Billionaire Man United owner says he has lost confidence in the UK
Summary
Sir Jim Ratcliffe, a wealthy businessman and owner of part of Manchester United, says he has lost trust in the UK because of high taxes and immigration. He warns that the UK might face gas shortages this winter and criticizes the government for not investing enough in North Sea oil and gas.Key Facts
- Sir Jim Ratcliffe is the founder of Ineos and owns a large part of Manchester United.
- He describes the UK economy as declining due to high taxes and immigration.
- Ratcliffe says not investing more in North Sea oil and gas is a bad decision.
- He warns that gas stores in the UK are low, which could cause shortages in a cold winter.
- The government says business investment is rising and gas supply is secure.
- Ratcliffe moved his tax residence to Monaco in 2020 and supports Brexit.
- Other rich people like Lakshmi Mittal and Chris Rokos have also left the UK.
- The government is still deciding on new North Sea oil projects but wants to transition to clean energy over time.
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