The bombshell news broke shortly after 9am.
A new Tory leader and Prime Minister is expected to be in
place by the autumn Tory conference.
Mr Johnson agreed to stand down after the resignations of
five Cabinet ministers and more than 50 members of his Government in the last
48 hours.
A No 10 spokesperson said: “The Prime Minister will make a
statement to the country today.”
Shortly before it was confirmed that he was going,
Chancellor Nadhim Zahawi told the PM to “do the right thing and go now”.
Around 36 hours after being appointed to the top Treasury
job by Mr Johnson, he tweeted about the chaos in Government amid a string of
new resignations: “Prime Minister: this is not sustainable and it will only get
worse: for you, for the Conservative Party and most importantly of all the country.
You must do the right thing and go now.”
By 9am, eight more ministers had resigned on Thursday
including Northern Ireland Secretary Brandon Lewis, and Education Secretary
Michelle Donelan.
Mr Johnson was vowing on Wednesday night to fight on.
But by Thursday morning he was reported to have agreed to
an orderly transition.
Senior advisers hadmade it clear to him that he longer had
the support of the party and there were questions over whether the Government
could continue to function.
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