‘We are leaving the EU, not the world’ Osborne reassures fearful Remainers over Brexit

DEFEATED Remain campaigner George Osborne said Britain will not retreat from the international stage following the UK's decision to ditch Brussels.

The Chancellor said: “My message is simple: Britain may be leaving the EU, but we are not withdrawing from the world.”

Osborne, who campaigned for Remain, said the result of the referendum must be repeated.

He said: "When the people speak we respect their verdict, and we must take it as an instruction to deliver."

The Chancellor, whose job could be under threat from the incumbent Prime Minister Theresa May, said Britain must continue to work with other nations and should set a path to "build a more outward-looking, global-facing Britain, with stronger links with its friends and allies around the world".

Osborne boasted about his economic record since becoming Chancellor in 2010, saying the UK has "one of the strongest of the advanced economies" and set out his intention to lower corporation tax to 15 per cent, or even lower.

In an article for the Wall Street Journal, Osborne looked to reassure businesses and markets that nothing had changed Britain's status in the world.

He said: "There will be no immediate changes to our relationship with the EU, or the way our goods can move or the way our services can be sold.

“Britain won’t be rushed; we will take our time to determine the trading arrangements with our European allies outside their political union."

While Britain's potential relationship with the US remains unclear, after comments made by Obama which said Britain would be in the "back of the queue" should we vote Leave, Osborne was confident a positive deal could be struck.

He added: “I have spoken to House Speaker Paul Ryan several times in the past two weeks about a stronger trading relationship—and this week I will welcome Treasury Secretary Jack Lew to London to see what more we can do together.

“Britain will be a beacon for free trade, democracy and security, more open to that world than ever.”