Boris Johnson declares that ‘Project Fear is over’

Boris Johnson has declared “Project Fear is over” after UK chancellor George Osborne said an emergency post-Brexit budget was unlikely to happen until a new prime minister is in place in the autumn.

Union flags along Oxford St yesterday as Britain continued to come to terms with the Brexit vote

Mr Johnson, the senior Leave campaigner, welcomed the statement by Osborne intended to calm the markets that the UK economy was “about as strong as it could be” to confront the challenge of separating from the EU.

“It is clear now that Project Fear is over, there is not going to be an emergency budget, people’s pensions are safe, the pound is stable, the markets are stable, I think that’s all very good,” Johnson told reporters as he left his London home.