Sir Jim Ratcliffe says the UK is 'on the slide' as critics point to his tax exile status

From the Newshound archive · first published 21 September 2026.

Ineos billionaire Sir Jim Ratcliffe has declared that the UK is 'on the slide', wading into the debate over Britain's economic direction. The remarks have drawn immediate fire from critics who argue the Manchester United co-owner — who relocated to Monaco — has forfeited the right to lecture the country on its fortunes.

Ratcliffe moved to Monaco as a tax exile, a fact opponents say strips his economic warnings of credibility.

Critics say he has lost the 'moral high ground' on the economy by avoiding the UK tax burden he now criticises others for creating.

The row reignites the broader debate over whether wealthy figures who quit Britain for lower-tax regimes should be taken seriously as economic commentators.