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Prime Minister Theresa May announces her resignation

Prime Minister Theresa May announces her resignation | Insurance Business

Prime Minister Theresa May announces her resignation

It appeared almost inevitable – and today it finally happened, as UK Prime Minister Theresa May announced her resignation.

“Back in 2016, we gave the British people a choice, against all predictions the British people voted to leave the European Union,” she said. “I feel as certain today as I did three years ago that in a democracy if you give people a choice you have a duty to implement what they decide. I have done my best to do that... I have done everything I can to convince MPs to back that deal.

“Sadly, I have not been able to do so. I tried three times. I believe it was right to persevere even when the odds against success seemed high. But it is now clear to me that it is in the best interests of the country for a new prime minister to lead that effort.

“It is and will always remain a matter of deep regret for me that I have not been able to deliver Brexit. It will be for my successor to seek a way forward that honours the result of the referendum. To succeed, he or she will have to find consensus in parliament where I did not. Such a consensus will only be reached if those on both sides of the debate are willing to compromise.”

May will officially resign as leader of the Conservative Party on June 07. It is expected that the process to find a new leader will begin just one week later.

The news comes just weeks after the British Insurance Brokers’ Association Conference at which Boris Johnson declared his own intention to run for leadership. Johnson is now considered the bookmakers’ favourite to secure the post.