George Osborne has finally spoken publicly about Brexit, three days after the results of the EU referendum were announced.
The Chancellor said that he wanted to reassure Britain and the rest of the world that the country is ‘ready to confront what the future holds for us from a position of strength.’
Pound continues to plummet following Friday’s record crash.
He also said an emergency budget was unlikely until the autumn adding it was better to delay action to shore up the public finances until a new prime minister is in place
Mr. Osborne warned it ‘would not be plain sailing’ but the UK was ‘equipped for whatever happens’.
In a message to nervous firms and investors, Mr Osborne stressed the economy was ‘fundamentally strong’ and ‘open for business’.
The Chancellor said: ‘It will not be plain sailing in the days ahead. But let me be clear – you should not underestimate our resolve.
‘We were prepared for the unexpected and we are equipped for whatever happens. And we are determined that, unlike eight years ago, our financial system will help our country deal with any shocks and dampen them, not contribute to those shocks or make them worse.’
The Chancellor’s intervention came ahead of the opening of markets in London, as Boris Johnson broke cover in a bid to start healing Tory wounds ripped open by the bitter referendum battle.
David Attenborough is saddened by Brexit
Mr Johnson, the frontrunner to replace David Cameron for PM, used an article in the Daily Telegraph to insist that Britain would not turn its back on Europe and would be able to introduce a points-based immigration system while maintaining access to the Single Market.
Mr Cameron was due to chair an emergency Cabinet meeting, while US secretary of state John Kerry was visiting London and Brussels for talks on the fallout from the vote. READ MORE OF THIS REPORT