Brexit live: George Osborne tries to calm markets with early-morning speech

6.27am BST

Happy Monday and with the aftermath of last week’s vote to leave the EU showing no signs of tiring, welcome to another day of Brexit live blogging.

The morning briefing rounds up what you need to know to start the day, before the live blog takes you through it all happening, along with all the extras we didn’t expect. Do come and chat in the comments below or find me on Twitter @Claire_Phipps.

The chancellor will make a statement to provide reassurance about financial and economic stability in light of the referendum result and the actions that he and the rest of the government will be taking to protect the national interest over the coming period.

A survey by the Institute of Directors (IoD), which found that the majority of businesses believed Brexit was bad for them, comes amid fears that investors will wipe billions more pounds off share values on Monday morning, and signs that the pound, which hit a 30-year low on Friday, was coming under further pressure from trading in Asia. Sterling was down more than 1% as the Asian markets opened late on Sunday.

The IoD said a quarter of the members polled in a survey were putting hiring plans on hold, while 5% said they were set to make workers redundant. Nearly two-thirds of those polled said the outcome of the referendum was negative for their business. One in five respondents, out of a poll of more than 1,000 business leaders, were considering moving some of their operations outside of the UK.

No he hasn’t made any decisions at all – he has been totally focused over the last 72 hours on talking to counterparts and investors across the world to try to ensure a period of stability.

They are our neighbours, brothers and sisters who did what they passionately believe was right … We who are part of this narrow majority must do everything we can to reassure the remainers. We must reach out, we must heal, we must build bridges – because it is clear that some have feelings of dismay, and of loss, and confusion.

The nation needs an effective opposition, particularly as the current leadership of the country is so lamentable. It’s very clear to me that we are heading for an early general election and the Labour party must be ready to form a government. There’s much work to do.

It was clear last summer that Jeremy was only ever partially interested in keeping Britain in Europe and an honourable leader would bear the responsibility for the failure to persuade Labour voters to vote remain.

I was elected by hundreds of thousands of Labour party members and supporters with an overwhelming mandate for a different kind of politics.

I regret there have been resignations today from my shadow cabinet. But I am not going to betray the trust of those who voted for me – or the millions of supporters across the country who need Labour to represent them. Those who want to change Labour’s leadership will have to stand in a democratic election, in which I will be a candidate.

I never said that during the course of the election … What we actually said was a significant amount of it would go to the NHS. It’s essentially down to the government, but I believe that is what was pledged and that’s what should happen. There was talk about it going to the NHS, but there are other bits and pieces like agriculture, which is part of the process. That is the divide up. It was never the total.

Mr Cameron has said nothing since Friday morning. George Osborne, the chancellor of the exchequer, has been silent … The prime minister’s loyalist allies in Westminster and in the media are largely mute.

Apart from ashen-faced, mumbled statements from the Vote Leave headquarters on Friday, Boris Johnson and Michael Gove have also ducked the limelight … Neither seems to have the foggiest as to what should happen next. Today Mr Gove’s wife committed to Facebook the hope that ‘clever people’ might offer to ‘lend their advice and expertise’. And Mr Johnson’s sister, Rachel, tweeted: ‘Everyone keeps saying “we are where we are” but nobody seems to have the slightest clue where that is.’

Could the UK negotiate ‘associate status’, outside the EU but with devolved powers for Scotland to maintain free movement and other EU benefits? … The ‘associate’ option, which would be decried as a sell out by hardline Brexiters, would see the future prime minister try to keep Britain in the EU single market, accepting large tracts of EU law, but with autonomy over agriculture, fishing and trade deals …

[Nicola] Sturgeon is key to making this happen. If she can go back to Edinburgh claiming victory – protecting Scotland’s access to the single market and getting back fishing rights – the UK could be saved. But the UK as a whole would lose its seat at the EU table and be firmly more Out than In. It would be powerless, but sovereign. It is a hard sell in the long term.

I don’t agree that his time as leader has been a disaster – leave would have won the referendum regardless. It would always have turned the debate into a conversation about immigration and hammered out its racist cant, whoever opposed it. A more centrist Labour leader would have made more concessions – offered bogus and unworkable migrant caps – but the more strident voice would still have won.

Corbyn has been a one-man Occupy movement, squatting in the office of Labour leader on behalf of the people (of whom I was one) who felt the party’s high command was lifeless and intellectually spent. The point has been made, and the apparatus now has to be put to better use.

“It sounds like I’m making that up” – @FaisalIslam told the Leave campaign did not have a post #Brexit plan https://t.co/VY6ATlAowP

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