Brexit-backing billionaire Jim Ratcliffe says leaving the EU ‘didn’t turn out as anticipated’

Ineos founder says 2016 vote for UK to leave bloc was ‘largely about immigration’

Brexit-backing billionaire Sir Jim Ratcliffe has said the UK’s exit from the EU “didn’t turn out how people anticipated”.

Sir Jim was a prominent backer of the UK’s withdrawal from the European Union in 2016, but now says the referendum hasn’t delivered what was promised.

He said the referendum “was largely about immigration”, as “vast numbers of people” coming into the country had overburdened the NHS and police. He told Sky News: “That’s what Brexit was all about, and nobody’s implemented that. They just keep talking about it. But nothing’s been done, which is why I think we’ll finish up with the change of government.”

Sir Jim is chair of the global chemical company Ineos, which he founded in 1998, and became minority owner of football club Manchester United in February.

The businessman said he believes the country needs a change from the Conservative government and that he thinks Sir Keir Starmer would do a “very good job” as prime minister.

He also predicted a Labour win at the next general election and blamed a potential Conservative defeat on the party’s implementation of Brexit.

He said: “There’s no question that the Conservatives have had a good run over the last 15, 20 years, and I think most of the country feels it’s probably time for a change, and I sort of get that, really.”

Jim Ratcliffe became a minority owner of Manchester United in February (PA Wire)

Sir Jim met with the Labour leader at Old Trafford last weekend to discuss the redevelopment of the stadium. Although he predicted a Labour election victory, he insisted he is willing to work with whichever party is in power.

Asked whether his company would donate to Labour, he said: “We’re apolitical at Ineos, we just want a successful manufacturing sector in the UK. We’ll talk to either government about that.”

The businessman also criticised the Tories over their handling of the economy, saying the country needs to “get a bit sharper on the business front” and could do with some “competitive energy”.

Sir Jim ranked fourth on the Sunday Times Rich List this week with a fortune of £23.5bn, down two places from last year.