In what he said was a demonstration of the “settled will of the Scottish people”, Cameron said the result had drawn a line under the question of independence.

The debate on independence has been “settled for a generation”, he said.

However, it will now lead to a “constitutional revolution” as one commentator called it, with Cameron promising to deliver on devolution promises.

It is time now for the UK to come together with a “balanced settlement” which is fair to Scotland and elsewhere in the UK, he said.

Now, he said, there is a chance to change the way the British people are governed.

He insisted the promises for Scotland will be delivered “in full”, with Lord Smith of Kelvin to oversee that process.

Draft laws on new powers for Scotland will be published by January, he added.

Giving an insight into the far-reaching impact of the vote, he said England, Wales and Northern Ireland must also have a bigger say in how they are governed, pledging more powers for Wales, and more effective devolved institutions in Northern Ireland.

For England, which Cameron said “must also be heard”, William Hague has been tasked with working on “English votes for English issues”.

“It was right that we respected the SNP’s majority in Holyrood and gave the Scottish people the right to have their say,” the Prime Minister said outside Downing Street.

“There can be no disputes. No re-runs. We have heard the settled will of the Scottish people.

“It is time for our United Kingdom to come together and move forward.”