#ineos

#ineos

You can't have an economy with nine million people on benefits and huge levels of immigrants coming in. I mean, the UK is being colonised. It's costing too much money. The UK has been colonised by immigrants. However, the comments sparked controversy and were heavily criticised by Prime Minister Sir Keir Starmer, Greater Manchester Mayor Andy Burnham and football campaign group Kick It Out.

Shocked to learn that a tax-exiled English expat who made his billions squeezing chemicals plants doesn't have liberal, let alone accurate, views on immigration. Or at least, in public anyway. It seems highly likely Sir Jim Ratcliffe knew what he was doing in the course of his now semi-recanted Sky News interview. And it is above all vital that at least one part of his empire of influence football, sport, Manchester United rejects it, as the club have done to some extent in their statement.

The backlash against Sir Jim Ratcliffe's comments about immigrants to the UK costing too much for the state comes at an awkward time for his loss-making Ineos business. The billionaire industrialist's sprawling empire, which ranges from chemicals to car making, has sought government financial support worth hundreds of millions of pounds and is lobbying for further state aid from the UK and EU to stay afloat.

Billionaire Sir Jim Ratcliffe's petrochemicals group Ineos has announced plans to cut 60 jobs at its Hull Acetyls plant in East Yorkshire, citing "dirt-cheap, carbon-heavy imports from China" and "sky-high" UK energy costs.

Sir Jim Ratcliffe's chemicals empire, Ineos, has introduced a company-wide hiring freeze as it prioritises debt reduction following years of rapid expansion and weakening market conditions. The British-founded group confirmed a "general recruitment freeze" while tightening capital spending after acquiring assets worth around €2.7 billion across the US, Europe and Asia between 2022 and 2024. The move comes as Ineos grapples with overcapacity in the chemicals market, new US tariffs and falling prices that have squeezed margins across its core businesses.

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.