Britain will not end up leaving the European Union despite voting for Brexit, according to Austria’s finance minister.

Hans Jörg Schelling said he was confident there would still be 28 member countries in the EU in five years' time.

He told German business newspaper Handelsblatt that European leaders were discussing “all possibilities” from Britain remaining in the union to “a free-trade agreement based on the Swiss or Norwegian model”.

However Mr Schelling also suggested the United Kingdom could break up as Scotland and Northern Ireland – who voted for Remain – could choose to remain members of the EU while England and Wales go it alone.

The Leave camp won a narrow victory in the referendum on Britain’s continued membership of the EU but there have been some questions about the legality of the result.

The Government’s own lawyers have told the minister responsible for Brexit, Oliver Letwin, that it can trigger Article 50 of the Lisbon Treaty, which begins the formal exit process, using the royal prerogative and without parliamentary approval.

However, after that, MPs would still have to vote to repeal the European Communities Act 1972 in order to leave the EU, the Government's lawyers believe.

Brexit reactions – in pictures Show all 10 1 /10 Brexit reactions – in pictures Brexit reactions – in pictures Supporters of the Stronger In campaign look at their phones after hearing results in the EU referendum at London's Royal Festival Hall AP Brexit reactions – in pictures Leave supporters cheer results at a Leave.eu party after polling stations closed in the Referendum on the European Union in London Reuters Brexit reactions – in pictures Mr Cameron announces his resignation to supporters Getty Brexit reactions – in pictures Donald Tusk proposes that the 27 remaining EU member states ‘start a wider reflection on the future of our union’ Getty Brexit reactions – in pictures Ukip leader Nigel Farage greets his supporters on College Green in Westminster, after Britain voted to leave the European Union PA Brexit reactions – in pictures Supporters of the Stronger In Campaign react as referendum results are announced today Getty Brexit reactions – in pictures Boris Johnson leaves his home today to discover a crowd of waiting journalists and police officers Getty Brexit reactions – in pictures Leave EU supporters celebrate as they watch the British EU Referendum results being televised at Millbank Tower in London Rex Brexit reactions – in pictures Supporters of the Stronger In Campaign react as results of the EU referendum are announced at the Royal Festival Hall Reuters Brexit reactions – in pictures Supporters of the Stronger In campaign react after hearing results in the EU referendum at London's Royal Festival Hall PA

Meanwhile, the former Attorney General, Dominic Grieve MP, told one of his constituents a second referendum vote would be legal if public opinion shifted significantly against Brexit.

He said although the first referendum must be “treated with respect” it was not necessarily set in stone.