Labour Minister Slams 'Tax Exile' Billionaire's UK 'On the Slide' Remarks

Labour Party chair Bridget Phillipson has criticized Manchester United co-owner Jim Ratcliffe's assertion that the United Kingdom is in decline due to high taxes and immigration. Ratcliffe, who moved to Monaco in 2020, stated that Britain is "on the slide" and expressed a lack of confidence in the country's trajectory.

Phillipson argued that Ratcliffe, the founder of chemicals giant Ineos, forfeits his "moral high ground" by making such pronouncements while choosing to be a "tax exile." "I do think you lose the moral high ground in the argument you make... by making these kinds of pronouncements while choosing to make decisions that he is within his rights to make to become a tax exile," Phillipson told the BBC's Sunday with Laura Kuenssberg program.

She also linked Ratcliffe's comments to Brexit, noting that he was a supporter of the UK's departure from the European Union. "And, of course, he was also someone, as I understand it, who was a big supporter of Brexit. That was over a decade ago now, but we've seen the impact of Brexit on our economy," Phillipson stated.

Phillipson asserted that the current government is committed to improving the UK's trading relationship with the EU as a means to foster stronger economic growth. She pointed to signs of business investment and growth within the economy, while acknowledging that more work remains to be done, which Chancellor John Healey will outline.

Ratcliffe had previously told the BBC's Big Boss Interview podcast that while Britain "was a fantastic place," it is now "on the slide" and that he has "no confidence" in the country. He identified immigration and high taxes as key issues politicians should address.

Phillipson's remarks follow similar criticism from Treasury minister Torsten Bell, who suggested on social media that Ratcliffe possesses a "patriotism problem." Bell claimed Ratcliffe "hates his own country while complaining he doesn't get big enough subsidies from it" and also lamented the impact on manufacturing resulting from Brexit, which Ratcliffe supported.

Earlier in the year, Ratcliffe made controversial remarks about immigration, stating the UK had been "colonised by immigrants," for which he later apologized if the comments caused offense.