Cameron resigns, says being PM was the greatest honour

London: David Cameron has formally resigned as British Prime Minister to pave way for his successor, Home Secretary Theresa May, Buckingham Palace confirmed in a statement on Wednesday.

A statement said Queen Elizabeth II has "graciously accepted" David Cameron's resignation as Prime Minister and first Lord of the Treasury, BBC reported.

Before leaving Downing Street, Cameron said being Prime Minister had been "the greatest honour" of his life.

Flanked by his wife and children, the PM said Britain was "much stronger" than when he took over.

He then went to Buckingham Palace to tender his resignation to the Queen, who will then formally appoint Theresa May as his replacement.

Earlier, Cameron took PMQs for the final time, telling MPs he would "miss the roar of the crowd".

Speaking outside No 10, he said that he had "not got every decision right" but added: "I do believe that today, our country is much stronger."

"Politicians like to talk about policies, but in the end it's about people's lives," BBC quoted him as saying, pointing to the government's record on employment, the NHS and defence.

He wished May well, saying she would provide "strong and stable leadership", and paid tribute to his wife Samantha and his children.

As the family left for the final time, he said his only wish was "continued success for this great country that I love so very much".