The Defence Secretary Dr Liam Fox has this afternoon written to the Prime Minister to tender his resignation.
This is the text of Dr Fox’s letter:
As you know, I have always placed a great deal of importance on accountability and responsibility. As I said in the House of Commons on Monday, I mistakenly allowed the distinction between my personal interest and my government activities to become blurred. The consequences of this have become clearer in recent days. I am very sorry for this.
I have also repeatedly said that the national interest must always come before personal interest. I now have to hold myself to my own standard. I have therefore decided, with great sadness, to resign from my post as Secretary of State for Defence - a position which I have been immensely proud and honoured to have held.
I am particularly proud to have overseen the long overdue reforms to the Ministry of Defence and to our Armed Forces, which will shape them to meet the challenges of the future and keep this country safe.
I am proud also to have played a part in helping to liberate the people of Libya, and I regret that I will not see through to its conclusion Britain’s role in Afghanistan, where so much progress has been made.
Above all, I am honoured and humbled to have worked with the superb men and women in our Armed Forces. Their bravery, dedication and professionalism are second-to-none.
I appreciate all the support you have given me - and will continue to support the vital work of this government, above all in controlling the enormous budget deficit we inherited, which is a threat not just to this country’s economic prosperity but also to its national security.
I look forward to continuing to represent my constituents in North Somerset.