Boris Johnson said "Project Fear is over" after the Chancellor George Osborne said an emergency budget was unlikely to happen until David Cameron's successor takes over in the autumn.
The leading Leave campaigner welcomed Mr Osborne's statement on Monday morning that the UK economy was "about as strong as it could be", as the chancellor tried to calm fears in the markets about the economy post Brexit.
"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," Mr Johnson told reporters as he left his London home.
The former Mayor of London also said EU citizens currently living in the UK and British expats living on the continent "have their rights protected", as he sought to clear up "confusion" over their "status".
George Osborne has said the UK economy is "prepared for the unexpected". So did he overstate his Brexit warnings?
Chancellor George Osborne will seek to reassure financial markets on Monday morning following Britain's decision to leave the EU.
Soros says that the European Union will struggle through the process of Brexit, with other countries wishing to follow suit.