Alex Salmond resigns after Scotland votes no to independence

Alex Salmond this afternoon dramatically resigned just hours after voters rejected independence in yesterday's historic referendum.

The SNP chief said he would stand down as both party leader and First Minister in November to let the next generation take over the fight to lead Scotland out of the Union.

Mr Salmond announced his departure at a press conference this afternoon. He said 'party, Parliament and country' would benefit from 'new leadership'.

But he fired a warning shot at David Cameron not to go back on his promise to transfer sweeping new powers to Holyrood within six months.

This afternoon's announcement, which paves the way for his deputy Nicola Sturgeon to take over, came after he was forced to accept that a majority of Scots had decided 'at this stage' not to become an independent country. 

The 'No' campaign secured 55 per cent of the vote to the nationalists' 45 per cent.