Cameron is New UK Prime Minister

Conservative leader David Cameron (L) has become the UK's new prime minister after the resignation of Gordon Brown. Liberal Democrats leader Nick Clegg will be his deputy after they agreed to the UK's first coalition government in 70 years.

Cameron, who at 43 is the youngest PM in nearly 200 years, vowed to set aside party differences and govern "in the national interest." Clegg said he acknowledged some Liberal Democrat voters would have doubts about the deal but urged them to "keep faith."

Cameron's party won the most seats in the general election last week, but not enough to secure an overall Commons majority, resulting in a hung Parliament.

Cameron has begun the work of appointing his first cabinet, with the Tories' George Osborne as chancellor, William Hague as foreign secretary and Liam Fox as defence secretary, reports BBC News.

Liberal Democrat Treasury spokesman Vince Cable has been given responsibility for "business and banks" but it is not known if his title will be chief secretary to the Treasury, a senior Liberal Democrat source said.

Cameron's arrival in Downing Street marks the end of 13 years of Labour rule. The coalition is also the first Liberal Democrat and Conservative power-sharing deal at Westminster in history.

Cameron, who is six months younger than Tony Blair was when he entered Downing Street in 1997, is the youngest prime minister since 1812 and the first Old Etonian to hold the office since the early 1960s.

In a speech outside his new Downing Street home, after travelling to Buckingham Palace to formally accept the Queen's request to form the next government, Cameron paid tribute to outgoing Prime Minister Gordon Brown for his long years of public service.

He also pledged to tackle Britain's "pressing problems" - the deficit, social problems and to "rebuild trust in our political system."

Cameron said he aimed to "help build a more responsible society here in Britain... those who can and those who can't, we will always help. I want to make sure that my government always looks after the elderly, the frail, the poorest in our country.

"We must take everyone through with us on some of the difficult decisions we have ahead. I came into politics because I love this country, I think its best days still lie ahead and I believe deeply in public service. I think the service our country needs right now is to face up to our big challenges, to confront our problems, take difficult decisions, lead people through those decisions, so that together we can reach better times ahead."