Billionaire Man United owner says he has lost confidence in the UK

Billionaire Man United owner says he has lost confidence in the UK. Figure caption, Sir Jim Ratcliffe says the UK economy is "on the slide"BySimon Jack and Lucy Hooker, Business editor & business reporterPublished19 September 2026, 00:06 BSTOne of Britain's richest people, Sir Jim Ratcliffe, says he has lost confidence in the UK, describing the country as "on the slide".

What happened

Image source, Getty ImagesImage caption, Michael Carrick has won 14 out of 23 games since taking charge at Manchester United in January 2026BySimon StoneManchester United reporterPublished18 September 2026Manchester United boss Michael Carrick says it would be "ridiculous" to start thinking how long he has left in the job after "two or three" bad results. After United lost at home to a Manchester City side reduced to 10 men after 23 minutes, Brighton became the first side to come from two goals down to win at Old Trafford in 50 years in their Carabao Cup tie.

The founder of petrochemical giant Ineos, who also owns a large stake in Manchester United, said the UK was in decline due to a combination of high taxes and high immigration. In response to the billionaire's criticism, the government said it was working to deliver growth and that business investment had increased in the last two years. The businessman's UK exit has been followed by other high-profile billionaires, including steel tycoon Lakshmi Mittal and most recently hedge-fund boss Chris Rokos.

Related topicsJim RatcliffeIneosCompaniesNorth Sea oil and gasOil & Gas industryUK economyMore on this storyUK's third-biggest taxpayer to leave for GreecePublished8 SeptemberRatcliffe sorry language 'offended some' after immigration commentsPublished12 FebruaryWho is billionaire Sir Jim Ratcliffe and how did he make his money? "Trump has previously insisted that Greenland must be made a part of the United States.

The wider picture

The deal as described in Trump's post appears to stop far short of his prior insistence that Greenland must be made a part of the United States. Greenland has maintained it is not for sale, and the European Union earlier this year united to rebuke Trump over his push to acquire the island. ""There will be NO COST to the United States," he wrote. The Danish prime minister's office in a press release later Friday said that the three governments expect to sign the agreement at the United Nations General Assembly next week.

United supporters responded to the midweek setback with boos and by chanting against their team. "In terms of future and ownership and how long I've got in the job, that's totally not in my thinking. "There has been no sense from senior figures inside United that Carrick's position is under threat. "Figure caption, Carrick dismisses need for more emotionYet it is the measure of the noise around a club of United's size that is often feels that way.

What has been reported

"Externally, the inquests have tended to focus around recruitment – or lack of it, specifically at left-back – United's finances and debt levels, Carrick's relative inexperience and, other than assistant boss Steve Holland, that of his coaches. "Follow Manchester United on BBC SoundsPre-match, post-match and topical United content Listen on SoundsSubscribe and listen for everything you love about the Red DevilsRelated topicsManchester UnitedFootballMore on this storyCarrick 'not bothered' by pressure – but should he be after this latest mess?

Ineos founder Sir Jim Ratcliffe tells the BBC he thinks the country is "on the slide" and calls for more investment in the North Sea. He told the BBC failing to invest further in North Sea oil and gas amounted to "insanity" and warned gas storage was so low that the UK could "run out of gas" if there was a cold snap this winter. A spokesperson said they did not foresee any problems with gas supply: "We have a diverse energy mix and are confident in our security of supply.

"Sir Jim, whose wealth is estimated to be around £15bn, has prompted controversy in the past with his comments on immigration. He was a supporter of Brexit but has been a tax resident in Monaco since 2020. Sir Jim said the politics of envy was driving people away from the UK.

What happens next

"In America they applaud people who create wealth," he said. "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". Prime Minister Andy Burnham has said he will take a "pragmatic approach" to oil and gas, but one of the biggest decisions facing the government, whether to give the go-ahead to further development of the oil and gas fields at Rosebank and Jackdaw, is still waiting to be resolved.

Sir Jim criticised the hesitation and suggested high taxes on North Sea operators were threatening the sector's viability. Tax on energy company profits is being reformed, but won't be fully implemented until 2030. Ineos operates the Forties pipeline which transports about 30% of the UK's North Sea oil.

The report has been compiled by The Daily Waves using information reported across bbc.co.uk, cnbc.com. Details are presented according to the information available at the time of publication and may change as authorities, organisers or other relevant parties provide updates.