The founder of chemicals giant Ineos, who moved to Monaco from the UK in 2020, had claimed the country is on the slide, hitting out at high taxes and immigration
One of Britain’s wealthiest businessmen Sir Jim Ratcliffe has been accused of “living on another planet” after claiming he had “no confidence in the UK”.
The Manchester United co-owner had claimed the country is on the slide, hitting out at high taxes and immigration.
The founder of chemicals giant Ineos, who moved to Monaco from the UK in 2020, Sir JIm had also said failing to invest further in North Sea resources amounted to “insanity”, after the PM Andy Burnham said he was committed to Net Zero by 2050.
Responding, TUC General Secretary Paul Nowak said: “I think Jim Ratcliffe lives on a different planet, never mind country, to the rest of us. Yes, Britain has problems – not least the growing influence of overseas-based billionaires on our politics.
“But real patriotism isn’t talking down your country while you officially reside in a lavish Monaco property. It’s paying your fair share of taxes and contributing to an economy that works for everyone, not just the super-rich.”
The billionaire had criticised the state of the UK, and praised the British Empire in an interview with the BBC.
He said: “I think the UK, unfortunately, it was a fantastic place. We had the greatest empire in the world. We were a great people. We won two world wars. We’re good, honest folk.
“But unfortunately, at the moment, I think the UK is on the slide. It’s quite difficult to see how we arrest it. Two things: we need politicians who are tough enough to deal with some very difficult problems, and we know what the problems are.
“And we need politicians who will make decisions which are good for the country, not good for themselves and their party. And we haven’t had one of those for a long time.”
Responding, a Lib Dem spokesperson said: “It’s hard to take economic lectures on Britain’s supposed decline from a tax exile sitting in Monaco – if he truly cared about the country’s future perhaps he should pay his fair share.”
Earlier this year, Sir Jim sparked a furious backlash after claiming the UK had been “colonised by immigrants” before he said he was sorry if those remarks had “offended some people”.
In recent weeks Manchester United supporters protested against the Glazer family and Sir Jim Ratcliffe, who axed 450 jobs at the club as part of a brutal cost-cutting and restructuring overhaul.
Last week United fan groups took to the streets to protest against the club’s recent crackdown on touting, which saw 685 season tickets banned. The club’s heavy-handed approach to dealing with the problem has sparked a furious reaction, with fan group The 1958 saying by suspending loyal season ticket holders without “compelling evidence”.
Responding, a Government spokesperson said: “We are working with businesses to deliver growth in every postcode, by creating the right conditions for companies to invest, with business investment and productivity both increasing since the start of the Parliament.
“Oil and gas will continue to play an important role in our energy system for decades to come.
“The transition to homegrown clean power is the only way to deliver energy and financial security for families and businesses.”