Surrey's business leaders have urged "swift, decisive and coordinated action" from Government and the Bank of England to both stabilise markets spooked by today's Brexit vote and to provide a "clear timeline" for the UK's departure.

Surrey Chamber of Commerce chief executive, Louise Punter, made the statement as the BBC reported investment bank Morgan Stanley was preparing to move 2,000 staff overseas.

She said: "Surrey businesses have showed themselves to be innovative, resilient and forward looking, as demonstrated through the last recession.

"The immediate priorities for business are market stability and political clarity.

"Business will also want to see a detailed plan to support the economy during the coming transition period - as confidence, investment, hiring and growth would all be deeply affected by a prolonged period of uncertainty.

"If ever there were a time to ditch the straight-jacket of fiscal rules for investment in a better business infrastructure, this is it.

"Given David Cameron’s announcement to step down by October we are very concerned at the potential delay in presenting a timeline but will continue to push for it.

"From our perspective the health of the economy must be the number one priority – not the Westminster political post-mortem."

Weybridge MP Philip Hammond, the Foreign Secretary, has been in urgent talks with overseas leaders today.

But he has said that Britain's security and standing in the world have been put at risk by the referendum result, the Daily Telegraph reported.

Mr Hammond said: "I don't want to overstate the case but I do think Britain has been a very positive influence in Europe on the security agenda.

"I do worry with Britain now having a hugely diminished voice we will see that resolve from our European partners waning."

Russian premier Vladimir Putin "will be feeling a little less pressure this morning and a little more upbeat," he added.

Mr Hammond added in a statement this afternoon: "The British people have voted to leave the European Union and their will must be respected.

"As the Prime Minister has said, he will remain in post until a new party leader and Prime Minister is chosen in the autumn.

"People shouldn’t see an immediate change in their circumstances, but the job will begin, under new leadership in Downing Street, to negotiate the terms of our departure from the EU.

"During the campaign, I and my fellow Remain campaigners spelled out the risks of Brexit.

"It is our job now to make that, as far as possible, those risks are mitigated so their impact on our economy is as small as possible.

"Britain will, of course, continue to play a leading role on the world stage and will remain a leading member of NATO."