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Labour Party chair Bridget Phillipson criticized Manchester United co-owner and "tax exile" Jim Ratcliffe for claiming that Britain is in decline due to high taxes and immigration. Ratcliffe, who moved to Monaco in 2020 to avoid UK taxes, argued that the country was once great but is now "on the slide." Phillipson told the BBC's Sunday show that Ratcliffe loses moral authority by making such statements while opting for tax exile status himself. She also noted that the current government aims to improve trade relations with the EU and highlighted positive signs of economic growth in terms of business investment.
Written locally by qwen2.5:14b on 2026-09-20,
using this article's own text rather than the other coverage of the
same event (that is the story summary below).
Story summary
Sir Jim Ratcliffe, founder of petrochemical giant Ineos and co-owner of Manchester United, has expressed a loss of confidence in the UK, describing it as "on the slide" due to high taxes and immigration. Ratcliffe warned that without further investment in North Sea oil and gas, the country could face energy shortages if there is a cold spell this winter. The billionaire moved his tax residence to low-tax Monaco in 2020.
In response, Labour Party chair Bridget Phillipson criticized Ratcliffe for making such statements while living as a "tax exile." Phillipson argued that Ratcliffe loses the moral high ground by criticizing Britain from abroad. She also highlighted the government's efforts to improve the UK's economic outlook and trade relationship with the EU.
High-profile departures of wealthy individuals like Ratcliffe and hedge-fund boss Chris Rokos raise concerns about the impact on the UK economy and its reputation as a place for business investment.
Written for “UK Owner Critiques Country” on 2026-10-05,
grounded in this article and the 4 other(s) covering the same event.
- See more Daily Mail on Google - save us as a Preferred Source
Labour's Bridget Phillipson today lashed out at Manchester United's 'tax exile' co-owner Jim Ratcliffe after he claimed the UK is 'on the slide'.
asserted
UK → see → slide
The founder of chemicals giant Ineos, who moved to low-tax Monaco from the UK in 2020, said Britain is in decline because of high taxes and immigration.
asserted
Britain → move → taxes
Ms Phillipson, the Labour Party chair, has now become the latest Government minister to push back against Sir Jim's remarks.
asserted
Phillipson → become → remarks
She claimed the multi-billionaire loses the 'moral high ground' by making 'pronouncements' about the UK while deciding to be a 'tax exile'.
'
asserted
billionaire → claim → UK
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,' Ms Phillipson told the BBC's Sunday with Laura Kuenssberg show.
asserted
Phillipson → think → show
'And, of course, he was also someone, as I understand it, who was a big supporter of Brexit.
asserted
who → understand → Brexit
That was over a decade ago now, but we've seen the impact of Brexit on our economy.'
asserted
we → see → economy
Labour's Bridget Phillipson lashed out at Manchester United's 'tax exile' co-owner Jim Ratcliffe after he claimed the UK is 'on the slide'
asserted
UK → lash → slide
Ms Phillipson, the Labour Party chair, has become the latest Government minister to push back against Sir Jim's remarks
Ms Phillipson added: 'That's why this Government is committed to making sure we do have a better trading relationship with the EU, which will be a central part of how we make sure we do see stronger growth.
asserted
see → become → growth
But on that point about growth and business, we are seeing strong signs in terms of business investment.
asserted
we → see → investment
We have seen good levels of growth within the economy.
asserted
We → see → economy
Absolutely, and that's what the Chancellor (John Healey) will be determined to set out.'
asserted
Chancellor → set → what
Sir Jim had claimed Britain 'was a fantastic place' but is now 'on the slide' and that he has 'no confidence' in the country.
asserted
he → claim → country
'We had the greatest empire in the world.
asserted
We → have → world
We won two world wars.
asserted
We → win → wars
We're good, honest folk,' he told the BBC's Big Boss Interview podcast.
asserted
he → tell → podcast
'But unfortunately, at the moment, I think the UK is on the slide.
asserted
UK → think → slide
It's quite difficult to see how we arrest it.'
asserted
we → see → it
Asked what issues politicians should focus on, Sir Jim said immigration was 'clearly one' as well as high taxes.
asserted
immigration → ask → issues
Ms Phillipson is the second Labour minister to criticise Sir Jim over his comments.
asserted
Phillipson → criticise → comments
Treasury minister Torsten Bell suggested in a social media post on Saturday that Sir Jim has a 'patriotism problem'.
uncertain
Jim → suggest → problem
He claimed Sir Jim 'hates his own country while complaining he doesn't get big enough subsidies from it' and 'laments the hit to manufacturing driven by a Brexit he supported'.
asserted
he → claim → Brexit
Earlier this year, Sir Jim told Sky News the UK had been 'colonised by immigrants' before he said he was sorry if those remarks had 'offended some people'.
asserted
remarks → tell → people
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