Richard Branson: Chinese investors pulling out of UK
Virgin owners business partners will not invest money in Britain after Brexit vote
- The tycoon says that the decision to leave the EU will cost thousands of jobs
- Voters were misled by the Leave campaign according to Branson
Updated : 12:46
British tycoon Sir Richard Branson has warned that Chinese investors are already pulling out of the United Kingdom after the result of the EU referendum last week.
While speaking to the Guardian, Branson said that he met with a group of Chinese businessmen on Monday morning who were unhappy about Brtain's exit from the bloc.
"They have invested heavily in England and they are now going to stop investing and withdraw investments they’ve already made," Branson confirmed.
“I’m afraid that based on misinformation, people voted for Brexit, which is basically voting for a way of shooting themselves in the foot. The last 2 days has been absolute pandemonium worldwide in the markets, the pound crashing, the stock markets crashing, and we are heading rapidly towards a recession again."
"I’m afraid that based on misinformation, people voted for Brexit" Richard Branson
The Virgin owner described it as a very sad situation for the nation which he owes a lot. He lambasted those politicians who misled the voting public in the days and weeks leading up to the crucial vote.
“Businesspeople do not want politicians to completely and utterly wreck the hard work they’ve done for years and years and that is effectively what happened. The sad thing is I really think Brexiters were misled and did not realise. People said it was scaremongering. It wasn’t scaremongering and the last 48 hours have proved that.”
This morning Branson confirmed to the paper that he is supporting calls for a second referendum, after his challenger bank Virgin Money's shares faced a significant loss of 40% since Friday morning.