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LONDON (Reuters) - Britain urgently needs to establish a new relationship with the European Union, but should not serve its notice to quit the bloc until this new model had become clear, finance minister George Osborne told business leaders on Tuesday.

“The truth is, for all of your businesses, that uncertainty will only really be resolved when we come to an agreement ... on the relationship we now want with our European partners...” Osborne said at a conference hosted by The Times newspaper.

“And I think that’s where the urgency is now required.”

He added that Britain should not trigger its two-year notice period to leave the EU, known as Article 50, until this relationship had become clear.