Pound price: Pound dives after Boris Johnson resigns

David Davis just minutes before midnight

David Davis just minutes before midnight. ADRIAN DENNIS

British Foreign Secretary Boris Johnson resigned on Monday in a major blow for Prime Minister Theresa May, hours after her Brexit minister stepped down over her plans for leaving the EU. He said on Monday he thought May was a good prime minister and did not want to see her replaced, but could not defend her strategy in good faith.

"His replacement will be announced shortly".

Addressing parliament just minutes after her office announced that Johnson, the face of Brexit for many in Britain, had quit, May told lawmakers she appreciated the work of her two ministers.

Brexiteers leapt on David Davis's resignation to demand that the government take a harder line with Brussels, but opposition parties' accusations of chaos were only strengthened when Boris Johnson quit as foreign secretary at 3pm. Half an hour later at the dispatch box, the prime minister said she wanted to "recognise the passion" shown by Mr Johnson in promoting a "global Britain to the world".

She said she and the two departed ministers "do not agree about the best way of delivering our shared commitment to honouring the result of the referendum" in which voters opted to leave the EU.

But on the other side of the party divide, they feel that her words have not been matched by her deeds, proposing to negotiate a deal which could leave Britain still accepting European Union rules and regulations without being able to influence them.

"It seems to me we're giving too much away, too easily, and that's a unsafe strategy at this time", Davis said in a BBC radio interview Monday morning.

"An agreement was reached by the cabinet on Friday and now we are moving forward to negotiate that plan", May's spokesman told reporters. He became a leading figure in the "Leave" campaign, cutting a charismatic figure as he painted a rosy picture of Britain's future outside the European Union.

But as Foreign Secretary in May's government, he was prone to gaffes and criticized for not being on top of his brief.

Labour leader Jeremy Corbyn said Mr Johnson and Mr Davis had abandoned a "sinking ship", shattering the "illusion of unity" initially surrounding the Chequers plan.

He says "there is now a new secretary of state and we look forward to moving on".

In her statement to Parliament, May attempted to give an impression of business as usual, saying she would present a detailed paper onThursday on the government's negotiating position for a post-Brexit relationship with the EU.

We're "not there just yet - even if there's rumours of a leadership challenge", he added. Many Brexit campaigners in her Conservative Party say she has betrayed her promise to pursue a clean break with the EU.

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