THE leader of Worcestershire County Council insists it is "too early" to assess the implications of Brexit - and has urged investors to press ahead with confidence.

Councillor Simon Geraghty has issued a rallying call over the post-referendum uncertainty, saying the county's long-term targets remain exactly the same.

But the Conservative politician has also urged ministers to be bold in their negotiations, saying the long-term impact for Britain will largely hinge on what trade deals it can secure "outside the EU".

"The outcome of the referendum has triggered a period of significant market instability and political change," he said.

"Given the events of the last few weeks it's just too early, in my view, in the process of leaving the EU to assess the long-term or likely long-term impact on the UK let alone this county.

"To a certain extent that long-long term impact will depend on how the UK and our global partners approach the changes, and our success or otherwise in being able to trade and do business outside the EU."

On Monday the Worcester News revealed how £25.5 million of EU structural funding in areas like business start-ups, research, job creation and rural tourism has yet to be spent, with no guarantees at least some of it will not be clawed back by Eurocrats.

Councillor Geraghty has not ruled out revising the county's Strategic Economic Plan (SEP) blueprint at a later date but said his "firm belief" was that they should carry on as normal.

"In Worcestershire it's my firm belief we must continue to drive forward our ambitious plans alongside the Local Enterprise Partnership to increase our economy by a third by 2025, getting those 25,000 new jobs and thousands of new homes," he said.

He added that he intended to "press ahead" and that "reassuring noises" have been coming down from central Government about it.

The £25.5 million of unspent cash is from a kitty known as the European Structural and Investment Fund, with the county getting £52.9 million for the period 2014-2020.

The cash is spent via a committee which gets bids from third parties including businesses, colleges, farmers, schools, start-ups, councils and more.

It has also emerged how the fund has supported 3,000 Worcestershire companies so far and created 500 jobs.

Bosses at County Hall say within the last year they have made 13 bids alone, totalling £15 million of that kitty.

Councillor Geraghty said he could not rule out revising the SEP plan at some point due to Brexit, but insisted the county must "try as hard as possible" to stick to it.

Today experts insisted the UK economy was holding firm, defying predictions of doom and gloom.

The FTSE index of the UK’s top 100 companies soared to an 11-month high last night, closing above the 6,700 mark for the first time since August.

The Bank of England has admitted that it saw “no evidence” of a sharp economic slowdown and the pound has gained in strength as a result.

Governor Mark Carney warned in May that Brexit was likely “to have a negative impact in the short-term”, but revealed last night that no such impact could be detected so far.

The Bank’s network of regional agents said UK firms were trying to maintain “business as usual”.

Last weekend four Worcestershire MPs including Robin Walker and Mark Garnier secured jobs as ministers under the new-look Government, giving the county influence over how Brexit is handled.