One of the most vocal Brexit supporters in the world of big business has conceded that the UK’s decision to quit the EU in 2016 ‘did not turn out as anticipated’. Sir Jim Ratcliffe, the billionaire owner of the INEOS group, has been left to rue ‘life after leave’.
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Who is Jim Ratcliffe, and what are his views on Brexit?
Ratcliffe also owns a minority stake in Manchester United – so he’ll know a thing or two about disappointing under-performance. Despite his staunch and apparently ‘patriotic’ stance on Brexit, the mega-rich mogul hasn’t always put his money where his mouth is.
That’s because Sir Jim famously moved INEOS’ manufacturing operations out of the UK after Brexit, citing the need for their headquarters to operate in a more favorable business environment and tax regime.
Appearing on Sky News earlier today, Ratcliffe expanded on his views about the referendum result, blaming mass immigration for hindering the country. He also claims that nobody has yet ‘implemented it properly’.
INEOS chief rues ‘missed opportunities’ in post-EU Britain
Next month marks eight years since the votes were counted, and Britain was put on a course to split from the EU. The result has been somewhat underwhelming, and the sunlit uplands promised by the likes of Sir Jim are yet to take shape.
“Most of the country feels like it’s time for a change. I get that. INEOS is apolitical, we want success in the UK. Brexit, unfortunately, did not turn out how anticipated. It was largely about immigrant and people were getting fed-up.”
“A small island like ours can’t cope with high immigration. It overwhelms health services and the like, the country is designed for 60 million people, we’ve now got 70 million. That’s what Brexit was about, but nobody has implemented it.” | Jim Ratcliffe