MP for Brecon and Radnorshire Chris Davies has described Theresa May's decision to step down as "the right decision for the country".

But the Conservative MP says he has not decided who he will be supporting to take over as Prime Minister.

After a week of intense speculation regarding her future, earlier Today, Thursday May 24, Prime Minister Theresa May resigned in a tearful address on the steps of number 10, Downing Street.

Mr Davies, who is a strong supporter of leaving the European Union, also said he hoped whoever was in charge could reach a withdrawal agreement with the EU and avoid a 'no-deal' Brexit.

"It is the inevitable conclusion and most of us realised this was going to be the content of her statement. I think it is the right decision for the Prime Minister, the party and the country," he said.

"I have not made up my mind on whom I will be supporting as the new PM but my shortlist is (Boris)Johnson, (Michael)Gove or (Dominic)Raab, unless others come forward.

"The new PM will have to go back and negotiate, and negotiate in a very firm way."

He added that he felt there was no need for a general election following the PM's decision to step aside, citing Gordon Brown's decision not to do so when he took over as Labour Prime Minister from Tony Blair in 2007.

"Gordon Brown decided not to call a General Election - there is a Parliamentary process. We know need to get on with that job and that’s what the new PM needs to do whoever that might be."

Speaking in a statement this morning, the outgoing Prime Minister said she left the position "with no ill will, but with enormous and enduring gratitude to have had the opportunity to serve the country I love."

"It is and will always remain a matter of deep regret to me that I have not been able to deliver Brexit," she added.

Opposition Labour leader Jeremy Corbyn has said Theresa May was right to resign and has called for an immediate general election.

"She has now accepted what the country has known for months: she cannot govern, and nor can her divided and disintegrating party," he said.

"The burning injustices she promised to tackle three years ago are even starker today.

"The Conservative party has utterly failed the country over Brexit and is unable to improve people’s lives or deal with their most pressing needs.

"Whoever becomes the new Conservative Leader must let the people decide our country’s future, through an immediate general election," he added.