fromLondon Business News | Londonlovesbusiness.com
1 day agoManchester United owner to quit UK for the US over Reeve's 'unstable fiscal regime' - London Business News | Londonlovesbusiness.com
Billionaire Sir Jim Ratcliffe who owns Manchester united and the energy empire Ineos has ceased all investment into Britain and will place £3 billion into US operations. Ratcliffe has blamed Rachel Reeve's "unstable fiscal regime" as the main factor in the shift and warned he will not invest into the UK as he cannot be sure as to what the "future tax rates will be." Brian Gilvary who is in charge of Ineos's energy sector said they have "stopped investing in Britain" and will place future investment into the US which will be a big win for Donald Trump. Gilvary said that the UK has "one of the most unstable fiscal regimes in the world" in the energy and natural resource sectors.
UK politics