Billionaire Man United owner loses moral high ground after tax exile, Labour chair says

The Labour Party has criticised Sir Jim Ratcliffe, co‑owner of Manchester United and founder of Ineos, for undermining his moral standing after choosing to live as a tax exile in Monaco. The Party said Sir Jim Ratcliffe loses "the motivation precocious ground" by making statements astir the UK portion surviving successful taxation exile. Speaking to Sunday with Laura Kuenssberg, Bridget Phillipson said she would treat the billionaire's claim that the UK was "on the slide" with a "pinch of salt". Sir Jim told the BBC he has lost confidence in the UK because of high taxes and high immigration, noting he has been a tax resident in Monaco since 2020 and said "things would person to get better" in the UK for him to return. When questioned about the remarks, Phillipson said Sir Jim loses "the motivation precocious ground" by "making these kinds of pronouncements portion choosing to marque decisions, that helium is wrong his rights to make, to go a taxation exile". Asked whether it concerns her that job‑creators and high‑tax payers are leaving the UK, Phillipson said she was "optimistic astir our country's prospects". She pointed out that other high‑profile billionaires, including steel tycoon Lakshmi Mittal and, according to a BBC link, hedge‑fund manager Chris Rokos — described as the UK's 3rd biggest taxpayer — have also left, referencing hedge-fund brag Chris Rokos. Phillipson argued the country is in a strong position ahead of next month's Budget, citing Andy Burnham's "sense of anticipation and optimism whilst recognising that galore families are inactive struggling and determination is much to do." She added, "Of course, determination are challenges, including large planetary headwinds, but I fundamentally judge that we are successful a beardown presumption going into this fund due to the fact that of the decisions taken implicit the past 2 years, and I judge our country's champion days prevarication up of us." Phillipson declined to speculate on possible tax rises in the Budget on 28 October, reiterating the government’s commitment to fiscal discipline.