The former chairman of Liverpool FC put across his devastatingly blunt description of Brexit during an LBC interview today.
Sir Martin Broughton was responding to a Nick Ferrari question on whether Britain remains an attractive place to invest post-Brexit.
A recent report from the Peterson Institute for International Economics found the split with the EU has reduced UK trade openness and foreign direct investment (FDI) inflows, concluding that new border frictions and higher transport costs pose new barriers to trade.
The institute found FDI inflows are unlikely to return to levels reached in the 1990s and 2000s under New Labour.
Commenting on the business environment, Sir Martin said: “Making it difficult to trade with your biggest market is a dumb thing to do.”
Watch his comments in full below:
Related: UK’s top civil servant warned Johnson is ‘nationally distrusted’, new leak shows