“We as a country now have to determine which relationship [with the EU] we are seeking. The candidate that is able to articulate that, is the best candidate to become PM,” he said.Osborne reiterated that “decisions about tax rises and specific [spending] cuts will be made under a new prime minister.”Osborne refused to say whether he regretted British Prime Minister David Cameron’s decision to put EU membership to a popular vote.“Did I want U.K. to remain: yes, did I fear consequences: yes,” Osborne said when pushed on the wisdom of holding the referendum. “I held nothing back, I have made my argument, people have made a different course.”In the wake of plunging market shares and a record low of the pound, Osborne said “we are in a prolonged period of adjustment.” Also On POLITICO Political chaos unleashed by Brexit pounds markets for another day By Ben White The Remain campaign wasn’t responsible for having a plan in place in case the U.K. voted in favor of leaving the EU, British Chancellor George Osborne told BBC Radio 4 on Tuesday.“It was not the responsibility of those that wanted to remain what plan to follow,” Osborne said. “We have contingency plans for financial stability for Brexit, that is why the banks are secure. We spent a long time preparing that.”The chancellor, who declared earlier on Tuesday that he would not seek to become the next British prime minister, said it was up to the new Tory leader to lay out a post-Brexit plan.