Billionaire Man United owner loses moral high ground after tax exile, Labour chair says
The billionaire businessman told the BBC he has lost confidence in the UK due to a combination of high taxes and high immigration.
The Labour Party chair has said Sir Jim Ratcliffe loses "the moral high ground" by making statements about the UK while living in tax exile.
Speaking to Sunday with Laura Kuenssberg, Bridget Phillipson said she would take the billionaire businessman's comments that the UK was "on the slide" with a "pinch of salt".
Sir Jim, the founder of petrochemical giant Ineos and Manchester United's co-owner, told the BBC he has lost confidence in the UK due to a combination of high taxes and high immigration.
But, Philipson argued the country was in a good position ahead of the Budget next month, and Andy Burnham has shown a "sense of hope and optimism whilst recognising that many families are still struggling and there is more to do."