‘The risk you’ve got this winter is that we run out of gas’
The co-owner of Manchester United FC, Sir Jim Ratcliffe, has said he has ‘no confidence in the UK’ and that the country is ‘on the slide’
One of Britain’s wealthiest businessmen, Sir Jim said Britain was in decline because of high taxes and immigration.
The founder of chemicals giant Ineos, who moved to Monaco from the UK in 2020, told the BBC’s Big Boss Interview: “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.
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“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.” Asked what issues politicians should focus on, Sir Jim said immigration was ‘clearly one’, as well as high taxes.
Earlier this year, Sir Jim told Sky News the UK had been ‘colonised by immigrants’ before he said he was sorry if those remarks had ‘offended some people’.
The billionaire also said failing to invest further in North Sea resources by handing licences for the Jackdaw and Rosebank oil and gas fields amounted to “insanity”, and warned the UK’s reliance on energy imports meant the country could “run out of gas” if there was a cold spell this winter.
He said: “The risk you’ve got this winter is that we run out of gas. If we have a really sharp cold spell, then there is conceivably the possibility that we’ll run out of gas and have to switch the industry off.”
It comes after Andy Burnham insisted he was “determined” to reach net zero by 2050. The Prime Minister faces pressure from both sides over looming decisions on whether to approve the controversial Jackdaw and Rosebank fields.
Climate campaigners have urged him to block the proposed new developments in the North Sea while the oil and gas industry and opposition politicians have argued they would create thousands of jobs and cut bills. Permission for one or both would throw his commitment to net zero into question.
Sir Jim also said the UK had “a bit of a green eye towards wealth at the moment”, “encouraging” the wealthiest to relocate.
He told the podcast: “In America they applaud people who create wealth. And the good thing about those people who create wealth is that they then spend that wealth in the economy in which they’re resident. Unfortunately, the UK has got a bit of a green eye towards wealth at the moment.
“And, unfortunately, with the things that they’ve been doing, they’ve been encouraging the people who have created wealth to leave the UK because it’s just become uncomfortable for them for tax reasons or whatever. Also, crime on the streets has gone up as well, which doesn’t help.”
Asked if he was planning on returning to the UK, the businessman said: “Not at the moment, no. I don’t see growth being tackled. “I would like to see the benefits bill cut in half and all the savings spent on robotics and AI.”
Asked whether AI would have an impact on the job market and leave many jobless, Sir Jim said: “No, no. I mean, you think about the two biggest industries that are going to change our lives, at the moment, is AI and robotics. “I mean, it’s going to have fundamental changes to the way in which we live, the way in which we work, and the UK is nowhere at the moment in those two technologies.”











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