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A hard Brexit will leave the UK “near bankrupt” and “the closure of quite a few businesses”

Saturday, December 15th 2018 - 08:45 UTC
Full article 4 comments
Sir Richard (center) was speaking from the Mojave Desert in California after attending the latest Virgin Galactic space launch Sir Richard (center) was speaking from the Mojave Desert in California after attending the latest Virgin Galactic space launch

Sir Richard Branson has warned that the UK will be left “near bankrupt” in the event of a hard Brexit. He told the BBC he was “absolutely certain” that leaving the EU without a deal would lead to the closure of “quite a few British businesses”.

He said Prime Minister Theresa May had admitted that her version of Brexit was not as good as staying in the EU. Meanwhile, a pro-Brexit business group has urged the government to adopt a “managed no-deal” approach.

Sir Richard was speaking from the Mojave desert in California after attending the latest Virgin Galactic space launch.

“I think Theresa May needs to be 100% honest with the public,” Sir Richard said. “She's admitted that a hard Brexit would be an absolute disaster for the British people.

”From our Virgin companies' point of view, a hard Brexit would torpedo some of our companies,“ he said, adding that Virgin Holidays would be hit as the pound would drop to parity with the dollar and fewer people would be able to afford to go abroad.

”If British business suffers, British people will suffer, and it's really really important that people realize that.“

Sir Richard was speaking at the end of a week that saw Mrs May delay a Parliamentary vote on the Brexit withdrawal agreement, then win a vote of no confidence brought by MPs unhappy with it.

At the same time, a group of prominent Leave-supporting business leaders has called on the government to abandon Mrs. May's provisional deal with the EU and focus instead on what it calls a ”managed no-deal“.

John Mills, the chairman of multi-channel retailer JML, told the BBC that this would involve many small deals with the EU and others, instead of going for an overall agreement.

He said: ”You need to start off having deals on aviation, and moving of drugs, and all this sort of thing, making sure the ports run as smoothly as possible, just to minimize the amount of disruption that takes place.“

This could then lead to a bigger ”free-trade deal on a comprehensive basis”, he added.

Categories: Politics, International.

Top Comments

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  • Don Alberto

    There is absolutely no reason to fear the consequences of a hard Brexit.
    It will barely be worse than 1947.

    Dec 15th, 2018 - 09:42 pm +1
  • :o))

    REF: “near bankrupt” and “the closure of quite a few businesses”:

    Waking up from the stupor a bit too early aren't we?

    Dec 18th, 2018 - 10:28 am +1
  • Conqueror

    Poor Dickie. What would he know about WW2? As I understand it, there was a bit of hardship due to some German git bombing towns and cities, sinking ships and killing people. Then there were the French surrendering. The Russians wanting supplies and a “second front” all the time. And the Americans sitting out the first three years and then having to be taught how to do things.

    And yet, if Britain hadn't fought, Hitler and even Mussolini would have won. Someone went to Norway. Then went to the Mediterranean, North Africa and the South Atlantic and won.

    And now the French and the Germans, particularly, are showing their “gratitude”. It seems that Britain loaned post-war Germany lots of money. Then “let it off” £trillions in repayments. Meanwhile, Britain had saved a large part of France's army. Who, strangely, called themselves the Free French. Although it was Britain that gave them accommodation, food, clothing, weapons, ammunition, transport.

    Dec 16th, 2018 - 12:19 pm 0
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