39.procedure from new, which is very important. First, Sarah Wollaston

:41:40. > :41:43.has been waiting a long time. She was an important switcher. She is

:41:44. > :41:49.with Emily. A Tory MP and a GP. For people waking up this morning, they

:41:50. > :41:52.are saying, it has happened. There is real shock. I wonder what it

:41:53. > :42:00.feels like for somebody who has gone from Brexit to Remain. Whether a bit

:42:01. > :42:03.of you is left in Brexit or...? No, one thing I realised was that if I

:42:04. > :42:08.woke this morning and Britain had voted to leave, it would not be a

:42:09. > :42:11.sense of freedom, or some kind of Independence Day, but actually that

:42:12. > :42:17.we have lost something and a sadness and concern for the future. But my

:42:18. > :42:21.job now as a politician is not to quibble about the result, but

:42:22. > :42:24.actually to increment it. Because parliament has been given a clear

:42:25. > :42:28.instruction here. This has been a divisive campaign and now it is the

:42:29. > :42:32.time for us to try and bring people together and put it into action in a

:42:33. > :42:38.way which, as far as possible, delivers a positive way forward. Do

:42:39. > :42:42.you believe it will actually happen? Some people are actually saying,

:42:43. > :42:45.there will be two years of negotiation and then we will be

:42:46. > :42:49.granted some kind of associate status which puts us in the common

:42:50. > :42:53.market, in the single market, without really taking us out of the

:42:54. > :42:58.EU at all, what do you think? We are in a period of great uncertainty,

:42:59. > :43:02.and there are 27 other partner nations now who will be having a key

:43:03. > :43:07.say in our status as well. We need to be very careful in the language

:43:08. > :43:09.we use. We need to make it clear that we are not walking away from

:43:10. > :43:13.Europe we are coming out of the European Union, but we do want to

:43:14. > :43:16.maintain close partnership and ties without European neighbours. But

:43:17. > :43:22.what do you think that we are missing? Daniel has just spoken of

:43:23. > :43:28.the sense of liberty and gain a deep you only see it as loss? I'm afraid

:43:29. > :43:31.I see this as being a loss, but clearly the majority of the country

:43:32. > :43:35.see it as a game. We need to be careful about how we are speaking to

:43:36. > :43:39.those around the country who did not vote to leave. I was very glad to

:43:40. > :43:43.hear him referring to the position of those, for example, within the

:43:44. > :43:48.EU, who are currently living in this country. I think of NHS staff and

:43:49. > :43:52.social care staff, there are 130,000 people working in the NHS and social

:43:53. > :43:58.care, who qualified in Europe, and we need to send a clear message to

:43:59. > :44:01.them that we really do value what they do and we would like them to

:44:02. > :44:06.stay. And this is not done a mean that we want them to leave. This

:44:07. > :44:10.needs to be a reassuring message sent out. And also about the

:44:11. > :44:14.language we use. We must not be triumphalist, we must try and bring

:44:15. > :44:19.people together. Do you think that two-year period might lead to many

:44:20. > :44:22.more workers from overseas coming in, thinking, this is our last

:44:23. > :44:26.chance before the drawbridge gets pulled up? We don't know. This is

:44:27. > :44:31.one of the problems with voted to leave, that there will be a period

:44:32. > :44:35.of uncertainty. We also know for example that some of those

:44:36. > :44:39.concessions were negotiated by David Cameron, such as being able to

:44:40. > :44:43.reduce the amount of benefit which is paid to those who come and live

:44:44. > :44:49.here for the first four years, that now won't come into play. So yes, we

:44:50. > :44:53.are in a period of great uncertainty. The right thing to do

:44:54. > :44:57.now is to have some stability, for David Cameron to stay at the helm

:44:58. > :45:02.for the time being, and to have a pause before we rush into doing

:45:03. > :45:06.anything next. Clearly, and instruction has been given to

:45:07. > :45:10.Parliament, that we WILL be leaving the European Union. What about this

:45:11. > :45:16.Brexit budget, do you expect it to happen and would you support it?

:45:17. > :45:22.The Government will have to see what happens with the economy, it would

:45:23. > :45:27.be too soon to implement an emergency budget. You want them both

:45:28. > :45:33.to stay on? What we don't need is immediate resignations. I am sure

:45:34. > :45:36.that at some point there will be a change, probably leading us into the

:45:37. > :45:42.negotiations, but it should not happen immediately, I hope we will

:45:43. > :45:47.not see David Cameron, out and designed this morning, because it

:45:48. > :45:54.will add to the uncertainty. He will be a voice of calm and reason.

:45:55. > :46:02.You see on the bottom right of the screen, the Leave campaign is

:46:03. > :46:12.leading by 1 million 223,000 votes. It is well fed. We have to cancel

:46:13. > :46:18.areas to come. What people have been asking is, what happens? One man has

:46:19. > :46:24.been at the Cabinet, he is the Cabinet secretary from 2005 to 2011.

:46:25. > :46:30.He sits at the heart of Government. He was there under Tony Blair, under

:46:31. > :46:34.Gordon Brown, he has been there under David Cameron, so he has

:46:35. > :46:41.served all three Masters. What would be happening right now, coming up to

:46:42. > :46:49.7am, in number ten? There would have been worth on contingency plans for

:46:50. > :46:52.this sort of event. They will be worrying about the volatility in the

:46:53. > :46:56.markets and hoping that that will calm down. There is not much they

:46:57. > :47:01.can do about the pound falling, it will get to its level, but they

:47:02. > :47:06.would think about making sure there are not unstable markets. On the

:47:07. > :47:12.political front, we need to sort ourselves out to get a negotiating

:47:13. > :47:16.position so that we can sort out how we exit from the EE you. For

:47:17. > :47:22.example, when the witch figure Article 50? If I were a cabinet

:47:23. > :47:26.secretary, I would say there is no rush, and I am glad to hear some of

:47:27. > :47:31.your guests say the same, because this is a two-year process and this

:47:32. > :47:35.is not a simple process. It was designed to make leaving very

:47:36. > :47:41.difficult and not easy for the leaving country. I will be holding

:47:42. > :47:46.off on that and waiting until we have a settled Government that can

:47:47. > :47:52.give clear direction to implement the will of the people on how we

:47:53. > :47:57.leave. The Prime Minister said, maybe this was just a threat, but if

:47:58. > :48:00.the vote was to leave, he would leave, he would invoke article 50.

:48:01. > :48:06.You would say, actually, you don't need to? It is obvious he doesn't

:48:07. > :48:11.need to, accept for political reasons. The country have voted,

:48:12. > :48:14.they will be in patient with the Prime Minister, who they don't like

:48:15. > :48:25.very much, cos they did not go along with his view, --. Will he decide he

:48:26. > :48:31.wants to stay on and lead the negotiations? When you trigger

:48:32. > :48:34.article 50, which is a letter from the Prime Minister to the Council of

:48:35. > :48:40.the European Union, you start the two-year clock. I would not be in

:48:41. > :48:46.any rush to start it off. We know where we are going, the people have

:48:47. > :48:53.spoken, the question is, how do you exit and when do you stop the formal

:48:54. > :48:57.process? Article 50 is the only legal way to leave. We have signed

:48:58. > :49:02.up to a treaty that says that is how we leave. You could negotiate it all

:49:03. > :49:07.before you invoke the article and then leave a month later. You could

:49:08. > :49:10.do all of the negotiation before, giving yourself time to think it

:49:11. > :49:17.through and talk to all your former partners in Europe. It takes two to

:49:18. > :49:22.tango, the EU might say, actually, we have a process for leaving, we

:49:23. > :49:28.specified it, you signed up to it, so let's start doing this within the

:49:29. > :49:32.framework of the article. Two years is a very short time in European

:49:33. > :49:38.negotiations, most things seem to take ten or 15 years. I pointed out

:49:39. > :49:43.some time ago it took Greenland three years to sort out its exit,

:49:44. > :49:49.they only had one issue, fish, and rather fewer people than watch most

:49:50. > :49:57.European football matches. Take us back inside the Cabinet room. You

:49:58. > :50:01.have a Prime Minister who has fought throughout very hard and said,

:50:02. > :50:06.listen to the experts, to the Bank of England, you have a Chancellor

:50:07. > :50:13.who said, it will damage GDP, we will have a deficit, GDP will fall,

:50:14. > :50:17.we will have to put up taxes. Can those two people negotiate this, or

:50:18. > :50:22.would you say, it would be wiser to have different people do it who are

:50:23. > :50:28.not quite as committed, as you have been, to not taking this step? That

:50:29. > :50:33.as they call the Prime Minister will have to make. You would have to say

:50:34. > :50:38.something as Cabinet Secretary about what was advisable. You are not

:50:39. > :50:43.there now, so you can speak freely. What I would say is it is

:50:44. > :50:48.important... The civil service will need to be directed. Just as they

:50:49. > :50:53.were clear when the Prime Minister or the Government had a position

:50:54. > :50:57.that we would remain in, so they were working with the Government on

:50:58. > :51:03.that, we now need a clear position as to what is the form of Leave.

:51:04. > :51:08.Access to the single market, the question about free movement of

:51:09. > :51:14.Labour, those issues. We need that position to be sorted out. Who will

:51:15. > :51:17.do that? I suspect that if the Government that will be around for a

:51:18. > :51:25.long time. The Prime Minister will want to think about whether he is

:51:26. > :51:30.the right person to do that, or whether he will want to say, look, I

:51:31. > :51:35.did my renegotiation, the people have spoken, I am now going to

:51:36. > :51:39.manage a period where we move on to a new set of people who will do this

:51:40. > :51:45.negotiation. I will leave it to Boris? That is a matter for the

:51:46. > :51:51.Conservative Party. If he decides he wants to start a leadership process,

:51:52. > :51:58.the Conservative MPs get to do a short list, which goes to the party.

:51:59. > :52:02.What kind of a shock is this to the civil service, the people who were

:52:03. > :52:07.much derided during this campaign, the so-called experts, who thought

:52:08. > :52:15.of themselves as experts, what kind of shock is it to them to suddenly

:52:16. > :52:20.have to change tack? They quit on the uptake? Will they be thinking in

:52:21. > :52:25.a different mindset already? Or will there be a total confusion for a

:52:26. > :52:32.year or two? Not in a different mindset. The work they did was

:52:33. > :52:35.clear, they were in support of the Government that had a strong

:52:36. > :52:41.position, which was that we should remain in. If the Government

:52:42. > :52:46.position is that we are leaving, which it will be now, they will work

:52:47. > :52:51.hard to get the very best deal for Britain in terms of leaving. That

:52:52. > :52:57.will be fine. The things that were said by the Treasury and the rest of

:52:58. > :53:02.it, I think, are things we will have to grapple with. It is difficult,

:53:03. > :53:08.there are likely to be economic difficulties. The predictions of

:53:09. > :53:14.market volatility have turned out to be true. The question is, how can we

:53:15. > :53:21.manage all of those difficulties as best we can? That is what they have

:53:22. > :53:27.to do now. Thank you for joining us from Westminster. Shall we now have

:53:28. > :53:30.a look, as people will be joining us at this time, just coming up to 7am,

:53:31. > :53:44.the story of what happened? Yes, let's go to the maps, the map

:53:45. > :53:50.of the UK. At the colours came in. Blue for Leave, yellow for Remain.

:53:51. > :53:53.It was not enough. Scotland, Northern Ireland and London voting

:53:54. > :54:02.for Remain, but not enough to swing it. If I, the map in for Leave and I

:54:03. > :54:07.darken the blue where the Leave vote was strongest, you can see where it

:54:08. > :54:12.packed a punch. Light blue in Scotland, where Leave was weak, but

:54:13. > :54:18.the North of England was very strong for blue. The East of England,

:54:19. > :54:23.especially East Anglia, the Thames Gateway, and London, very light,

:54:24. > :54:28.does not much was going on for Leave. The question was, would the

:54:29. > :54:34.votes in London come through and turn it around? They never really

:54:35. > :54:41.did in sufficient numbers, because the Leave vote was too strong. In

:54:42. > :54:48.each counting area, we have placed a stalk in the colour of the side that

:54:49. > :54:53.one, blue for Leave, yellow for Remain. Where it is high, they won

:54:54. > :55:00.by a large amount. Edinburgh, a big majority to remain. In parts of the

:55:01. > :55:05.Midlands, East Midlands, West Midlands, lots of votes for Leave.

:55:06. > :55:14.The heavy numbers in London for Remain. Let's go to the north-east.

:55:15. > :55:21.We saw some remarkable results. The very first big result was this one.

:55:22. > :55:27.It is that small yellow rectangle, cube, which should have been, we

:55:28. > :55:34.thought, a much eager vote for Remain in Newcastle. It only just

:55:35. > :55:39.went to Remain, that was a sign that things were going badly for Remain.

:55:40. > :55:44.The Leave side packed away some extraordinary results, look at the

:55:45. > :55:50.height of Durham. It is the county council. A lot of votes piling up

:55:51. > :56:00.for Leave in the north-east of England. And elsewhere. The West

:56:01. > :56:05.Midlands. Warwick is the loan yellow rectangle, the stalk that is yellow.

:56:06. > :56:10.Not much else to write home about for Remain. Some really thumping

:56:11. > :56:16.victories in the West Midlands the Leave. In Dudley and Walsall. The

:56:17. > :56:23.height represents the amount of votes that Leave one by. The West

:56:24. > :56:28.Midlands was extraordinary. We can see Birmingham in the middle. It had

:56:29. > :56:33.the biggest number of voters in its counting area, bigger than anywhere

:56:34. > :56:37.else in the country, 700,000, but they cancelled each other out. There

:56:38. > :56:43.was not much of a majority for Leave. But that was to their

:56:44. > :56:50.advantage, because Birmingham was expected on paper to go Remain. The

:56:51. > :56:56.fact that Leave one in Birmingham was remarkable, and any sense of

:56:57. > :57:02.impact did not happen for the Remain side. The East Midlands, lots of

:57:03. > :57:08.Leave victories. You can see the yellow is Leicester and Rushcliffe,

:57:09. > :57:16.but Boston on the east Coast had the biggest majority, something like 80%

:57:17. > :57:22.voting Leave. It was the most Eurosceptic counting area, we knew

:57:23. > :57:29.it would be. You can see the blue bars piling up in so many parts of

:57:30. > :57:34.the country. That is how Leave one. London, let's look at these

:57:35. > :57:41.boroughs. 33 of them. Look how many went Remain. It was not enough. They

:57:42. > :57:47.managed to not clinch victory in places like barking and Haver and

:57:48. > :57:52.Bexley. They did not put on enough votes across all of these London

:57:53. > :57:57.counting areas, these boroughs. Lambeth had a huge majority to

:57:58. > :58:00.remain, that would have helped, but places like Hounslow were much

:58:01. > :58:11.closer, so London did not come to the rescue of Remain in the UK.

:58:12. > :58:17.60-40 in London for Remain, 60-40 in the rest of England for Remain. It

:58:18. > :58:19.was an unequal match in the end, and that shows why the UK has voted to

:58:20. > :58:31.leave the EU. You described yourself as sad and

:58:32. > :58:33.angry in the middle of that Remain camp, but all of those big

:58:34. > :58:38.metropolitan borough 's, the places like Newcastle, Birmingham,

:58:39. > :58:43.Sheffield, that were expected to be solid for Remain, were not. I am not

:58:44. > :58:51.that offered about doing an analysis of the individual results, the

:58:52. > :58:54.reality is we wake up to a Britain that complies with the vision that

:58:55. > :58:59.Nigel Farage has set out, and that is not the country I believe in. I

:59:00. > :59:03.accept the result, it is important to do that, but I don't believe that

:59:04. > :59:07.we should turn our back on the outward looking, decent, inclusive,

:59:08. > :59:15.internationalist Britain that we believe in. I am utterly gutted and

:59:16. > :59:19.heartbroken, it is beyond party politics, but I think I am in no

:59:20. > :59:24.mood for giving up, or thinking, this is the kind of country I will

:59:25. > :59:29.accept. The Britain that three out of every four younger people voted

:59:30. > :59:34.for is the one which does stand tall in the world, promotes prosperity,

:59:35. > :59:38.working with others, wants to build peace and be a good neighbour, not

:59:39. > :59:45.be isolated, fearful, angry and alone. I accept the result, but I

:59:46. > :59:48.don't agree with it. It does not sound like you accept it, when you

:59:49. > :59:55.talk about those who did not vote to remain, the suggestion is they are

:59:56. > :00:00.not decent. The Liberal Democrats have a habit of not coming first in

:00:01. > :00:04.elections, so I accept the outcome, but over the last 20 years people

:00:05. > :00:10.like David Cameron, Conservative ministers and MPs, who has cheaply

:00:11. > :00:15.divided the EU for a quick headline, has stocked up a swell of distrust

:00:16. > :00:19.against the EU, and although I have stood shoulder to shoulder with

:00:20. > :00:24.Harriet Harman, Horden Brown, Andy Burnham, who have pulled a shift, I

:00:25. > :00:28.accused Jeremy Corbyn and the lady -- Labour leadership in other

:00:29. > :00:34.spinelessness for not getting involved in the campaign for

:00:35. > :00:37.Britain's soul and future. This is where British politics changes.

:00:38. > :00:38.Progressives need to start working together and stop being spoken down

:00:39. > :00:49.to by the extremists. Do you think Jeremy Corbyn should

:00:50. > :00:54.go? I think he has let the country down massively. Those areas which

:00:55. > :00:59.has let the country down for Remain, they were the areas which Labour was

:01:00. > :01:02.supposed to deliver. And that goes along with the spinelessness of a

:01:03. > :01:06.Conservative garment which limped into this situation and could not

:01:07. > :01:09.present a positive argument. We tried very hard throughout this

:01:10. > :01:13.campaign to be uplifting and positive about Britain's role in the

:01:14. > :01:17.world. It is one of the reasons why three quarters of young voters voted

:01:18. > :01:24.to remain. What a tragedy that other voters have voted otherwise. The

:01:25. > :01:28.truth is, maybe David Cameron expected the Lib Dems to be stopping

:01:29. > :01:32.him? Maybe he did. But in the case of David Cameron and Boris Johnson

:01:33. > :01:35.as well. You have got two Conservative politicians who have

:01:36. > :01:40.both taken positions in this referendum, purely for their own

:01:41. > :01:44.personal, career benefit, not for the country's good. It is about time

:01:45. > :01:47.we have politicians who stood up for what was in the interests of the

:01:48. > :01:51.whole country, and our role in the world, rather than just politicking

:01:52. > :01:54.for the next election. Would you be surprised if Scotland went for

:01:55. > :01:59.another referendum now? There should not be another referendum in

:02:00. > :02:01.Scotland, with the pound tanking, the last thing Scotland or the rest

:02:02. > :02:07.of the United Kingdom needs is to add to that self-inflicted recession

:02:08. > :02:12.with further internal disarray. This is a divided country, let's not make

:02:13. > :02:27.it more divided. The last result came in, and it was Cornwall voting

:02:28. > :02:30.to leave. 56%. So, here is the final result for the United Kingdom. Here

:02:31. > :02:43.are the actual numbers of how people voted yesterday's. One million and a

:02:44. > :02:48.bit majority for those who want to leave. We will go on looking at the

:02:49. > :02:53.results of all of this. We will be talking to Jeremy Corbyn. I hope you

:02:54. > :02:56.heard Tim Farron saying that he had failed to deliver for the Labour

:02:57. > :03:00.Party, and we will be talking about that. Let's now have a catch of the

:03:01. > :03:07.news and the weather, with Louise Minchin. Thank you. Good morning.

:03:08. > :03:10.Britain has voted to leave the European Union. There have been

:03:11. > :03:14.strong wins for Leave in the north-east of England and in the

:03:15. > :03:16.Midlands. Scotland and Northern Ireland voted to remain in the EU.

:03:17. > :03:21.Eleanor Garnier reports. Well, at 20 minutes to five,

:03:22. > :03:24.we can now say the decision taken in 1975 by this country to join

:03:25. > :03:27.the Common market has been reversed We are absolutely clear

:03:28. > :03:35.now that there is no way Watch and listen carefully -

:03:36. > :03:52.this is history in the making... The British people have spoken,

:03:53. > :03:55.and the answer is, we are out. And these were the celebrations just

:03:56. > :03:58.moments before the BBC This will be a victory for real

:03:59. > :04:02.people, a victory for ordinary With the pound plunging,

:04:03. > :04:06.Remain campaigners This is a crushing, crushing

:04:07. > :04:10.decision. It is a terrible day for Britain

:04:11. > :04:14.and a terrible day for Europe, This moment, this is a seismic

:04:15. > :04:18.moment for our country, which goes We are talking about

:04:19. > :04:24.what happens to David Cameron - What this has exposed

:04:25. > :04:29.is a lot of division. There's 48% of people

:04:30. > :04:43.on the current prediction But this prominent Leave campaigner

:04:44. > :04:47.called for cross-party co-operation. We have a responsibility to act in

:04:48. > :04:53.the best long-term interests of this country. It was not long after the

:04:54. > :04:57.polls closed before Leave started marking up huge wins. Across the

:04:58. > :05:02.north-east, results soon showed Leave doing consistently better than

:05:03. > :05:10.predicted. A big win in Hartlepool, and pushing Remain into a narrow

:05:11. > :05:16.victory in Newcastle. 65,404... A much smaller win than expected. Away

:05:17. > :05:18.from the north of England, in Basildon, in Essex, another big win

:05:19. > :05:24.for Leave. And another count with

:05:25. > :05:26.a big turnout, at 74%. And in Flintshire, just

:05:27. > :05:29.as across the rest of Wales, But Scotland voted emphatically

:05:30. > :05:36.to stay in the EU, though the overall result will lead

:05:37. > :05:49.to renewed calls for a second After counting was completed,

:05:50. > :05:53.Northern Ireland voted to remain. And it looks like London will be the

:05:54. > :06:00.only region of England to back staying in the EU. Parliaments

:06:01. > :06:05.across the European Union will now be busy for years. Britain has voted

:06:06. > :06:08.to leave the EU, to tear up the settlement the country has had for

:06:09. > :06:11.decades, unleashing perhaps huge opportunity, perhaps huge risk. Or

:06:12. > :06:21.perhaps both. The results have upset the world's

:06:22. > :06:24.financial markets, with the pound falling again this morning to $1.34,

:06:25. > :06:27.its lowest since 1985. When the polls closed,

:06:28. > :06:28.it soared to $1.50, but as they showed stronger

:06:29. > :06:40.than expected support for leaving The Bank of England says it is

:06:41. > :06:43.monitoring developments closely. Scotland's First Minister has

:06:44. > :06:47.suggested that the Leave vote will reignite demands for an independence

:06:48. > :06:50.referendum there. All 32 Scottish local authorities returned

:06:51. > :06:54.majorities for Remain. Nicola Sturgeon said it made clear that the

:06:55. > :06:57.people of Scotland see their future as part of the European Union. We

:06:58. > :06:59.will have more from the results programme shortly. First, let's have

:07:00. > :07:15.a look at the weather, with Carol. Pollen levels are high or very high

:07:16. > :07:20.except for the north of Scotland. For many western and central parts

:07:21. > :07:25.of the UK today, we are looking at showers. Some of them will be heavy

:07:26. > :07:31.and thundery, with some hail. In between, there will be some

:07:32. > :07:34.sunshine. Sunshine and showers, some of them thundery, across Northern

:07:35. > :07:37.Ireland, north-west England, Wales and the south-west of England. Once

:07:38. > :07:42.again, in between the showers, there will be some sunshine. Sunshine and

:07:43. > :07:48.showers across the Midlands, but compared to the deluge of rain in

:07:49. > :07:52.the south-east and East End year yesterday's, it will be relatively

:07:53. > :07:58.dry. Consider yourself lucky if you do catch a shower. The showers will

:07:59. > :08:02.persist in the north and the west. It's not going to be a cold night.

:08:03. > :08:09.All of us staying in double figures. Tomorrow, once again, it's going to

:08:10. > :08:12.be a day of sunshine and showers. The distribution is slightly

:08:13. > :08:20.different, with the north and west seeing something a little bit drier.

:08:21. > :10:24.A quick look at what is happening on Sunday. We start

:10:25. > :10:48.With Britain voting Julie EU, all eyes this morning are on Downing

:10:49. > :10:55.Street. Laura Kuenssberg has gone down there. What is the news from

:10:56. > :10:58.behind you? Well, the street is absolutely packed. I think I can

:10:59. > :11:03.show you the pick shares of the British press, and many members of

:11:04. > :11:06.the international press, filling up Downing Street, the official

:11:07. > :11:09.residence of the Prime Minister. Huge anticipation here. We are not

:11:10. > :11:14.entirely sure when, but we expect before eight o'clock, when the

:11:15. > :11:18.financial markets opened, we will see David Cameron come out of that

:11:19. > :11:23.store to make a statement. We do not know in detail what he will say. But

:11:24. > :11:30.two themes he will address, I'm sure, firstly, he will urge the need

:11:31. > :11:33.for stability after this tumultuous result, which of course has come

:11:34. > :11:39.about by a political decision which he made to offer the referendum in

:11:40. > :11:43.the first place. He will urge calm and stability. And I'm sure he will

:11:44. > :11:48.be doing everything in his power to try to convey a sense of calm. The

:11:49. > :11:52.second call but I understand he will make is for the Tory party to come

:11:53. > :11:55.together, to urge his colleagues, who have been so bitterly divided in

:11:56. > :11:59.this bruising fight during the referendum, to come together,

:12:00. > :12:03.basically not to start knocking lumps out of each other. The big

:12:04. > :12:07.question mark is whether or not he will address the matter of his own

:12:08. > :12:12.departure. Now, senior Tories I have spoken to in the last hour also have

:12:13. > :12:16.actually, in the main, been clear that they do not think this is the

:12:17. > :12:22.moment for David Cameron to say he is up and off. In a moment like

:12:23. > :12:25.this, when so much is up in the air, most in the Tory party seem to

:12:26. > :12:30.believe that he should stay, at least for the moment. But do not

:12:31. > :12:34.think that that does not mean there are not conversations going on about

:12:35. > :12:39.this. As we have said, the experience of such a snub for him,

:12:40. > :12:42.the man who was front and centre of this campaign, who has been defeated

:12:43. > :12:47.in such a way, inevitably means in one way or another, his time in

:12:48. > :12:52.office is foreshortened. That does not mean he's about to come out of

:12:53. > :12:56.the door and resign at all. But whether he admits he admits it

:12:57. > :12:58.publicly or not, privately, most people in Westminster would now say

:12:59. > :13:05.his time in office is certainly contracted. The only person who has

:13:06. > :13:09.come out of the door so far this morning, not actually a person, but

:13:10. > :13:15.Larry the cat, never one to miss a big moment like this. While not

:13:16. > :13:17.coming out and saying, I will resign, do you think he might give

:13:18. > :13:22.an indication that perhaps overcome the autumn, he would act as a

:13:23. > :13:29.caretaker, but somebody else should take forward Britain's leading the

:13:30. > :13:33.EU? Because quite clearly, a lot of people might think it was almost

:13:34. > :13:40.fraudulent for him to negotiate the departure, when he has fought this

:13:41. > :13:45.bitter battle to stay in - is he the man to get the best deal taking us

:13:46. > :13:49.out, will when one of the reasons we lost it was because people said the

:13:50. > :13:53.deal he got was not good enough? Indeed. And also, having with such

:13:54. > :13:57.regularity and forcefulness, predicted doom and disaster if the

:13:58. > :14:01.public made this democratic decision. I think there are two

:14:02. > :14:08.different things. Firstly, I think it is likely that there will be

:14:09. > :14:10.maybe not explicitly but some hint about the possible timetable.

:14:11. > :14:14.Perhaps he might say that at the party conference in the autumn, he

:14:15. > :14:19.might set out his own future. Perhaps he might at least privately

:14:20. > :14:23.give his cabinet ministers and some hint later today. We expect the

:14:24. > :14:28.Cabinet will be brought together, on his own individual plans. I think it

:14:29. > :14:32.is probably more likely that he will focus on appointing a negotiating

:14:33. > :14:36.team. It may be that he comes out and names one or two of the people

:14:37. > :14:40.who would be negotiating on the other side. Huge speculation about

:14:41. > :14:46.Michael Gove being part of the negotiating team. Perhaps Boris

:14:47. > :14:49.Johnson, too. It might be that we get an assurance from David Cameron

:14:50. > :14:54.that people who won the argument will be part of those negotiations.

:14:55. > :14:59.But in terms of his own planned departure, whether that is one month

:15:00. > :15:03.or one year, I'm not sure how explicit he will be about that.

:15:04. > :15:07.Several senior Tories this morning who have been on the other side of

:15:08. > :15:11.the argument has said the first thing he must do, after calling for

:15:12. > :15:15.calm, is to get a group of senior people together to make a plan,

:15:16. > :15:19.before he can make any detailed proposals.

:15:20. > :15:31.Tim Farron said that Jeremy Corbyn failed to deliver. There has been a

:15:32. > :15:36.feeling that somehow the Labour Party did not bring out its own

:15:37. > :15:41.people in support of Remain as quite as strongly or with as much

:15:42. > :15:44.conviction as it should have done. What is going on in the Labour

:15:45. > :15:54.Party? Are there recriminations from Chuka Umunna, who was here earlier?

:15:55. > :15:59.Undeniably there will be very serious recriminations. I have heard

:16:00. > :16:05.from Labour Party people who are angry and feel that Jeremy Corbyn

:16:06. > :16:11.did not do enough to mobilise the party, the huge new membership that

:16:12. > :16:18.he managed to attract over the summer, to get out the vote, and

:16:19. > :16:24.what he described as an agenda of remain and reform was not the kind

:16:25. > :16:30.of thing that would motivate people. He said that the EU was seven and

:16:31. > :16:34.half out of ten. For many people it was an honest assessment, but as a

:16:35. > :16:39.rallying cry to get voters to turn out on an issue like this? Many

:16:40. > :16:42.Labour MPs feel he was not convincing enough, he had to be

:16:43. > :16:47.pushed and dragged into getting out there and making the case. What is

:16:48. > :16:53.also imitating some Labour MPs is that they have been sent round the

:16:54. > :16:58.lines to take, a copy of it has been leaked to me, and the party HQ

:16:59. > :17:03.suggest that they should tell the public that Jeremy Corbyn is now the

:17:04. > :17:14.only political leader who can unite the country. As a critical Remainer,

:17:15. > :17:18.he is more in touch with the public than any of the other party leaders

:17:19. > :17:22.are. Much of the vote was about people showing they are unhappy with

:17:23. > :17:27.European immigration, and Jeremy Corbyn is probably the most pro-EU

:17:28. > :17:34.immigration leader out there, some Labour MPs think that beggars

:17:35. > :17:39.belief. One MP predicted there could also be a Labour leadership contest

:17:40. > :17:47.under way in the next couple of months. Diane Abbott, have you

:17:48. > :17:53.received a message from Labour Party HQ, that this is the line you should

:17:54. > :17:58.take? I have not responded to them for 30 years, I am not going to

:17:59. > :18:04.start now! The people that are complaining about Jeremy would blame

:18:05. > :18:08.him when the sun sets at night. The truth is, all fingers have to point

:18:09. > :18:12.out David Cameron, he chose to have the referendum, the timing of it, he

:18:13. > :18:18.cooks up a bogus renegotiation, and he failed to persuade them. And

:18:19. > :18:25.Labour also failed. We got out more of our vote and they did of theirs.

:18:26. > :18:31.We shall discover. Let's come back to the economy and the problems that

:18:32. > :18:37.Britain is facing at the moment, the markets are volatile, falling, what

:18:38. > :18:45.is going on? It has been a remarkable night. At 10pm the pound

:18:46. > :18:49.was hitting record highs for 2016, when the polls seemed to suggest

:18:50. > :18:54.that Remain had had a good day in the referendum. It has now sunk more

:18:55. > :19:01.quickly than it sank in the 2008 financial crisis, on Black

:19:02. > :19:06.Wednesday, when the pound was injected from the exchange rate

:19:07. > :19:09.mechanism markets. The markets are signalling that the uncertainty

:19:10. > :19:15.created by the referendum has affected their appetite for risk,

:19:16. > :19:24.for investing in the UK to an extent. When we started at 10pm the

:19:25. > :19:30.opposite was happening, don't people listening to this view these markets

:19:31. > :19:35.with a certain contempt, like gamblers, they see what they think

:19:36. > :19:39.will happen, the market rises, the pound rises, it doesn't happen, the

:19:40. > :19:44.pound falls, but that is not real life. But it has an effect on real

:19:45. > :19:50.life. If your business is buying products in dollars and the pound

:19:51. > :19:54.has reduced in value by over 10%, your business is starting to

:19:55. > :19:58.struggle. If you are an exporter to other markets and the pound falls,

:19:59. > :20:04.your exports become cheaper. So these are real things, this is a

:20:05. > :20:12.real signal about investor confidence in sterling and, by

:20:13. > :20:17.association, in the UK economy, and if the UK economy is going to be

:20:18. > :20:20.positive in the future. You remember Harold Wilson, the pound in your

:20:21. > :20:25.pocket has not been devalued, if you go to the shops today or next week

:20:26. > :20:27.to do the weekly shop, are you going to find it more expensive because of

:20:28. > :20:37.what has happened in the markets today? It depends. If sterling is

:20:38. > :20:42.lower in value, you tend to import inflation into the country, because

:20:43. > :20:46.your imports become more expensive. That leads to more expensive prices

:20:47. > :20:50.in the shops, if those are the kind of things you are by. The chief

:20:51. > :20:55.counting officer, the chair of the Electoral Commission, announcing the

:20:56. > :21:02.final figures. The referendum held on the 23rd of

:21:03. > :21:10.June 2016, I hereby give notice that I have certified the following. The

:21:11. > :21:17.total number of ballot papers counted was 33,577,000 342. The

:21:18. > :21:32.total number of votes cast in favour of Leave, 16,000,140 1241. -- Leave.

:21:33. > :22:01.The Leave, 17 million. The number of ballot papers rejected

:22:02. > :22:07.was as follows. No official Mark... I was just saying goodbye to Daniel

:22:08. > :22:12.Hannon. You are off. New people coming in. That get back to where we

:22:13. > :22:17.were, the Bank of England. It has come out with a statement, it says

:22:18. > :22:22.it has undertaken extensive contingency planning and says it is

:22:23. > :22:26.working closely with the Treasury. I am hearing from my banking sources

:22:27. > :22:32.that banks do not want David Cameron to spark this article 50 provision

:22:33. > :22:38.immediately to begin the process of Britain leaving the U. That would be

:22:39. > :22:42.a two-year process. The banks I am speaking to say that if he does that

:22:43. > :22:45.immediately, they would have to immediately start relocation plans,

:22:46. > :22:50.because a lot of banks only operate across Europe because of the way the

:22:51. > :22:54.single market functions. If you live that market, they may have to move

:22:55. > :22:59.some of their activities and work into the euro area. They want David

:23:00. > :23:07.Cameron to pause, they have asked for calm. Let's listen to Nigel

:23:08. > :23:14.Farage. Even the weather has improved. It

:23:15. > :23:17.has been a hell of a long journey, I first got involved in Euro-sceptic

:23:18. > :23:23.politics 25 years ago, the first election I contested I managed to

:23:24. > :23:29.beat screaming Lord such by 106 24 votes, so I did not come last. Now

:23:30. > :23:34.there are 17 million people that voted for Brexit. It is a victory

:23:35. > :23:41.for ordinary people, decent people, against the big merchant banks, big

:23:42. > :23:45.businesses, big politics. I am proud of everybody that had the courage in

:23:46. > :23:48.the face of all the threats, every thing they were told, they had the

:23:49. > :23:56.guts to stand up and do the right thing. The election was one, in my

:23:57. > :24:01.view, in the Midlands and the North. It was the old Labour vote that came

:24:02. > :24:08.to us. We campaigned as hard as we could in those areas. There is still

:24:09. > :24:13.a massive disconnect between Westminster and real communities.

:24:14. > :24:17.The one image I will remember throughout the rest of my life is a

:24:18. > :24:22.woman in Bolton grabbing my hand with tears in her eyes, she said,

:24:23. > :24:25.why doesn't David Cameron and the Government come and see but they

:24:26. > :24:32.have done to my community, to the prospects for my kids? People here

:24:33. > :24:36.don't understand, they are too wealthy, they don't get what open

:24:37. > :24:42.door mass immigration as a result of EU membership has done to wages,

:24:43. > :24:46.availability of getting GP appointments or their kids into

:24:47. > :24:52.local schools. This was the issue that won this election. I am

:24:53. > :24:56.thrilled we have done this. I believe the other big effect of this

:24:57. > :25:01.is not what has happened in Britain, but what will happen in the rest of

:25:02. > :25:05.Europe. In the rest of the EU Eurosceptic parties never talked

:25:06. > :25:08.about leaving, now they are, and opinion poll in the Netherlands said

:25:09. > :25:17.a majority want to leave. We may well be close am perhaps, to an

:25:18. > :25:23.excerpt. And similarly in Denmark, a majority are in favour of leaving. I

:25:24. > :25:28.am told the same may apply to Sweden and perhaps Austria and perhaps even

:25:29. > :25:32.Italy. The EU is failing, it is dying, I hope we have knocked the

:25:33. > :25:37.first brick out of the wall, and that this is the first step towards

:25:38. > :25:41.a Europe of sovereign nation states, trading together, neighbours

:25:42. > :25:44.together, friends together, but without flags, anthems or useless

:25:45. > :25:53.unelected president. What happens next? 17 million people have said we

:25:54. > :25:57.should leave the EU, we now need a Brexit Government. A Government that

:25:58. > :26:01.gets on with the job, that begins the renegotiation of our trade

:26:02. > :26:06.relationship. That will be mindful that already many of the German

:26:07. > :26:12.comedy during unions have said, let's get on and do a deal, let's go

:26:13. > :26:17.on and sell motorcars and wine and cheese with each other. A Government

:26:18. > :26:24.that at the same time uses the opportunity of Brexit, we are now

:26:25. > :26:30.freed to start making our own trade deals and associations with the rest

:26:31. > :26:35.of the world. We have left behind a failing political union, we have

:26:36. > :26:41.given ourselves a chance to rejoin the world in the 21st century global

:26:42. > :26:46.economy. We need a Brexit Government, we need the negotiations

:26:47. > :26:51.to start as soon as possible, we need to start thinking globally

:26:52. > :26:56.about our future, and June 23 needs to become a national bank holiday,

:26:57. > :27:03.and we will call at Independence Day.

:27:04. > :27:12.Nigel Farage has made free speech is now since 4am. When he sees a

:27:13. > :27:19.camera, he makes another speech, and he will make more. He was not part

:27:20. > :27:23.of the official Leave campaign, interestingly, and he is not in the

:27:24. > :27:27.House of Commons, and many people thought his style of campaigning was

:27:28. > :27:33.not helpful. I don't know if Kate Hoey was among them, but there is

:27:34. > :27:38.the shot, the early morning light. It is not early morning in June,

:27:39. > :27:44.7:30am. The House of Commons, and all of those cameras out on the

:27:45. > :27:51.green. We have had a statement from the Bank of England.

:27:52. > :28:02.I could have written that. No surprise. I am joined by Kate Hoey,

:28:03. > :28:07.the Labour MP for Vauxhall, a Leave campaigner, and Eric Pickles, who is

:28:08. > :28:12.not a Leave campaigner. You heard what Nigel Farage said, recent,

:28:13. > :28:17.ordinary people have one, they are on the side of Leave, and the others

:28:18. > :28:22.are not decent or ordinary and they are just the toffs and experts. What

:28:23. > :28:27.I saw around the country, especially in Labour areas, this feeling that

:28:28. > :28:32.Labour voters felt they had not been listened to, and they had been

:28:33. > :28:40.ignored, they had been called stupid and ignorant and racist for just

:28:41. > :28:47.saying what they thought was wrong. I will come back to you. Jeremy

:28:48. > :28:55.Corbyn has just joined us. Thank you for coming here. You famously said

:28:56. > :29:00.during this campaign you were seven and a half out of ten in favour of

:29:01. > :29:05.remaining, now you are two and a half victorious, and the seven and a

:29:06. > :29:13.half has been abandoned. How do you see the future? Are you an

:29:14. > :29:17.enthusiastic Brexiter now? The British people have made their

:29:18. > :29:20.decision, we must respect the result, and article 50 has to be

:29:21. > :29:25.invoked so we can negotiate an exit from the U. A lot of the message

:29:26. > :29:31.that has come back from this is that many communities are fed up with

:29:32. > :29:37.cuts they have had, fed up with economic dislocation, and feel very

:29:38. > :29:40.angry at the way they have been betrayed and marginalised by

:29:41. > :29:45.successive governments in very poor areas of the country. My point

:29:46. > :29:50.throughout the campaign. We had to have an alternative to austerity, we

:29:51. > :29:55.had to have greater resources going into areas where there has been huge

:29:56. > :29:59.changes, and I called for the introduction of a migrant impact

:30:00. > :30:03.fund as well as proper funding of local authorities. The results are

:30:04. > :30:09.different across the country, different between densely populated

:30:10. > :30:13.urban areas and other parts of the country. We now have to try and

:30:14. > :30:19.protect the working conditions that we have in this country, and in the

:30:20. > :30:24.negotiations with the European Union try to ensure that there are some

:30:25. > :30:27.trade opportunities for Britain, because there are some difficult

:30:28. > :30:32.days ahead, the value of the pound has already fallen, and there will

:30:33. > :30:36.be job consequences as a result of this decision. We have to do evident

:30:37. > :30:42.we can to try to protect jobs and working conditions in Britain.

:30:43. > :30:51.If you want to do everything possible to protect jobs and working

:30:52. > :30:56.conditions, why don't you want to do what Daniel Hannan was suggesting,

:30:57. > :31:00.which was, take it easy? Go and talk to them in Europe, think about it,

:31:01. > :31:04.discuss it, work out a strategy, and gently, gently will be much better

:31:05. > :31:09.than rushing headlong into article 50? Obviously, there has to be a

:31:10. > :31:12.strategy. But the whole point of the referendum was that the public would

:31:13. > :31:18.be asked their opinion. They have given it. And I think it is up to

:31:19. > :31:21.Parliament to act upon that opinion. But quite clearly, negotiations must

:31:22. > :31:25.take race. There must be the best deal possible in order to ensure

:31:26. > :31:31.strong industries in Britain remain strong, and strong industries which

:31:32. > :31:36.have big export markets retain those export markets, as far as we can.

:31:37. > :31:40.But we are in some very difficult areas, that's very obvious to

:31:41. > :31:46.everybody. The accusation that Labour was half started, and you in

:31:47. > :31:50.particular, with your 7.5, I don't know what you mean by that, support

:31:51. > :31:54.for the EU, do you think you could have won this thing if you had been

:31:55. > :31:58.ten out of ten for remaining in the EU? The point I made throughout the

:31:59. > :32:02.campaign, the point the Labour Party made was, there were many people who

:32:03. > :32:05.were not particularly happy with the European Union. The point I was

:32:06. > :32:09.making was, there were good things which had come from Europe in

:32:10. > :32:13.working conditions and environmental and is, but there were other issues

:32:14. > :32:15.which had not been addressed properly, particularly economic

:32:16. > :32:20.inequalities in Britain. And therefore I said that my project was

:32:21. > :32:24.that we should vote to remain, in order to change and reform the

:32:25. > :32:26.European Union, and put forward an economic strategy which is not

:32:27. > :32:30.hostility, isn't punishing the poorest, which is actually trying to

:32:31. > :32:34.ensure that everyone gets a fair crack of the whip. What about

:32:35. > :32:39.immigration? You clearly laid out your view of immigration, and there

:32:40. > :32:44.was no upper limit to immigration into this country. Many of the

:32:45. > :32:51.people who support you and I suspect voted to leave, believe there should

:32:52. > :32:54.be an upper limit. And you were very clear, I remember seeing you say it

:32:55. > :32:59.to Andrew Marr - no upper limit. Was that a mistake? What I was clear

:33:00. > :33:03.about was that within the single market, the European Union, there

:33:04. > :33:07.has to be free movement of people. And that we should also recognise

:33:08. > :33:12.that more than a million British people live in other parts of

:33:13. > :33:15.Europe, and indeed probably almost another million work at various

:33:16. > :33:19.times in other parts of Europe. And so if we remain in the single market

:33:20. > :33:23.come them quite clearly, free movement takes place. But the very

:33:24. > :33:28.strong point I was making was that there had to be an end to the

:33:29. > :33:31.undercutting of wages, to the destroying of working conditions in

:33:32. > :33:34.this country, I people bringing brought in by on scrupulous

:33:35. > :33:40.employers. The point was that nobody should be exploited and we should

:33:41. > :33:44.face that down through the posting of the workers directive. If we no

:33:45. > :33:49.longer have an obligation to take anybody who wishes to come here from

:33:50. > :33:54.the European Union to work, what would Labour's policy be on

:33:55. > :33:59.immigration? Well, at the moment there is controlled immigration from

:34:00. > :34:02.the rest of the world. There are often great difficulties over Family

:34:03. > :34:07.Reunion. There are people who come in with particular skill sets and

:34:08. > :34:10.particular jobs. We will obviously have to develop an immigration

:34:11. > :34:15.policy, which will apply to Europe as well as to the rest of the world.

:34:16. > :34:19.But I think we should also recognise that those who have migrated to this

:34:20. > :34:23.country have made an enormous contribution to our society. Indeed

:34:24. > :34:28.there are 50,000-odd people from other parts of Europe working in our

:34:29. > :34:31.National Health Service. It is an important issue, and we have to

:34:32. > :34:36.recognise the skill sets which many have brought to this country and

:34:37. > :34:40.given us a good standard of living. That is interesting. But do you

:34:41. > :34:44.accept that one of the reasons people voted to leave was because

:34:45. > :34:46.they thought immigration was too high, whether they were right or

:34:47. > :34:51.wrong about that, they did think that? Many probably did, but there

:34:52. > :34:54.is also the question of the impact of migration and the lack of

:34:55. > :34:58.government support for areas which have been most affected. Many of the

:34:59. > :35:02.poorest communities in Britain have had the biggest cuts in central

:35:03. > :35:05.government expenditure to support their local authorities, and at the

:35:06. > :35:11.same time be refused any special help to deal with issues of school

:35:12. > :35:15.places and health places, which are often temporary issues but

:35:16. > :35:21.nonetheless very important. You make an elegant description about the

:35:22. > :35:25.problems which are their, but do you think you just missed a trick here,

:35:26. > :35:30.which was that people were much more worried about actual numerical

:35:31. > :35:34.immigration than you gave them credit for? You always said, it

:35:35. > :35:37.would be all right if there were more housing, it would be all right

:35:38. > :35:42.if we stopped people being sent on lower wages, workers directed and

:35:43. > :35:46.all of that kind of stuff - actually it was the numbers people were

:35:47. > :35:50.worried about? I made those points because that is what I believe to be

:35:51. > :35:54.the right way forward, to end the exploitation of people, whoever they

:35:55. > :35:58.are, and ensure that our local authorities are properly funded in

:35:59. > :36:01.all parts of this country. This government has a strategy of

:36:02. > :36:04.systematically and deliberately underfunding all local authorities

:36:05. > :36:08.in the very poorest areas of this country, which faced the greatest

:36:09. > :36:11.problems. Mr Corbyn, what would you like to see the Prime Minister do

:36:12. > :36:18.now? Do you think there should be an election quite soon, say, in the

:36:19. > :36:21.autumn, because we have had a Prime Minister who urged us to remain, and

:36:22. > :36:25.the country has decided to leave? The Prime Minister has some urgent

:36:26. > :36:30.tasks ahead of him, one of which is to try to use to belies the value of

:36:31. > :36:33.the pound. The other is to try and ensure the continuation of long-term

:36:34. > :36:38.investment in manufacturing and other industries, and then to begin

:36:39. > :36:41.the negotiations on the trade arrangements with the European

:36:42. > :36:45.Union. More than half our exports already go to the European Union.

:36:46. > :36:49.Thousands of companies all over the country rely on trade with the

:36:50. > :36:52.European Union. That relationship with the European Union after exit

:36:53. > :36:57.is absolutely crucial to the economic teacher of this country. I

:36:58. > :37:00.hope the Prime Minister is going to be concentrating very urgently on

:37:01. > :37:06.that. What he does in the longer term is a matter for him to decide

:37:07. > :37:12.what he wants to do and what the Conservative Party wants to do. Our

:37:13. > :37:15.position is that we will oppose any urgent budget which causes further

:37:16. > :37:19.austerity on people. We will support spending more resources in the areas

:37:20. > :37:25.hardest hit by both recession and changes. And we will try to get

:37:26. > :37:28.ready for a society where there is a greater degree of fairness and

:37:29. > :37:32.equality, and obviously, effective and efficient trading relationships

:37:33. > :37:39.with the rest of the world. And in the meantime, is in the national

:37:40. > :37:44.interest, you want to the Prime Minister and the Chancellor to stay

:37:45. > :37:47.in place? I want them now, quite quickly, to decide what they are

:37:48. > :37:51.going to do, to stabilise the pound. The important thing is to try to

:37:52. > :37:55.protect jobs at the present time. Those jobs are partly dependent on

:37:56. > :37:58.the value of the currency, and the export markets which are available.

:37:59. > :38:04.Mr Corbyn, thank you very much for joining us. So, at this point, let's

:38:05. > :38:10.have a full catch up, with the news, with Louise Minchin. Thank you,

:38:11. > :38:14.David. Good morning. Britain has voted to leave the European Union.

:38:15. > :38:20.The result was officially declared in the past half an hour. There have

:38:21. > :38:23.been strong wins for Leave in north-east England and in the

:38:24. > :38:28.Midlands. Scotland and Northern Ireland voted to remain in the EU.

:38:29. > :38:33.Ukip leader and Leave campaigner Nigel Farage said immigration was

:38:34. > :38:37.the key issue. People here do not understand, they are too wealthy,

:38:38. > :38:41.they do not get what open door, massive immigration as a result of

:38:42. > :38:45.EU membership has done to people's wages, to people's availability of

:38:46. > :38:48.getting GPI appointments, or their kids into local schools. This was

:38:49. > :38:55.the issue ultimately which won this election. I am thrilled that we have

:38:56. > :38:58.done this. I believe the other big effect of this election is not what

:38:59. > :39:04.has happened in Britain, but what will happen in the rest of Europe.

:39:05. > :39:06.Labour MP Umunna, who campaign for the Remain vote, said the result has

:39:07. > :39:14.exposed divisions within Britain. What this has exposed

:39:15. > :39:18.is a lot of division. There's 48% of people

:39:19. > :39:32.on the current prediction The result has affected the

:39:33. > :39:33.financial markets, with the pound falling to its lowest point since

:39:34. > :39:39.1985. When the polls closed,

:39:40. > :39:42.it soared. But as they showed stronger

:39:43. > :39:51.than expected support for leaving The Irish government says the

:39:52. > :39:55.decision has very significant implications. The German Foreign

:39:56. > :39:56.Minister said it was a sad day for Europe and Great Britain. The French

:39:57. > :44:02.government will meet to discuss the I will be back in

:44:03. > :44:16.about half an hour. Time to hand you back to our

:44:17. > :44:24.referendum programme. So, hello again. I have been joined by Sir

:44:25. > :44:30.Eric Pickles, newly knighted. And Kate Hoey, the Labour MP, who is in

:44:31. > :44:35.favour of leaving. What do you make of this result? Are you dismayed by

:44:36. > :44:39.what has happened? I am sad and dismayed, but that is democracy. So

:44:40. > :44:42.we have now just got to get on with it. And we need to get on with it

:44:43. > :44:48.with a reasonable degree of speed. We need to ensure that our economy

:44:49. > :44:56.is stable, we need to start the negotiation process. We need to

:44:57. > :45:02.start the negotiation process with people outside the European

:45:03. > :45:07.Community, which previously Europe did full stop and we need to decide

:45:08. > :45:12.exactly the mix that we currently relied on the road European Union to

:45:13. > :45:18.fund. We will have to decide whether that mixture of economic development

:45:19. > :45:19.and farming is the right one in competition with things like the

:45:20. > :45:29.National Health Service. You say none of the fire and

:45:30. > :45:34.brimstone will happen? I am not saying anything close to that. I

:45:35. > :45:38.hope that does not arise. That will mean that the Government will have

:45:39. > :45:43.to move fairly quickly to establish what our economy will look like when

:45:44. > :45:48.we leave, and in particular, given that it is 80% of our economy

:45:49. > :45:55.relying on the service industries, we have to know where they are going

:45:56. > :46:00.to be. Will we see a great flight of firms, which I hope will not be the

:46:01. > :46:05.case, to Frankfurt, for them to be able to trade inside the European

:46:06. > :46:14.community? I am looking for us to try to find a Brexit that leaves our

:46:15. > :46:18.relationship with the European Community on the friendliest terms

:46:19. > :46:27.as is possible. The interesting point is some people said the

:46:28. > :46:32.exaggerations, which... The things they said would happen, which you

:46:33. > :46:34.are talking about not happening, where the things that put people off

:46:35. > :46:41.the campaign. They felt it was rubbish. I have misspoke if you

:46:42. > :46:46.thought that is what I said. We want to avoid the worst case scenario

:46:47. > :46:53.that was carefully outlined during the campaign, which will require an

:46:54. > :46:58.enormous amount of skill. We are just joined by Philip Hammond, the

:46:59. > :47:03.Foreign Secretary. Good morning, thank you for joining us from

:47:04. > :47:10.College Green. What is your reaction? We have heard a lot from

:47:11. > :47:13.abroad about the alarm and despondency it has caused among our

:47:14. > :47:22.allies, what is your role? What will you do? The first thing the

:47:23. > :47:26.Government has got to do is immediately seek to stabilise the

:47:27. > :47:29.situation in the markets are and then moved to begin a process of

:47:30. > :47:37.negotiating the very best possible terms we can get for Britain to

:47:38. > :47:42.leave the EU. Leaving in place as much as we can offer our trading

:47:43. > :47:45.relationships and economic relationships, including the very

:47:46. > :47:50.important role that the City of London plays in Europe's financial

:47:51. > :47:55.economy. That will be the big challenge of the coming months. One

:47:56. > :48:01.of the arguments raised by the Prime Minister, he was criticised for it,

:48:02. > :48:06.was that our security depended upon being in the EU. He spoke about the

:48:07. > :48:09.white gravestones of the first and second world Wars, he did not say

:48:10. > :48:14.there would be a third world war, but he said it would be a more

:48:15. > :48:20.dangerous world. Do you think it is now a more dangerous world? I don't

:48:21. > :48:25.want to overstate the case, but I do think that Britain has been a very

:48:26. > :48:34.positive influence inside the European Union on the security

:48:35. > :48:39.agenda. For example, in responding to Russia's aggression in Ukraine

:48:40. > :48:45.through EU sanctions and keeping the EU united behind those sanctions

:48:46. > :48:50.with a clear and robust position against what Vladimir Putin is doing

:48:51. > :48:54.has been largely due to Britain's influence, and I worried that with

:48:55. > :49:00.Britain now having a hugely diminished voice in this debate we

:49:01. > :49:05.will see that resolve among our European partners wavering. If Nato

:49:06. > :49:11.not sufficient protection against Russia and Vladimir Putin? Nato is

:49:12. > :49:17.our main bulwark against any attack on us, of course, and Nato will

:49:18. > :49:24.remain our principal defence mechanism. That protects us against

:49:25. > :49:27.any attack. What we were doing with economic sanctions was dealing with

:49:28. > :49:32.a situation where we were not directly threatened. Nobody in

:49:33. > :49:38.Western Europe was going to go to war over Ukraine, but we did want to

:49:39. > :49:41.signal our very strong distaste for what the Russians were doing and to

:49:42. > :49:46.signal to the Russians that the course of action would have cost for

:49:47. > :49:51.them. Economic sanctions proved to be quite an effective tool, it

:49:52. > :49:55.worked in Iran, forcing them to abandon their nuclear weapons

:49:56. > :49:59.programme, and it is piling the pressure on Vladimir Putin, but I

:50:00. > :50:02.suspect he will be feeling a bit less pressure and he will be feeling

:50:03. > :50:09.more upbeat about his prospects of eventually getting these EU

:50:10. > :50:12.sanctions watered down. Given how strongly you feel, can you not

:50:13. > :50:19.devise a way of remaining part of that? That is what we have got to

:50:20. > :50:24.do, talk to our former partners in the EU about a way forward in the

:50:25. > :50:31.future. That has got to focus mainly on the trading relationship, that is

:50:32. > :50:34.the thing that is most important to Britain's future prosperity and

:50:35. > :50:41.well-being, but also looking at ways in which we can continue to

:50:42. > :50:46.collaborate with EU partners, many of whom are Nato members, so we do

:50:47. > :50:52.have a platform here, on other issues in the future. Let's look at

:50:53. > :50:57.the EU sanctions on Russia as a sort of bellwether, we have pretty much

:50:58. > :51:01.agreed they will be rolled over in June, but the question is

:51:02. > :51:06.maintaining the robustness of this ancient regime going forward after

:51:07. > :51:10.June, and Britain's voice in that debate has been a very important one

:51:11. > :51:16.over the last 18 months. We will still be members of the EU in June,

:51:17. > :51:23.because it cannot be unscramble that quickly. We role in the sanctions

:51:24. > :51:27.over. We will remain members of the EU for at least the next two years,

:51:28. > :51:36.but nobody can imagine that our voice in the EU will carry weight as

:51:37. > :51:42.of today. We will not be in effect a party to those positions which the

:51:43. > :51:48.EU is making. Our relationship with the EU as of 6am changed

:51:49. > :51:53.fundamentally, it is now one of a semi-outsider negotiating future

:51:54. > :51:58.arrangements. We cannot expect to have a voice that carries the full

:51:59. > :52:07.weight of the second largest member state, as we had last week. Were you

:52:08. > :52:10.surprised by the result? Yes. But I won't be the first politician in

:52:11. > :52:17.history that has missed red what is going on on an election day or a

:52:18. > :52:21.referendum day. We have always been clear that we would accept the

:52:22. > :52:27.decision of the British people and we would deliver the instructions

:52:28. > :52:31.that they gave the Government. Our job now is to calm the situation,

:52:32. > :52:36.stabilise the markets, reunite the country, and then let's move forward

:52:37. > :52:42.to deliver the very best outcome we possibly can. Honestly, I believe

:52:43. > :52:46.that outcome economic league in particular will not be as good as it

:52:47. > :52:54.would have been if we had remained in the EU, but our job collectively

:52:55. > :52:57.is to make sure it is as good as it possibly can be in the

:52:58. > :53:00.circumstances, that we get the best deal we can with EE you for Britain

:53:01. > :53:14.going forward. Jeremy. A look at comparisons with 1975, the

:53:15. > :53:19.first referendum on being a member of the EU. We are in our virtual

:53:20. > :53:25.Elizabeth's tower at Westminster, the clock showing the right time.

:53:26. > :53:36.You can see the level of Euroscepticism, just above 30%, in

:53:37. > :53:42.1975. Have a look at what happens when I bring in the 2016 result. It

:53:43. > :53:47.goes above 50%, a majority in England against being part of the

:53:48. > :53:54.EU. A bigger majority than across the whole of the UK as an average.

:53:55. > :54:02.We will compare the other part of this nation. Wales in 1975, the

:54:03. > :54:10.Eurosceptic vote about 35%, but last night it went up again into a

:54:11. > :54:13.majority, about 53%. Wales and England both a bit more doubtful

:54:14. > :54:24.about the U and they were 40 years ago. A different story in Northern

:54:25. > :54:32.Ireland. More Eurosceptic than either Wales or England in 1975,

:54:33. > :54:36.nearly 50%, but now less so. They are becoming a bit more accustomed

:54:37. > :54:47.to the EU, just as we are pulling out. You know what is coming in

:54:48. > :54:54.Scotland. We go back in time. 41% wanting out in 1975, and in the last

:54:55. > :55:00.24 hours, down to about 37%. It is a divided nation. Scotland wants to

:55:01. > :55:05.stay in, England is effectively, along with Wales, pulling Scotland

:55:06. > :55:09.out. An interesting situation. Northern Ireland and Scotland have

:55:10. > :55:14.become less Eurosceptic and England and Wales more so.

:55:15. > :55:21.We are waiting to hear, sometime after 8am, from the Prime Minister

:55:22. > :55:24.at Downing Street. We don't know what he will say, we were

:55:25. > :55:27.speculating whether he would hint that he might be leaving office,

:55:28. > :55:36.maybe in the autumn, or whether he would do need -- do the

:55:37. > :55:42.negotiations. Each time I have spoken to you, you have been cut

:55:43. > :55:47.off! I have got to be cut off by the leader of my own party! Sadiq Khan

:55:48. > :55:54.said that project hate was what you were on about doing this campaign.

:55:55. > :55:58.And that it was an unpleasant, nasty campaign. He attacked Boris Johnson,

:55:59. > :56:06.but he may just as well have been attacking you. I made criticisms of

:56:07. > :56:11.campaigns on both sides. It has been difficult for people to talk about

:56:12. > :56:18.immigration in a rational, Fairway, without being accused of being some

:56:19. > :56:22.kind of closet racist. That has hurt a lot of people across the country

:56:23. > :56:30.who felt that they have not been listened to before. Where the Labour

:56:31. > :56:35.Party has failed over many years is to see that that is something that

:56:36. > :56:39.really matters to people. It is not being anti-immigration to be able to

:56:40. > :56:42.talk rationally about how you control numbers of people coming

:56:43. > :56:50.into the country. No matter how many resources go into things, we need to

:56:51. > :56:56.know, and we need to get rid of the discrimination against people from

:56:57. > :56:59.outside the EU, which is very apparent in all those countries,

:57:00. > :57:03.former Commonwealth countries, parts of Africa and Asia, where it is

:57:04. > :57:08.difficult for some buddy to come in, yet you can come in unchallenged

:57:09. > :57:16.from any of those 26 other countries. How could Labour have

:57:17. > :57:22.talked about this? It is a rule of the EU that they can do that, so the

:57:23. > :57:29.only way they could have done that is by saying they want to leave the

:57:30. > :57:33.EU. That is what the Labour Party was, a sceptic party. That changed

:57:34. > :57:35.because there was a terrible worry about what would happen under

:57:36. > :57:43.Margaret Thatcher in terms of workers' writes. But everything that

:57:44. > :57:46.we got in terms of our rights at work are enshrined in British law.

:57:47. > :57:51.The scaremongering that went on about how we would lose those if we

:57:52. > :57:54.were to leave, people waking up this morning, some people would think

:57:55. > :58:02.they have no benefits anymore, maternity rights and so on, and

:58:03. > :58:08.project fear was completely ignored by huge number is of people,

:58:09. > :58:13.especially out of London. I was around a lot out of London, it was

:58:14. > :58:16.so different. The leadership of all the parties did not seem to be

:58:17. > :58:22.listening to that. It was a very different scene outside London. I

:58:23. > :58:25.did some rallies last week in the north-east, it was so obvious that

:58:26. > :58:29.people were not going to follow the leader of the party's view, even

:58:30. > :58:36.though I believe that the leader of my party... I don't think he is

:58:37. > :58:42.desperately unhappy today. Why could you only persuade ten of your fellow

:58:43. > :58:48.MPs? It was 15 in the end. I have always said we were a minority in

:58:49. > :58:58.Parliament, but I represent, and others do, 45% of Labour voters in

:58:59. > :59:04.the country. The party was very silly not to allow a much more free

:59:05. > :59:10.view on this. The idea that they were going to say, you must vote

:59:11. > :59:16.Labour, but as you vote Labour, you must vote for the EU, it was never

:59:17. > :59:23.going to work. You say nearly half Labour voters were with you in

:59:24. > :59:29.voting to leave? All faults we did even a month ago, we had 35 to 45%

:59:30. > :59:31.of Labour supporters, and the thing that most concerns me is the people

:59:32. > :59:36.we have lost over the last few years, we will find it difficult to

:59:37. > :59:41.get them back now, because they have been ignored again by the Labour

:59:42. > :00:00.leadership. We have a quote from the president of the European Council.

:00:01. > :00:05.We have been in touch with some of the campaigns in other countries, we

:00:06. > :00:14.will see a lot of referendums now coming in. Probably Holland. On the

:00:15. > :00:19.same lines? I think it will be, in one or two of the other... Unless

:00:20. > :00:24.the EU and the other commissioners see this as a catalyst to start to

:00:25. > :00:28.change the way they work. I don't think the form is possible. Jeremy

:00:29. > :00:32.Corbyn believed it is a neoliberal organisation that is dysfunctional,

:00:33. > :00:41.but he thinks it can be reformed, but I don't. We will have the news

:00:42. > :00:49.again, and the weather. All important.

:00:50. > :00:52.Good morning. Britain is to leave the EU, the official was all of the

:00:53. > :00:58.referendum was announced in the past hour. North-eastern England and the

:00:59. > :01:01.Midlands voted strongly to leave, but the Remain campaign when a

:01:02. > :01:07.majority in Scotland and Northern Ireland.

:01:08. > :01:12.Well, at 20 minutes to five, we can now say the decision taken

:01:13. > :01:15.in 1975 by this country to join the Common market has been reversed

:01:16. > :01:22.We are absolutely clear now that there is no way

:01:23. > :01:30.Watch and listen carefully - this is history in the making...

:01:31. > :01:33.The British people have spoken, and the answer is, we are out.

:01:34. > :01:36.And these were the celebrations just moments before the BBC

:01:37. > :02:01.In the last hour, the official result. The total in favour of Leave

:02:02. > :02:05.was... A final tally of 52% to 48%. Ukip celebrated overnight. By

:02:06. > :02:13.daylight, things were sinking in. Good morning, everybody. The sun has

:02:14. > :02:19.risen on an independent United Kingdom. And just look at it, even

:02:20. > :02:22.the weather has improved. As Leave campaigners celebrated, on the other

:02:23. > :02:26.side, the blame game started. I absolutely accuse Jeremy Corbyn and

:02:27. > :02:31.the Labour leadership of utter spinelessness in not involved in

:02:32. > :02:35.this campaign for Britain Britain's very soul and future. The Labour

:02:36. > :02:40.leader said he accepted the decision, adding that there was a

:02:41. > :02:45.clear message from the result. Many communities are fed up with cuts

:02:46. > :02:48.they have had, fed up with economic dislocation and feel very angry at

:02:49. > :02:52.the way they have been betrayed and marginalised by successive

:02:53. > :02:57.governments in very poor areas of the country. And with the pound

:02:58. > :03:05.plunging, Remain campaigners warned of turmoil ahead. This is a seismic

:03:06. > :03:07.moment for our country. It goes far beyond all the personalities. There

:03:08. > :03:12.will be a lot of chat about David Cameron. This is a big thing for our

:03:13. > :03:17.country. It has exposed a lot of division. There is talk as if this

:03:18. > :03:20.is an overwhelming win. It isn't. 48% of people on the current

:03:21. > :03:25.projection did not vote for this. But this prominent Leave campaigners

:03:26. > :03:29.called for cross-party co-operation. We have a responsibility to act in

:03:30. > :03:36.the best long-term interests of this country. Voters will now reflect on

:03:37. > :03:39.their verdict. The instruction they have given to Westminster. But the

:03:40. > :03:48.magnitude of this moment may only become clear in the weeks and months

:03:49. > :03:52.ahead. The result has affected the financial markets, with the pound

:03:53. > :03:59.falling to its lowest point since 1985. When the polls closed, it

:04:00. > :04:04.rose, but as the Leave result became clear, it began to plummet. The Bank

:04:05. > :04:08.of England says it is monitoring developments closely. Scotland's

:04:09. > :04:10.First Minister has suggested that the Leave vote will reignite demands

:04:11. > :04:23.for an independence referendum there. All 32 Scottish local

:04:24. > :04:27.authorities returned verdicts for Remain. We will go back to the

:04:28. > :04:36.results programme in a moment. First, the weather, with Carol. Good

:04:37. > :04:39.morning. Today, pollen levels are high or very high, except for

:04:40. > :04:46.northern Scotland, where they are moderate. You will be hugely unlucky

:04:47. > :04:52.if you catch a shower today in these areas. However, a cross Scotland,

:04:53. > :04:56.Wales and Northern Ireland, there will be a plethora of showers. Some

:04:57. > :05:04.of them will be thundery, with some hail. Northern Ireland will have

:05:05. > :05:07.that mixture of sunshine and showers. There will be lengthy

:05:08. > :05:14.spells of sunshine in the south-west of England. Showers in the Midlands,

:05:15. > :05:17.but dry with some sunshine in Kent and also in East Anglia and the

:05:18. > :05:22.south-east. Heading through the evening and overnight, many of the

:05:23. > :05:26.showers will fade, but they will continue across the north and the

:05:27. > :05:31.west. We will have some clear skies, but it is not going to be a cold

:05:32. > :05:35.night. Most of the UK will stay in double figures. That is how we start

:05:36. > :05:39.the day tomorrow. Tomorrow, once again, we are looking at a mixture

:05:40. > :05:43.of sunshine and showers. But the distribution of the showers will be

:05:44. > :05:47.slightly different. We will have fewer showers in the north and west

:05:48. > :05:51.and more across central and eastern parts, and some of those will be

:05:52. > :05:56.heavy and thundery. In between them, there will be some sunshine. On

:05:57. > :06:03.Sunday, we have got a weather front coming in from the Atlantic. That's

:06:04. > :08:06.going to introduced some rain. It will be moving slowly eastwards as

:08:07. > :08:29.Hello again. We're going to be joined by somebody who is now very

:08:30. > :08:33.important for the Conservative Party in all of these discussions which

:08:34. > :08:39.will be taking place. Graham Brady, who is the chairman of the powerful

:08:40. > :08:46.1922 Committee. He was in favour of Brexit, and he has got Brexit. Mr

:08:47. > :08:51.Brady, first question - have you, as some people say, got 50 letters in

:08:52. > :08:55.your pocket or in your office, readily signed, wanting a leadership

:08:56. > :09:01.contest right away? No, I can knock that on the head straightaway. The

:09:02. > :09:05.procedures are very simple, they're set out in the course to juicing of

:09:06. > :09:09.the Conservative Party. If that were to be the case, then I would have

:09:10. > :09:13.had to communicate that to the Prime Minister already and we would have

:09:14. > :09:18.begun a process for a confidence vote. So I can clearly say, no, I

:09:19. > :09:22.have not got 50 letters. Furthermore, my own personal view is

:09:23. > :09:27.that it is very important that David Cameron remains in post, in office,

:09:28. > :09:31.and continues to steer the course, now that we have this very clear

:09:32. > :09:38.result from the people. So how long? That is a matter for him. Hang on,

:09:39. > :09:44.it is not a matter for him, it is a matter for you pass EU the party and

:09:45. > :09:49.you can decide, as you have just said. I think the really important

:09:50. > :09:53.thing in the moment is that we have got a clear steer from the British

:09:54. > :09:56.public, they would like to restore the position where we can make our

:09:57. > :10:01.own laws and set our own taxes and control our own borders. We know

:10:02. > :10:04.what we have to do, but it is a difficult, complicated thing to

:10:05. > :10:08.achieve. It will take a period of time. And I think it is the real

:10:09. > :10:12.important that we have continuity and stability. And I think that

:10:13. > :10:15.David Cameron remaining in office is really crucial. We need to settle

:10:16. > :10:19.the markets over the coming days, and we need to move forward to a

:10:20. > :10:27.credible plan for implementing the will of the people. How easy will it

:10:28. > :10:32.be for him to, put it this way, eat humble pie, except that he has lost,

:10:33. > :10:37.and then suddenly turn around and adopt the opinions of the other

:10:38. > :10:42.side? Well, I think we have to remember that David Cameron

:10:43. > :10:44.delivered a referendum. It is implicit in holding a referendum of

:10:45. > :10:50.this sort that you have to accept the will of the people at the end of

:10:51. > :10:53.it. He made it clear before the result was known that he would

:10:54. > :10:59.continue in office, whatever the outcome. So I think it is obviously

:11:00. > :11:03.his intention, and obviously the right thing for the country. We need

:11:04. > :11:11.a period of stability and continuity. It is quite front,

:11:12. > :11:17.though. In 1975, which I had the good fortune to cover, Harold Wilson

:11:18. > :11:23.did not do that. He stood back and let his cabinet ministers fight it

:11:24. > :11:25.out. David Cameron has been at the front of the campaign. He gave a

:11:26. > :11:31.special press conference on the roof, he has paint -- he has been

:11:32. > :11:36.campaigning all the way through. It is not like Harold Wilson, it is

:11:37. > :11:41.more like fighting a general election and losing, isn't it? Well,

:11:42. > :11:44.I think it would have been better had the Prime Minister remained

:11:45. > :11:47.above the fray throughout the campaign. He chose not to, but it

:11:48. > :11:53.was clear throughout that whatever the outcome, he would remain Prime

:11:54. > :12:03.Minister. I think what we have seen in this result, of 52-48, is clear

:12:04. > :12:08.enough as it is. But I think there is something even more important, if

:12:09. > :12:12.you contrast this to 1975, which is that the clear, overwhelming

:12:13. > :12:18.inclination of the British people was to be free from the political

:12:19. > :12:23.union of the EU. And I think it was really a matter for the vast

:12:24. > :12:38.majority of the public, either they were enthusiastic Brexiters or they

:12:39. > :12:43.were reluctant Remainers. We can go down to Schroders and join Simon

:12:44. > :12:52.Jack, who has news about the start of trading. What is the news? Yes,

:12:53. > :12:58.well, you can conjecture about the future. Here and now, the FTSE-100

:12:59. > :13:03.opened a few moments ago. It is down 500 points already, that's a .5%.

:13:04. > :13:07.Hardly surprising after the record fall in Stirling we saw overnight.

:13:08. > :13:12.Some of the big people getting really hit our house builders and

:13:13. > :13:17.banks. Barclays is down 35% this morning in early trading. Some of

:13:18. > :13:22.the house-builders down 40%. There are fears that this could hit the

:13:23. > :13:25.property market. Some really, really severe pounding is being taken by

:13:26. > :13:32.some of the shares. It has found a level. Stirling has gone up a bit

:13:33. > :13:36.since it fell 10% overnight. But some really big moves, financial

:13:37. > :13:42.shock waves being felt throughout the City. -- sterling. In your

:13:43. > :13:47.experience, is it the kind of thing which will bounce back in a couple

:13:48. > :13:51.of days? I think with the banks, the Bank of England will come out and

:13:52. > :13:54.say, we stand ready to do this, we knew there might be some shock waves

:13:55. > :13:58.if we got this result, so we are there to make sure this does not

:13:59. > :14:02.turn into anything nastier. As for house-builders, this will be a real

:14:03. > :14:06.blow to confidence. Whenever you think about the property market

:14:07. > :14:15.perhaps being affect the, the banks and perhaps house-builders get hit

:14:16. > :14:19.first. They do tend to bounce back in time. But I think that losses of

:14:20. > :14:24.that magnitude really illustrate just how powerful the shock waves

:14:25. > :14:28.are which are being felt in the City for there was this nagging feeling

:14:29. > :14:33.going into the referendum - who has got this right? Is it the City or is

:14:34. > :14:36.it the polls? The City was rather complacently, the pound was riding

:14:37. > :14:40.high until midnight last night. And then it turned out the polls Welbeck

:14:41. > :14:43.tick and the City was wrong. There was an almighty beckoning on

:14:44. > :14:48.sterling overnight, when it fell twice as much as it did on Black

:14:49. > :14:52.Wednesday in 1992. That is having reverberations on the markets in

:14:53. > :14:58.Asia. The FTSE-100 as a whole, which has lots of international companies,

:14:59. > :15:05.is down 8.5%. You go below that, to the FTSE 250, that is down 12.5%.

:15:06. > :15:06.And the ones in the firing line for economic shocks, the banks, are down

:15:07. > :15:19.in some cases by 35%. The waiting for the Prime Minister,

:15:20. > :15:22.is about to come out. The podium is being put out, this is not confirmed

:15:23. > :15:29.by any stretch, but there is a rumour that when David Cameron comes

:15:30. > :15:36.out, he may be going to resign as Prime Minister after six years. I

:15:37. > :15:39.must stress it is by not -- not by any stretch a confirmation, but up

:15:40. > :15:47.and down the press pack that suggestion is now being made. David

:15:48. > :15:52.Cameron, his first priority will be to urge stability in the wake of

:15:53. > :15:57.this tumultuous result, the result that means a very significant defeat

:15:58. > :16:04.for him, a drain on his authority, senior Tories have said that they

:16:05. > :16:08.don't believe he has to go, but it sounds as if he has made that

:16:09. > :16:12.personal calculation that it might be the right thing for him to do

:16:13. > :16:18.that. I must stress that is not confirmed by any stretch, at the

:16:19. > :16:21.suggestion, as these things often happen, the rumour swelled up and

:16:22. > :16:27.down Downing Street on a morning such as this, David Cameron may be

:16:28. > :16:33.about to announce he is leaving office. But I hate to sound as if I

:16:34. > :16:37.am adding all sorts of caveats, but we can't be clear on that yet. We

:16:38. > :16:47.will hear from the horse's mouth in a moment. What did you think he will

:16:48. > :16:55.do? I think... I voted for Ken. I am a late, to the David Cameron camp. I

:16:56. > :17:00.think he has been an outstanding leader, Cameron, he has been a great

:17:01. > :17:06.Prime Minister. It is a devastating blow to him. It is a devastating

:17:07. > :17:10.blow to our country. There are a lot of people waking up, most of my

:17:11. > :17:17.friends are not politicians, I lead a fairly normal life, I am an East

:17:18. > :17:23.Midlands girl, I have seen and heard stuff I have not heard since I was a

:17:24. > :17:28.student back in the late 70s, people thinking it is acceptable not only

:17:29. > :17:37.to shake trait -- to shout traitor, but to say, I am voting out because

:17:38. > :17:41.I want the criticisms -- I want the immigrants out. We have unleashed

:17:42. > :17:47.something. I heard Chuka Umunna talking about the need to repair,

:17:48. > :17:52.and he is right. That over line tolerance of Britain has been

:17:53. > :17:57.removed from large sections. If you look at the vote, it has to be said

:17:58. > :18:04.that there has been a large vote from white working-class Labour

:18:05. > :18:07.areas. They have voted in the face of the fact that they have never

:18:08. > :18:13.seen a migrant, but it is the fault of politicians, because you for

:18:14. > :18:18.decades say that the EU is rubbish and the root of many concerns and

:18:19. > :18:23.say that migrants need controlling, as opposed to saying how much they

:18:24. > :18:28.contribute, and then say, actually, in four and half months, not only

:18:29. > :18:33.ignore what we have told you... I have always been in favour of us

:18:34. > :18:37.staying in, but then say, not only do you accept the opposite from what

:18:38. > :18:41.we have said, but go out and vote for it. We can't be surprised at

:18:42. > :18:52.this. The Prime Minister is coming out. With his wife beside him. That

:18:53. > :18:57.suggests a personal statement. A giant democratic exercise, perhaps

:18:58. > :19:02.the biggest in our history. Over 33 million people from England,

:19:03. > :19:06.Scotland, Wales Northern Ireland and Gibraltar have all had their say. We

:19:07. > :19:11.should be proud of the fact that in these islands we trust the people

:19:12. > :19:16.with these big decisions. We not only have a parliamentary democracy,

:19:17. > :19:19.but on questions about the arrangements for how we are

:19:20. > :19:23.governed, there are times when it is right to ask the people themselves,

:19:24. > :19:27.and that is what we have done. The British people have voted to leave

:19:28. > :19:32.the European Union, and there will must be respected. I want to thank

:19:33. > :19:37.everybody who took part in the campaign on my side of the argument,

:19:38. > :19:41.including all those who put aside party differences to speak in what

:19:42. > :19:48.they believed was the national interest. Let me congratulate all

:19:49. > :19:52.those who took part in the Leave campaign, for the spirited and

:19:53. > :19:56.passionate case they made. The will of the richest people is an

:19:57. > :20:03.instruction that must be delivered. -- of the British people. It was not

:20:04. > :20:05.taken lightly, so many things were said by so many different

:20:06. > :20:12.organisations about the significance of this decision. There can be no

:20:13. > :20:17.doubt about the result. Across the world, people have been watching the

:20:18. > :20:21.choice that Britain has made. I would reassure those markets and

:20:22. > :20:27.investors that Britain's economy is fundamentally strong. I would also

:20:28. > :20:31.reassure Brits living in European countries and European citizens

:20:32. > :20:35.living here that there will be no immediate changes in your

:20:36. > :20:39.circumstances. There will be no initial change in the way our people

:20:40. > :20:45.can travel in the way our goods can move or in the way our services can

:20:46. > :20:50.be sold. We must now prepare for a negotiation with the European Union.

:20:51. > :20:55.This will need to involve the full engagement of the Scottish, Welsh

:20:56. > :20:59.and Northern Ireland Government. To ensure the interests of all parts of

:21:00. > :21:05.our United Kingdom are protected and advanced. Above all, this will

:21:06. > :21:11.require strong, determined and committed leadership. I am very

:21:12. > :21:14.proud and honoured to have been Prime Minister of this country for

:21:15. > :21:20.six years. I believe we have made great steps, with more people in

:21:21. > :21:25.work than ever before in our history, with reforms to welfare and

:21:26. > :21:29.education, increasing people's life chances, building a bigger and

:21:30. > :21:32.stronger society, keeping our promises to the poorest people in

:21:33. > :21:37.the world, and enabling those who love each other to get married,

:21:38. > :21:43.whatever their sexuality. But above all, restoring Britain's economic

:21:44. > :21:47.strength. I am grateful to everybody who has helped make that happen. I

:21:48. > :21:52.have also always believed that we have to confront big decisions, not

:21:53. > :21:57.duck them. That is why we delivered the first Coalition Government in 70

:21:58. > :22:03.years to bring our economy back from the brink. That is why we delivered

:22:04. > :22:08.a fair legal and decisive referendum in Scotland. It is why I made the

:22:09. > :22:11.pledge to renegotiate Britain's position in the European Union and

:22:12. > :22:15.to hold a referendum on our membership, and have carried those

:22:16. > :22:20.things out. I thought this campaign in the only way I know how, which is

:22:21. > :22:29.to say directly and passionately what I think and feel, head, heart

:22:30. > :22:34.and soul. I held nothing back. I was absolutely clear about my belief

:22:35. > :22:37.that Britain is stronger, safer and better off inside the European

:22:38. > :22:42.Union. I made clear the referendum was about this and this alone, not

:22:43. > :22:48.the future of any single politician, including myself. But the British

:22:49. > :22:53.people have made a very clear decision to take a different path,

:22:54. > :22:58.and as such, I think the country requires fresh leadership to take it

:22:59. > :23:02.in this direction. I will do everything I can as Prime Minister

:23:03. > :23:07.to steady the ship over the coming weeks and months, but I do not think

:23:08. > :23:12.it would be right for me to try to be the captain that steers our

:23:13. > :23:15.captain -- our country to its next destination. This is not a decision

:23:16. > :23:19.I have taken lightly, but I do believe it is in the national

:23:20. > :23:23.interest to have a period of stability and then the new

:23:24. > :23:27.leadership required. There is no need for a precise timetable today,

:23:28. > :23:31.but in my view we should aim to have a new Prime Minister in place by the

:23:32. > :23:36.start of the Conservative Party conference in October. Delivering

:23:37. > :23:40.stability will be important, and I will continue in post as Prime

:23:41. > :23:45.Minister with my cabinet for the next three months. The Cabinet will

:23:46. > :23:48.meet on Monday, the governor of the Bank of England is making a

:23:49. > :23:53.statement about the steps that the bank and the Treasury are taking to

:23:54. > :23:56.reassure financial markets. We would also continue taking forward the

:23:57. > :24:00.important legislation that we said before Parliament in the Queen's

:24:01. > :24:03.Speech, and I have spoken to Her Majesty The Queen this morning to

:24:04. > :24:08.advise her of the step that I am taking. A negotiation with the

:24:09. > :24:13.European Union will need to begin under a new Prime Minister. I think

:24:14. > :24:17.it is right that this Prime Minister takes the decision about when to

:24:18. > :24:24.trigger Article 50 and start the formal and legal process of leaving

:24:25. > :24:27.the EU. I will attend the European Council next week to explain the

:24:28. > :24:32.decision the British people have taken and my own decision. The

:24:33. > :24:37.British people have made a choice, that not only needs to be respected,

:24:38. > :24:44.but those on the losing side of the argument, myself included, should

:24:45. > :24:48.help to make it work. Britain is a special country, we have so many

:24:49. > :24:51.great advantages, a parliamentary democracy where we resolve great

:24:52. > :24:59.issues about our future through peaceful debate, a great trading

:25:00. > :25:03.nation with our science and arts our engineering and creativity respected

:25:04. > :25:07.the world over, and while we are not perfect, I believe we can be a model

:25:08. > :25:11.of a multiracial, multi-faith democracy, where people can make a

:25:12. > :25:15.contribution and rise to the very highest that their talent allows.

:25:16. > :25:19.Although leaving Europe was not the path I recommended, I am the first

:25:20. > :25:25.to praise our incredible strength is. I have said before that Britain

:25:26. > :25:30.can survive outside the European Union, and indeed that we could find

:25:31. > :25:35.a way. Now the decision has been made to leave, we need to find the

:25:36. > :25:42.best way. I will do everything I can to help. I love this country, and I

:25:43. > :25:46.feel honoured to have served it. I will do everything I can in future

:25:47. > :25:53.to help this great country succeed. Thank you very much.

:25:54. > :25:57.The Prime Minister with Samantha. His voice breaking as he said those

:25:58. > :26:03.last words, announcing he would stand down and they needed a new

:26:04. > :26:09.leader, a new Prime Minister by October, and only then would

:26:10. > :26:14.negotiations begin with the EE you. He said he had been head, heart and

:26:15. > :26:19.soul, held nothing back, in his belief Britain was safer inside the

:26:20. > :26:24.EU, but it. The future of politicians that was at stake, and

:26:25. > :26:28.the country had decided what they had decided, and he would go along

:26:29. > :26:32.with it. The Prime Minister has in effect stood down, but not for

:26:33. > :26:37.another three months, it'll the Conservative Party conference. What

:26:38. > :26:45.is your immediate reaction? I think it is terrible. Terribly sad.

:26:46. > :26:51.Truthfully, he had no alternative. I hope he will be remembered... This

:26:52. > :26:58.is a true body blow. He led from the front. He has shown this beautiful

:26:59. > :27:03.composure, this remarkable leadership, this great courage, to

:27:04. > :27:10.admit, I put my neck on the line, and here we are. His testimony will

:27:11. > :27:15.be same-sex marriage, trying to do the best for poor people at home and

:27:16. > :27:23.abroad, he has been a remarkable Prime Minister, and I hope this will

:27:24. > :27:27.not cloud our memory of him. We are now faced with a leadership battle

:27:28. > :27:30.between now and October, and according to the Prime Minister,

:27:31. > :27:41.before negotiations can begin with the EU. Yes, we are. Three very big

:27:42. > :27:44.headlines. The first that the Prime Minister has decided he has no

:27:45. > :27:49.option but to walk out of Downing Street, to leave this place, where

:27:50. > :27:54.he has been in charge for six years, the ultimate irony that the younger,

:27:55. > :27:58.freshfaced Tory leader who told his party to stop banging on about

:27:59. > :28:02.Europe made a decision to hold a referendum to bang on about Europe

:28:03. > :28:07.himself, which has ultimately cost him his job. His closest colleagues

:28:08. > :28:10.have always called him a lucky politician, but on this alternate

:28:11. > :28:18.gamble, his luck has dramatically run out. He was very clear, and this

:28:19. > :28:21.was part of his decision, that triggering article 50, the beginning

:28:22. > :28:27.of those vital negotiations with other countries in the EU, should be

:28:28. > :28:30.done under a new Prime Minister, under new leadership, and that in

:28:31. > :28:35.his view cannot therefore start until the Tory party conference in

:28:36. > :28:41.October. Article 50 will not be triggered immediately. This morning

:28:42. > :28:44.he is saying to think the polar opposite of what he said repeatedly

:28:45. > :28:48.in the campaign will stop the repeatedly said he would not have to

:28:49. > :28:54.resign if he lost and that is Prime Minister he would trigger that

:28:55. > :28:59.Article 50, those negotiations, immediately. On both of those

:29:00. > :29:04.things, after the result, his calculations have completely

:29:05. > :29:08.changed. How effective can he be? There will be a battle going on in

:29:09. > :29:14.the party over who is to succeed him. However active can he be at

:29:15. > :29:17.doing everything to steady the ship? He said he is not the captain to

:29:18. > :29:24.lead the ship to the next test the nation. It is extremely difficult.

:29:25. > :29:28.Authority has drained away from him overnight. It will be very difficult

:29:29. > :29:33.to see what kind of influence he can have now over domestic policy or

:29:34. > :29:39.handling those relations around the EU. There is a European summit next

:29:40. > :29:43.week in Brussels, he said he would still go and explain his decision,

:29:44. > :29:47.and have to explain this referendum result to those other European

:29:48. > :29:52.leaders with whom he has dealt for many years, but you are right, this

:29:53. > :29:57.means that for the Conservative Party the focus will move to who is

:29:58. > :30:01.going to succeed him. Frankly, the entire referendum campaign has been

:30:02. > :30:08.laced through with Tory leadership ambition. We have all talked

:30:09. > :30:13.incessantly, cassette has been part of this story, about people's

:30:14. > :30:16.decisions, which campaigned to go for, did Boris Johnson jump because

:30:17. > :30:21.of his ambition? What about Michael Gove? He has now become a better

:30:22. > :30:27.known figure in the party because of his decision. It seems clear to me

:30:28. > :30:31.that for people who are interested in the top job, we know who they

:30:32. > :30:35.are, their focus now will not be nations with the EU, they will be

:30:36. > :30:38.the Tory leadership battle, and battle will have already commenced.

:30:39. > :30:41.There have been discussions among some of the people who fancy their

:30:42. > :30:53.chances about the best way forward already.

:30:54. > :31:00.On that point, if you have got candidates - Michael Gove, Boris

:31:01. > :31:05.Johnson, possibly Theresa May, will this process actually start soon? I

:31:06. > :31:10.mean, they have to have this vote among MPs and then take two

:31:11. > :31:14.candidates out to the Conservative Party and the country, when would

:31:15. > :31:19.you expect that all to happen? I think probably pretty soon. The

:31:20. > :31:23.Parliamentary term is due to run for another four weeks. For many Tory

:31:24. > :31:28.MPs, that period will be all about whose names get onto that final

:31:29. > :31:31.ballot. Very briefly, unlike the Labour Party, essentially, Tory MPs

:31:32. > :31:36.decide who, from quite a wide field, debts down to two places on the

:31:37. > :31:41.ballot paper. So, Tory party members only have a choice between two

:31:42. > :31:45.candidates. So there will be now frantic wheeling and dealing behind

:31:46. > :31:51.closed doors among the Conservative Parliamentary party. And think of

:31:52. > :31:55.this, too. The Tory party membership, which only numbers about

:31:56. > :31:59.150,000 people, are going to choose our next Prime Minister. There is

:32:00. > :32:03.also speculation of course this morning in Westminster about an

:32:04. > :32:07.early election, because of what has happened, and how this result has

:32:08. > :32:10.upended politics. That has got to be more likely, if you think that the

:32:11. > :32:15.next Prime Minister will be chosen by a vote of 150,000 people. And

:32:16. > :32:19.especially while Jeremy Corbyn is still in place in the Labour Party,

:32:20. > :32:23.who most conservatives assume they would beat quite easily in an

:32:24. > :32:27.election, that is their view, there would of course be a temptation for

:32:28. > :32:31.whoever becomes the Tory leader, the next Prime Minister, to call for an

:32:32. > :32:35.early election. So not only do we have the prospect of a new Prime

:32:36. > :32:38.Minister, but and increasingly likely prospect of an early

:32:39. > :32:42.election, too. Gordon Brown was criticised for not calling an

:32:43. > :32:46.election after he became Prime Minister. People view the Prime

:32:47. > :32:51.Minister now as the elected person at an election, not as somebody who

:32:52. > :32:55.you change at will. So there would be pressure to have an early

:32:56. > :32:58.election, no doubt. What about the Chancellor of the Exchequer? If we

:32:59. > :33:04.are talking about a steady ship, does that mean George Osborne stays

:33:05. > :33:07.in place for the time being? I think for the time being you would expect

:33:08. > :33:11.that. But as David Cameron has basically said, he will be gone

:33:12. > :33:14.within three months, I think the widespread assumption would be that

:33:15. > :33:19.George Osborne would go at that point, too. George Osborne for a

:33:20. > :33:28.long time has been seen as really joined at the hip, some people even

:33:29. > :33:31.call it the Camborne project. In the early days of their leadership,

:33:32. > :33:35.their joint leadership, almost, when they were young bucks who surprised

:33:36. > :33:38.everybody by taking over the Conservative Party when they were

:33:39. > :33:43.comparatively young. George Osborne was the youngest Chancellor for

:33:44. > :33:46.decades. But most people would now assume that as David Cameron has

:33:47. > :33:50.been defeated and snubbed, the public have overturned him, that

:33:51. > :33:54.that will also apply to George Osborne, who has had a particularly

:33:55. > :34:00.bruising six months or so. A budget which unravelled, a strategy in his

:34:01. > :34:05.campaign which has been rubbished by many Conservative MPs, dozens of

:34:06. > :34:10.them going on the record to say that his position would be untenable if

:34:11. > :34:14.Brexit was to happen which was essentially a coup in waiting. I

:34:15. > :34:19.think further run it means that in this Tory leadership contest, George

:34:20. > :34:22.Osborne's chances are pretty slim. And frankly, he is a cunning

:34:23. > :34:27.politician, he will not run unless he thinks he has got a chance of

:34:28. > :34:31.winning. As feels this morning, it is pretty unlikely that his name

:34:32. > :34:35.would be on the ballot paper. And that is surprising, given that for

:34:36. > :34:38.so long in Westminster, he was seen by a lot of people loyal to the

:34:39. > :34:45.government and the Tory party as the heir apparent. Thank you very much.

:34:46. > :34:49.So, the news that David Cameron has said he will do everything to steady

:34:50. > :34:53.the ship for the time being, but that he is not the captain to take

:34:54. > :34:57.tenure to its next destination. He believes that by October, there

:34:58. > :35:02.should be a new leader. He has in effect triggered a leadership race.

:35:03. > :35:06.He's going to stand down. They need a new leader by October. He has told

:35:07. > :35:12.the Queen, he said. Negotiations about a new Prime Minister will

:35:13. > :35:17.start, and he does not believe that the negotiations with the EU, the

:35:18. > :35:21.triggering of article 50, which says in effect, we want to leave and we

:35:22. > :35:25.have two years to discuss it, he does not believe that should happen

:35:26. > :35:29.right away. Contrary to what he said during the campaign, he believes it

:35:30. > :35:34.should wait until the new Prime Minister gets in place. Then there

:35:35. > :35:37.is the argument about whether the new Prime Minister will have the

:35:38. > :35:43.authority to do it without having a general election. It is the

:35:44. > :35:47.breathtaking speed with which these things happen. I am joined by Isabel

:35:48. > :35:51.Hardman and Andrew Walmsley, who have been with us at intervals

:35:52. > :35:54.during the night. To see the image of Downing Street deserted, the

:35:55. > :36:01.running on College Green towards, who are we expect in, Boris...? If

:36:02. > :36:05.we think, just over a year ago, David Cameron was standing outside

:36:06. > :36:10.No 10 celebrating a general election victory which most people, including

:36:11. > :36:13.himself, had not seen coming, and being the first Conservative leader

:36:14. > :36:17.to win a Parliamentary majority since 1992. Slightly over a year

:36:18. > :36:23.later, he is having to announce his resignation, and I think rightly so,

:36:24. > :36:27.because in the end, he's picked this referendum. He dictated the timing.

:36:28. > :36:31.He was the chief advocate for his side of the campaign, and it would

:36:32. > :36:34.not be credible in the end, when he had told the country this decision

:36:35. > :36:38.was more important than a general election. Well, if you lose a

:36:39. > :36:42.general election, you have to walk out of No 10. If you lose a

:36:43. > :36:48.referendum, you're going to have to do the same. His party were in not

:36:49. > :36:54.going to trust him to do the Brexit negotiation. And how would he look

:36:55. > :36:58.his European peer group in the eye, having had this happen? It was not

:36:59. > :37:04.credible. So he has made inevitably the big decision. And at that point,

:37:05. > :37:08.many in the Boris Johnson camp felt miffed that he had got in there and

:37:09. > :37:14.got this first Conservative majority for 27 years - it is very hard, even

:37:15. > :37:18.though this is immense, it is huge, it is a seismic, but when you look

:37:19. > :37:24.at it through the prism of British men who have been long-time rivals,

:37:25. > :37:27.it is intensely personal? The Boris-Cameron psychodrama has been

:37:28. > :37:31.going on for years and it looks as though Boris has finally won that.

:37:32. > :37:35.We do not know whether he will win the Tory leadership. He has raised

:37:36. > :37:39.his standing in the Parliamentary party during the campaign. A lot of

:37:40. > :37:43.Conservative MPs backed Brexit. He kept his cool during the TV debates

:37:44. > :37:50.when he was being attacked, in a real onslaught during that TV

:37:51. > :37:54.debate, not rising to the bait. He now has to build his standing

:37:55. > :38:00.amongst Conservative MPs. He knows he is popular with the party but he

:38:01. > :38:04.needs to get to that final two. I think we should hang onto the

:38:05. > :38:08.thought that most Britain, at least witnessed by the last general

:38:09. > :38:13.election, is not Conservative. Quite a big problem with the referendum

:38:14. > :38:17.campaign itself, perhaps, that it was all a Tory psychodrama and

:38:18. > :38:21.treated as such - you know, we are talking about Britain's future. It

:38:22. > :38:24.should be a bit more important than some projection of a schoolboy

:38:25. > :38:33.rivalry onto the national stage. Ruth Davidson has spoken in the last

:38:34. > :38:36.few moments. She has told us already this evening that the Tory party

:38:37. > :38:45.will stay together. And now she has said... But Isabel Hardman, your

:38:46. > :38:49.sense is that she has already ruled herself out of being a future

:38:50. > :38:53.leader, even with the complications that she would have to jump over to

:38:54. > :38:56.get there in Parliamentary terms? I think with Davidson will be a

:38:57. > :39:01.kingmaker in the Tory leadership contest. She is hugely popular in

:39:02. > :39:04.the Conservative Party and in the media. People listen when she

:39:05. > :39:07.intervenes. I do not get the sense that she wants to be the

:39:08. > :39:11.Conservative Party leader. She has already named Stephen Crabb as her

:39:12. > :39:18.candidate. Who came in to replace Iain Duncan Smith. But unfortunately

:39:19. > :39:22.for him, he campaigned for Remain so, that will be a black mark

:39:23. > :39:28.against him. So we are looking at a Brexit leader as Prime Minister,

:39:29. > :39:36.without a shadow of a doubt? Yes. I would be amazed if it was anything

:39:37. > :39:39.else. Theresa May did stay quiet during the campaign, but I don't

:39:40. > :39:42.think she has got enough standing in the Parliamentary party anyway. I

:39:43. > :39:46.think somebody very popular could have stayed quiet and potentially

:39:47. > :39:50.had a chance, but not Theresa May. I asked you over night how many party

:39:51. > :39:54.leaders you thought would go by the end of the week. There are now

:39:55. > :39:59.rumours among backbench Labour MPs that they might mount a challenge

:40:00. > :40:04.against Jeremy Corbyn. By the end of the week?! That could happen by the

:40:05. > :40:09.end of today? There is no doubt, there are a lot of Labour MPs who

:40:10. > :40:14.are incandescent have look at what happened to them Labour heartlands,

:40:15. > :40:16.and yes, quite a lot of them are blaming Jeremy Corbyn. I would

:40:17. > :40:22.imagine Jeremy Corbyn supporters will reply, this is David Cameron's

:40:23. > :40:28.fault, let's not lose sight of that. Jeremy Corbyn did not call this. The

:40:29. > :40:34.Catch-22 is still there - if Jeremy Corbyn were to be really did buy the

:40:35. > :40:37.Labour members, or that looked likely, would it be wise to make an

:40:38. > :40:41.attempt against him? And we have to ask ourselves, can British politics

:40:42. > :40:48.cope with two leadership crises simultaneously? There is real anger

:40:49. > :40:51.in the Labour Party. I think if there is enough chaos in the Labour

:40:52. > :40:55.Party, even those who do not necessarily want to get rid of

:40:56. > :40:59.Corbyn, may think they have to get rid of him in order to stop the

:41:00. > :41:03.chaos. We will be back. I know we are expecting Boris Johnson, so

:41:04. > :41:08.David, perhaps you should pick up from here? Thank you very much,

:41:09. > :41:12.Emily. I don't know whether we are expect in Boris Johnson. We are

:41:13. > :41:16.hoping to have a word with Peter Mandelson. And we have been joined

:41:17. > :41:20.by Lord Tebbit, one of the elder statesman of the Conservative Party.

:41:21. > :41:25.What do you make of all of this? It is a bit of dogs dinner, isn't it? I

:41:26. > :41:29.think the decision is the right incision which the people of the

:41:30. > :41:36.country have taken, to leave the European Union. But it has led to an

:41:37. > :41:41.awful lot of confusion, hasn't it? And the markets seem to have fallen

:41:42. > :41:46.through the floor, and the pound. Kamal Ahmed is saying, it will not

:41:47. > :41:54.hit up for a long time. Well, we will see. Project Fear has become

:41:55. > :41:57.project reality. Excuse me, my dear. If these boys knew which way the

:41:58. > :42:02.market was going, they would be much richer than they are. I'm going to

:42:03. > :42:07.bring in Peter Mandelson. Rather frowning at us, but I think it is

:42:08. > :42:12.only because it is not quite clear... Good morning, what do you

:42:13. > :42:15.make of what has happened? You were vehemently in favour of Britain

:42:16. > :42:19.staying in the EU. What is your reaction to the news of the Prime

:42:20. > :42:21.Minister going and everything else that has happened? I think Mr

:42:22. > :42:28.Cameron's announcement is entirely inevitable. He did it with his usual

:42:29. > :42:33.grace and elegance and composure. He looks and sounds like the Prime

:42:34. > :42:38.Minister, but I'm afraid that is no longer enough. What has happened, in

:42:39. > :42:42.losing the referendum, he has seen his entire political project in the

:42:43. > :42:48.Conservative Party defeated. He wanted to turn it into a less nasty,

:42:49. > :42:58.more socially tolerant, Liberal Party. And he made great headway in

:42:59. > :43:01.that. But I'm afraid but those who chose as their instrument of revenge

:43:02. > :43:07.against him this referendum have won the day. The right wing now have the

:43:08. > :43:10.other hand, and that is the direction in which the Conservative

:43:11. > :43:14.Party is now going to go. Lord Tebbit, do you agree with that

:43:15. > :43:19.description, perhaps do you approve of what he is saying? If you look at

:43:20. > :43:22.which way many Labour heartlands have voted, you would not say it was

:43:23. > :43:28.the extreme right wing which was running things. That's absolutely

:43:29. > :43:35.right. The grassroots of the Labour Party have overwhelmingly taken the

:43:36. > :43:38.view which Kate has taken. First of all, I did think the Prime

:43:39. > :43:41.Minister's speech was very magnanimous, would be expert, I

:43:42. > :43:48.think he has done the right thing. There is no need to rush to

:43:49. > :43:52.introduce article 50. It is time until we start those negotiations to

:43:53. > :43:55.be able to talk to people like Canada, Australia, India, those

:43:56. > :43:58.countries in the Commonwealth that we can actually start talking to

:43:59. > :44:02.know about how we're going to get deals with them. The final thing I

:44:03. > :44:07.would say, I do feel, what we're losing in all of this is that the

:44:08. > :44:12.British people today voted, many, many, many of them, for hope, and

:44:13. > :44:15.they are feeling positive. And I think it is really important that we

:44:16. > :44:19.say to all of those people - I believe you have done the right

:44:20. > :44:24.right thing, and we will see it working out for the best for the

:44:25. > :44:29.country, in the end. Do you think the Labour Party did its utmost, and

:44:30. > :44:35.its leader, to get this referendum to go in favour of Remain? Or do you

:44:36. > :44:40.think the campaign was flawed and that Labour did not pull its wait? I

:44:41. > :44:45.think eventually, halfway through this campaign, people like Tom

:44:46. > :44:49.Watson, the debited leader, Ian McNicol, the general secretary,

:44:50. > :44:54.really tried to mobilise the party and its resources and to throw them

:44:55. > :45:00.behind Alan Johnson's campaign. The problem was that whilst they were

:45:01. > :45:04.able to do quite a lot on the ground, they did not have a voice

:45:05. > :45:13.from Jeremy Corbyn which was making any impact in the broadcast media.

:45:14. > :45:20.The problem with Jeremy was not that he had a handbrake on, being

:45:21. > :45:27.doubtful, the real question is whether he has the capability, the

:45:28. > :45:30.competence to project the Labour Party to put together an effective

:45:31. > :45:36.message and to get it heard by Labour voters right across the

:45:37. > :45:43.country. It is obvious that on this occasion he was unable to do that,

:45:44. > :45:48.and he should reflect on why that was and whether he really has what

:45:49. > :45:54.it takes to be the sort of leader in the modern age of politics that we

:45:55. > :45:59.need coming from the top of our party. Might we see a challenge to

:46:00. > :46:01.the leadership of the Labour Party alongside a challenge for the

:46:02. > :46:08.leadership of the Conservative Party? That is a matter for the

:46:09. > :46:15.Parliamentary Labour Party, Labour MPs. I think they like Jeremy have

:46:16. > :46:21.got to reflect on what the implications are of the Labour Party

:46:22. > :46:26.so clearly losing touch with and a connection with its electoral base

:46:27. > :46:33.across the country. I have got to interrupt, Mark Carney is just about

:46:34. > :46:37.to make a statement. Inevitably, they will be a period of

:46:38. > :46:43.uncertainty and adjustment following this result. At the Prime Minister

:46:44. > :46:47.said this morning, there will be no initial change in the way our people

:46:48. > :46:53.can travel, our goods can move or our services can be sold. It will

:46:54. > :46:58.take some time for the UK to establish new relationships with

:46:59. > :47:01.Europe and the rest of the world. Some market and economic follow to

:47:02. > :47:07.he can be expected of this process unfolds. But we are well prepared

:47:08. > :47:11.for this. Her Majesty's Treasury and the Bank of England having gauged

:47:12. > :47:14.and extensive contingency planning and the Chancellor and I have

:47:15. > :47:21.remained in close contact, including through the night and this morning.

:47:22. > :47:27.The bank of England will not hesitate to take additional measures

:47:28. > :47:32.as required as markets adjust and as the UK economy moves forward. Those

:47:33. > :47:37.economic adjustment will be supported by a resilient UK

:47:38. > :47:40.financial system, one that the Bank of England has consistently

:47:41. > :47:44.strengthened over the course of the last seven years. The capital were

:47:45. > :47:49.quiet months of our largest banks are now ten times higher than before

:47:50. > :47:53.the financial crisis. The Bank of England has stress tested those

:47:54. > :47:58.banks against scenario is far more severe than our country faces. As a

:47:59. > :48:04.result of these actions, UK banks have raised over ?130 billion of new

:48:05. > :48:13.capital and now have more than ?600 billion of high quality liquid

:48:14. > :48:16.assets. Why does this matter? That capital and huge liquidity gives

:48:17. > :48:19.banks the flexible today need to continue to lend to UK businesses

:48:20. > :48:26.and households, even during challenging times. As a backstop,

:48:27. > :48:30.and to support the functioning of the markets, the Bank of England

:48:31. > :48:32.stands ready to provide more than ?250 billion of additional funds

:48:33. > :48:39.through its normal market operations. The Bank of England is

:48:40. > :48:44.also able to provide substantial liquidity in foreign currency if

:48:45. > :48:49.required. We expect institutions to draw on this funding if and when

:48:50. > :48:52.appropriate, just as we expect them to draw on their own resources as

:48:53. > :48:57.needed, to provide credit to support markets, and to supply other

:48:58. > :49:03.financial services to the real economy. In the coming weeks the

:49:04. > :49:11.bank will assess economic conditions and we will consider any additional

:49:12. > :49:15.policy responses. A few months ago the bank judged that the risks

:49:16. > :49:19.around the referendum would you most significant near-term domestic risk

:49:20. > :49:25.to financial stability. To mitigate them, the bank has put in place

:49:26. > :49:29.extensive contingency plans, which begin with ensuring that the core of

:49:30. > :49:34.our financial system is well capitalised, liquid and strong. This

:49:35. > :49:39.resilience is backed up by the Bank of England's facilities in Stirling

:49:40. > :49:44.and foreign currencies, and all of these resources will support market

:49:45. > :49:50.functioning in the face of any short-term volatility. The bank will

:49:51. > :49:53.continue to consult and cooperate with all relevant domestic and

:49:54. > :49:58.international authorities to ensure that the UK financial system can

:49:59. > :50:06.absorb any stresses and can do its job of concentrating on serving the

:50:07. > :50:11.real economy. That economy will adjust to new trading relationships

:50:12. > :50:15.that will be put in place over time. It is these public and private

:50:16. > :50:21.decisions which will determine the UK's long-term economic prospects.

:50:22. > :50:27.The best contribution of the Bank of England can make is to continue to

:50:28. > :50:32.push you relentlessly our responsibilities dormitory and an

:50:33. > :50:36.adjustability. These are unchanged. We have taken all of the necessary

:50:37. > :50:40.steps to prepare for today's events, and in the future we will not

:50:41. > :50:45.hesitate to take any additional measures required to meet our

:50:46. > :50:53.responsibility as the UK moves forward.

:50:54. > :50:57.Mark Carney, the governor of the Bank of England, saying they have

:50:58. > :51:01.?250 billion they are prepared to spend to support sterling and they

:51:02. > :51:06.will do what is needed. If that bluff, or can he do that? You feel

:51:07. > :51:13.he is speaking directly to the markets. We have seen banking stocks

:51:14. > :51:20.from this morning down by between 20 and 30%. RBS, Barclays, Lloyds, all

:51:21. > :51:26.having a torrid time on the markets this morning. This is a man who is

:51:27. > :51:32.trying to prevent a political crisis turning into a banking crisis. He

:51:33. > :51:35.said he will stand behind the British banks, he will enable them

:51:36. > :51:39.to provide credit, not just to businesses but to households as

:51:40. > :51:45.well, a vital part of the plumbing of the UK economy. It is remarkable,

:51:46. > :51:49.when you have the resignation of the Prime Minister, and a statement from

:51:50. > :51:55.the Governor of your central bank to reassure the markets. The fact that

:51:56. > :52:00.happening shows how nervous people like Mark Carney are about what

:52:01. > :52:04.could happen. Mark Carney was the man who was the first to use the

:52:05. > :52:08.word recession when it came to the idea of Brexit, that Britain could

:52:09. > :52:14.fall into a technical recession. Whoever the new Prime Minister is by

:52:15. > :52:18.the end of the year, his Thracian ship with the Governor of the Bank

:52:19. > :52:22.of England will be key. If that Prime Minister is somebody who felt

:52:23. > :52:25.that the Governor of the Bank of England was not somebody who seemed

:52:26. > :52:31.to support his position, the Governor of the Bank of England is

:52:32. > :52:38.in a position where he will have to rebuild relations with the governing

:52:39. > :52:45.party. Will it work? His big point is... His big point is the banks are

:52:46. > :52:49.not in the same position as they were in 2007, when they had no

:52:50. > :52:56.capital buffers against big changes in the market. He says they are now

:52:57. > :53:00.capitalised to a far greater extent, there is more financial support in

:53:01. > :53:04.the market, so it is not like we are back in 2007, would you have seen

:53:05. > :53:08.from the markets this morning that banks are still in a fragile state,

:53:09. > :53:13.they have not recovered from the financial crisis in totality, and he

:53:14. > :53:20.is speaking directly to investors and saying that the bank will do

:53:21. > :53:26.whatever is necessary, which means providing liquidity to ensure that

:53:27. > :53:31.this political crisis does not turn into a banking crisis. Yesterday we

:53:32. > :53:36.were told it was scaremongering, but here we are, can you believe it,

:53:37. > :53:42.talking about an economy that is now in this terrible shock, and people

:53:43. > :53:46.like me were told we were scaremongering, don't want to listen

:53:47. > :53:50.to the experts, but that has now been... I wish it were different,

:53:51. > :53:56.but it has been proved to be accurate. We have made a very, very,

:53:57. > :54:04.very bad mistake. You are alarmed by the reaction? Not particularly. We

:54:05. > :54:11.visit there would be this sort of reaction. The Chancellor has been

:54:12. > :54:15.engaged in this hype about the disasters that would come to us ever

:54:16. > :54:23.since the dodgy dossier which was issued by the Government or by the

:54:24. > :54:27.faction of the Remain camp in the Government. They have been building

:54:28. > :54:32.it up. Now they have got to try to calm it down. This is a cross they

:54:33. > :54:36.have made for themselves. There is no reason to believe that over the

:54:37. > :54:46.next month that anything great will change. What will change? Of the

:54:47. > :54:53.French going to refuse... This is something we always knew... You are

:54:54. > :54:58.not listening to business. Hold on. The French going to refuse to

:54:59. > :55:03.purchase the landing gear and the engines for the Airbus? Will they

:55:04. > :55:12.say, we don't do business with Britain anymore? Of course not.

:55:13. > :55:16.Business said vote in. Let's not take it any further for the moment.

:55:17. > :55:23.That will run and run. Jeremy, let's have a look, because we are coming

:55:24. > :55:30.up towards 9am, but we will hand over to others. Let's have a look

:55:31. > :55:32.with your illustrations of the outcome of this referendum and how

:55:33. > :55:41.it came about. We started 11th hours ago hey, the

:55:42. > :55:47.drama has come right to the man behind the door of number ten. Let's

:55:48. > :55:52.remind ourselves of the sequence. The first result at mid-night, it

:55:53. > :56:00.was a warning sign for the remain group, Newcastle. It went Remain,

:56:01. > :56:08.only just. It was expected to be much stronger for Remain. That was a

:56:09. > :56:13.flight at the start. Then Swansea came in, for Leave, it had been

:56:14. > :56:18.predicted for Remain. London began to report much better results for

:56:19. > :56:24.Remain. In Lambeth it was between 70 and 80% of the vote. But it was not

:56:25. > :56:30.enough. Even some of the London results, the Remain vote was a bit

:56:31. > :56:35.suppressed. Then we heard from the cities outside London, Sheffield

:56:36. > :56:42.went Leave, even though we thought it might go Remain. Then, Durham,

:56:43. > :56:47.50-50, we had it down as, it went decisively the Leave. Then the gun

:56:48. > :56:56.was much more balanced. Any chance Leave had of snatching it from

:56:57. > :57:01.Birmingham was gone. Then, this happened. Northumberland took the

:57:02. > :57:07.numbers over the line for Leave. There was no way back for Remain.

:57:08. > :57:16.The last result came in, Cornwall, that reported for Leave. A strong,

:57:17. > :57:21.decisive, clear victory for Leave, but many questions arising. We have

:57:22. > :57:25.seen the drama in Downing Street. What a night. What a day to come.

:57:26. > :57:33.Just before 10pm last night when we started I said that it was a

:57:34. > :57:37.momentous day for Britain, because it was no less than defining what

:57:38. > :57:41.kind of country we wanted to live in. The answer to that question,

:57:42. > :57:46.which is one that has haunted politics for a long time, whether we

:57:47. > :57:50.should be in or out of the EU, has been resoundingly answered, a

:57:51. > :57:57.majority decided yesterday they wanted us to leave the EU. What they

:57:58. > :57:59.did not expect was that as an immediate consequence, David Cameron

:58:00. > :58:04.would announce he was standing down as Prime Minister, and there would

:58:05. > :58:12.be by October a new leader of the Conservative Party, whether it leads

:58:13. > :58:18.to a general election, a new Prime Minister showing he has legitimacy,

:58:19. > :58:23.is for the future. We heard David Cameron, his voice breaking at the

:58:24. > :58:26.end, say he was laying down the responsibility, he was there to

:58:27. > :58:31.steady the ship, but he was not the captain to take us out of the EU. It

:58:32. > :58:36.has been an extraordinary night, but that is all from us here. From all

:58:37. > :58:40.of us in the studio and everybody who has done the number crunching

:58:41. > :58:51.and the rest of it, Emily, Jeremy, me, and from John and Dick and Harry

:58:52. > :58:57.and old uncle Tom Cobleigh... It has been a big and busy night. I thank

:58:58. > :59:01.them all very much. Our coverage continues, because this story will

:59:02. > :59:03.develop through the day. It continues here on BBC One with

:59:04. > :59:16.Sophie Raworth and Andrew Neil. If we are to form the United States

:59:17. > :59:20.of Europe, we must begin now. Despite his friendship with Charles

:59:21. > :59:34.de Gaulle, it came to nothing. Britain has much to contribute to

:59:35. > :59:35.this process, and as members of the community, we shall be better able

:59:36. > :59:51.to do so. Yes is now 67%, the no vote is 33%.

:59:52. > :59:56.The president of the commission said the other day that he wanted the

:59:57. > :00:00.European Parliament to be the democratic body of the community. He

:00:01. > :00:04.wanted the commission to be the executive and he wanted the Council

:00:05. > :00:11.of ministers to be the Senate. No, no, no. I find Winston Churchill's

:00:12. > :00:16.perception a good deal more convincing and more encouraging than

:00:17. > :00:24.the nightmare image sometimes conjured up by my right honourable

:00:25. > :00:27.friend. Britain's best interests served by suspending our mentorship

:00:28. > :00:33.of the exchange rate mechanism. Like me all over me, don't bind my hands

:00:34. > :00:47.when I am negotiating on the half of the British nation.

:00:48. > :00:53.Three years ago I committed to the British people that I would

:00:54. > :00:55.renegotiate our position in the European Union and hold an in/ out

:00:56. > :01:13.referendum. At 4:40am we can say the decision

:01:14. > :01:18.taken in 1975 by this country to join the Common market has been

:01:19. > :01:31.reversed by this referendum to leave the EU. You did it! You have changed

:01:32. > :01:36.the face of Europe! I hope so. I thought this campaign in the only

:01:37. > :01:39.way I know how, which is to say directly and passionately what I

:01:40. > :01:40.think and feel, head, heart and