So Boerd said
British army isn't having any of it, and neither is Parliament. Most senior officers are nobles, and the fact that Edward didn't consolidate but simply declared the Kingdom at an end. So instead, Parliament shall treat Edward's shocking pronouncement as an abdication and young Alfred shall be king. As he is too young, a regent will be appointed, probably a staunch conservative to restore order.
This doesn't mean there won't be dissent by possibly Republican forces (read: either Marxist, Liberal, etc.) that will interpret Edward's statement as an opportunity to validate their ends.