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The City of London "stands ready" to work with Theresa May's successor after she announced her resignation as Prime Minister.

The City of London “stands ready” to work with Theresa May’s successor after she announced her resignation as Prime Minister.

Mrs May will leave 10 Downing Street on 7 June, with a Conservative leadership contest now underway to determine a new PM.

Addressing the nation on 24 May, she said not being able to deliver Brexit will “always remain a matter of deep regret to me”.

She added: “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 have not”.

One of Mrs May’s final duties as PM will be to host President Donald Trump during his state visit from 3-5 June.

A City of London Corporation spokesperson said: “As the Prime Minister stated, she has done her best to serve the country during an exceptionally difficult period.

“It is now up to the Conservative Party to hold a leadership contest to decide who should take over from Theresa May.

“We stand ready to work together with the new Prime Minister to best serve the interests of the City, London and the UK. Our strong message to whoever takes over is that the services sector should not be forgotten during the Brexit negotiations.

“It is also important that, amid the ongoing Brexit uncertainty, we collectively underline London’s fundamental strengths to ensure success for the future.”

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