David Cameron warns of difficult economic times to emerge in UK after Brexit

A video grab from footage broadcast by the UK Parliament's Parliamentary Recording Unit (PRU) shows British Prime Minister David Cameron as he speaks in the House of Commons in London on June 29, 2016. (photos by AFP)

British Prime Minister David Cameron warns the nation of “difficult economic times” following the exit from the European Union.

Speaking at the parliament on Wednesday, the premier predicted a troubled economy, further opposing the suspension of fiscal rules.

"There's no doubt in my mind these are going to be difficult economic times," he said. "If we do see economic difficulties, one of the ways we have to react to that is to make sure that our public finances and economy remain strong ... so I don't think it would be right to suspend the fiscal rules."

His stance on the fiscal rules runs counter to the one adopted by opposition leader Jeremy Corbyn, who has called for more investment.

A video grab from footage broadcast by the UK Parliament's Parliamentary Recording Unit (PRU) shows British opposition Labour Leader Jeremy Corbyn address MPs in the House of Commons in London on June 29, 2016. 

The situation in Britain follows a referendum held last Thursday, in which some 52 percent of the population opted for Brexit and 48 percent voted to remain in the EU, marking a narrow win for the Out campaign.

As a result, British pound fell to a record low in 31 years against the US dollar.

Brexit has also triggered tension in the country’s politics with the premier promising resignation and the opposition leader under pressure to resign.

In his parliament address, Cameron also called on Corbyn to resign, arguing "It might be in my party's interest for him to sit there; it's not in the national interest."

"For heaven's sake man, go," said the prime minister.

The Labour leader’s MPs overwhelmingly passed a no confidence motion against him on Tuesday and a day later he was faced with another resignation from his Shadow Cabinet .

Corbyn said the Britons’ decision to leave the EU amounts to a “rejection of the status quo, a status quo which clearly isn’t delivering.”

Cameron, however, disagreed, saying “To claim last week’s result was about the state of the British economy is complete nonsense.”