Soldier attacked with meat cleavers and knives in Woolwich, SE London

A dramatic video tonight emerged of a man with bloodied hands, carrying knives and ranting 'We swear by almighty Allah we will never stop fighting you', after a serving soldier was hacked to death by two men just 200 yards from an Army barracks. The man can be seen and heard talking to the camera. The video came as terrified eyewitnesses saw two men shot by police marksmen after the machete attack in Woolwich, south-east London. The two men are thought to have waited around for 20 minutes until Metropolitan Police officers arrived and then tried to attack them - but were swiftly shot by armed policemen, including a woman. They apparently shouted 'Allahu Akbar', which means 'God is great' in Arabic, and tried to film the attack, the BBC's political editor Nick Robinson said. Theresa May tonight called a meeting of the Government's emergency Cobra committee in response to the machete and knife attack on the man who was wearing a Help for Heroes t-shirt.

The Home Secretary said she had been briefed on the killing by the head of MI5 and police later confirmed they were treating the incident as a possible terror attack.

The Cobra meeting heard that security has been tightened at Woolwich barracks and increased at all London barracks. It was also told there are strong indications that this was a terrorist incident. Meanwhile Prime Minister David Cameron cancelled a meeting with French President Francois Hollande to return to London. He said Britain has faced similar terror attacks before and added: ‘We will never buckle in the face of it.’ Before the dramatic video of the bloodied man was obtained by ITV News, eyewitnesses said the 'crazed' men in their 20s launched a ferocious attack and were 'hacking, chopping and cutting him.'

In footage released by ITV News, a man with bloodied hands carrying a knife and a machete addresses people holding a camera, where he appears to attempt to justify the incident.

Speaking to those recording the scene he says: 'I apologise that women had to witness this today, but in our land our women have to see the same.

'You people will never be safe. Remove your government, they don't care about you.'

In footage obtained by The Sun, he can also be heard saying: 'You think David Cameron is going to get caught in the street when we start busting our guns you think politicians are going to die?

'No it's going to be the average guy, like you, and your children. So get rid of them. Tell them to bring our troops back so you can all live in peace.'

Following his outburst, the man walks back towards where the victim is lying in the middle of the road. He then speaks to another man as they stand near to the victim.

Women are later seen bravely tending to the man lying. The footage appears to have been taken before any of the emergency services have arrived at the scene.

Later footage has also emerged from shortly after police fired at two men. One of the men can be seen lying in the road, while the second is laid on the pavement.

The footage taken after the shootings was reported to have been taken by a man who had been on a bus on his way to a job interview.

Mr Cameron said on Twitter that 'the killing in Woolwich is truly shocking - I have asked the Home Secretary to chair a Cobra meeting.' 

A Buckingham Palace spokesman said: 'The Queen is of course concerned by the report of an attack in Woolwich earlier today. Her Majesty is being kept informed.'

The spokesman also confirmed the Queen will visit the King's Troop Royal Horse Artillery at Woolwich barracks on May 31, which was planned before today's attack.

This afternoon the area’s MP, Nick Raynsford, told BBC Radio 5 Live he believed the victim, a man aged in his 20s, was a serving soldier.

The man is believed to have been hacked to death after a car crash. The scene of the attack is just 200 yards from Woolwich Barracks.

Mr Raynsford said: 'We think a serving soldier was the victim. We don't know the circumstances surrounding the incident. We do know a number of weapons have been seized. 

'They include a gun, various knives, and a machete, apparently. The police clearly had to take action in order to try and arrest these individuals.'

He also told Channel 4 News: 'It is my understanding this man was a serving soldier based at the barracks. He had been on duty in central London and was making his way back to the barracks.'