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Prime Minister David Cameron has responded to David Laws' resignation letter with one of his own - published in full here.

"Thank you for your letter tendering your resignation from the government, which I accept with sadness.

The last 24 hours must have been extraordinarily difficult and painful.

You are a good and honourable man. I am sure that, throughout, you have been motivated by wanting to protect your privacy rather than anything else.

Your decision to resign from the government demonstrates the importance you attach to your integrity.

In your short time at the Treasury, you have made a real difference, setting the government on the right path to tackle the deficit which poses such a risk to our economy.

I hope that, in time, you will be able to serve again as I think it is absolutely clear that you have a huge amount to offer our country."