Image: BBC Image: BBC

Business secretary Sajid Javid will meet with business leaders this week to reassure them that there was 'no reason to panic' after the UK voted to leave the EU.

A spokesperson at the Department for Business, Innovations & Skills said Mr Javid will meet with the likes of the CBI, Federation of Small Businesses and British Chambers of Commerce on Tuesday.

Speaking on the BBC's Andrew Marr programme, the business secretary said: "Now it's a time for reassurance for business, and my message to them ever since Friday morning is there's no need to be panicking at all.

"We have to have a calm approach, which is what we've seen since then."

Mr Javid added that he agrees with the David Cameron, in that Article 50 should not be triggering immediately, instead waiting for the new Prime Minister.

'Strength'

Since that interview, the chancellor George Osborne has since spoken publicly for the first time since the referendum result, stressing that the UK is in a "position of strength" to deal with the economic fallout of a vote to leave the EU.

The Chancellor agreed with delaying the legal process of leaving the EU until a new Prime Minister is chosen.

“Only the UK can trigger Article 50. And in my judgement, we should only do that when there is a clear view about what new arrangements we are seeking with our European neighbours," he said.

“In the meantime, during the negotiations that will follow, there will be no change to people’s rights to travel and work and to the way our goods and services are traded or to the way our economy and financial system is regulated.”