18/09/26
By AfterPost
What he said — directly to BBC:
The Ineos founder, worth an estimated £15bn and tax-resident in Monaco since 2020, spoke to the BBC's "Big Boss" series:
> "I think the UK, unfortunately, it was a fantastic place. We had the greatest empire in the world. We were a great people. We won two world wars. We're good, honest folk. But unfortunately, at the moment, I think the UK is on the slide. It's quite difficult to see how we arrest it."
> "We need politicians who are tough enough to deal with some very difficult problems, and we know what the problems are... And we need politicians who will make decisions which are good for the country, not good for themselves and their party. And we haven't had one of those for a long time."
When pressed on priorities, he listed two: *taxes and immigration.
> "In America they applaud people who create wealth. Unfortunately the UK has got a bit of a green eye towards wealth at the moment."
He said for him to return to the UK "things would have to get better."
Energy warning:
Ratcliffe, whose company operates the Forties pipeline carrying a third of North Sea oil, called failure to approve Jackdaw and Rosebank fields "insanity" and warned UK gas storage is so low the country could "run out of gas" in a cold snap this winter.
"The risk you've got this winter is that we run out of gas."
Government response:*
A UK government spokesperson said business investment had increased in the last two years and pushed back on the energy claim: "We have a diverse energy mix and are confident in our security of supply."
Context — why this matters:*
1. Not first controversy: In February, Ratcliffe told Sky News the UK had been "colonised by immigrants," later apologising if his language "offended some people." Prime Minister Keir Starmer called the remarks "offensive and wrong" at the time.
2. Billionaire exodus:His Monaco move in 2020 has been followed by others including Lakshmi Mittal and Chris Rokos, amid debate over non-dom and North Sea windfall taxes.
3. *Man Utd factor:* Ratcliffe owns ∼29% of Manchester United and controls football operations. The club has undergone 450 redundancies in two years under his "transformation plan," making any political comment high-profile.
*Fair assessment:*
Ratcliffe's core business argument — high marginal tax rates + policy uncertainty on North Sea oil and gas are driving investment elsewhere — is shared by other North Sea operators and is reflected in reduced drilling approvals. Industry body Offshore Energies UK has made similar warnings.
His wider cultural argument — that Britain suffers from "politics of envy" and lacks tough leadership on immigration/benefits — is a political opinion, not an economic fact. UK net migration is high by historical standards (∼700k+ in recent years), but unemployment benefits claims (9M figure he previously cited includes students, carers, long-term sick) are debated.
What is verifiable is the sentiment shift: business confidence surveys in 2025-26 have shown UK CEOs citing tax and energy costs as top concerns, while the government says it is delivering growth.
*Bottom line:* Quote is authentic, from BBC, not fake news. It reflects a Monaco-based billionaire's view, not an official Man United position.
Source: BBC News, Daily Sabah summary of BBC interview — 19 September 2026.