Patriotism, offshore edition
Sir Jim Ratcliffe’s claim that Britain is “on the slide” and too hostile towards wealth puts his criticism of UK taxation alongside his own decision to live in Monaco. | Today’s Political Cartoon.
🔍 WHY THIS STORY MATTERS
Ratcliffe’s intervention raises a wider question about wealth, taxation and contribution: what Britain should expect from its richest citizens, and what they believe Britain should offer them in return.
KEY TAKEAWAYS...
● Sir Jim Ratcliffe says Britain is “on the slide” and too hostile towards wealth.
● He argues taxation is among the reasons wealthy people leave the UK.
● Ratcliffe has resided in Monaco since 2020.
S ir Jim Ratcliffe has criticised Britain for being “on the slide”, invoking its imperial past while arguing that taxation is among the reasons wealthy people are leaving the country.
The billionaire founder of Ineos and co-owner of Manchester United made the comments during BBC News’s Big Boss Interview. Ratcliffe has resided in Monaco since 2020 and said he has no immediate plans to return to the UK.
“We had the greatest empire in the world. We were a great people. We won two world wars,” Ratcliffe said, before adding that Britain was now “on the slide”.
His criticism extended to attitudes towards wealth. Ratcliffe said Britain had “a bit of a green eye towards wealth” and contrasted the country with the United States, where, he said, people who create wealth are applauded.
He argued that wealthy people spend money in the economies where they live, while Britain had been encouraging wealth creators to leave because the country had become uncomfortable for them “for tax reasons or whatever”.
Ratcliffe’s own residence provides significant context to that argument. He has lived in Monaco, which has a favourable tax regime, since 2020. Asked whether he intended to return to Britain, he replied: “Not at the moment, no.”
Britain’s tax burden has risen to about 35.3% of GDP, according to figures cited in reporting of the interview. However, the Office for Budget Responsibility has found that the UK burden remains below the average of 14 western European economies.
Ratcliffe’s intervention comes amid tensions with sections of Manchester United’s support. The Manchester United Muslim Supporters’ Club called for Ratcliffe and the Glazer family to leave the club following the interview, describing his latest comments as “deeply disappointing and completely unacceptable”.
Ratcliffe has also faced opposition from supporters over increased ticket prices, job cuts and a crackdown on ticket touting that resulted in 685 season tickets being revoked.
His latest remarks put two competing arguments into focus: Ratcliffe contends that Britain risks driving away people who create wealth, while his residence in Monaco raises a broader public debate about taxation, contribution and what Britain can reasonably expect from its wealthiest citizens.
🔮 WHAT MATTERS NEXT...
🎯 WHAT TO WATCH NEXT:
● Whether Ratcliffe develops his criticism of UK tax policy into specific proposals for government.
● Whether the government responds further to his arguments on taxation, investment and energy security.
● Whether opposition among Manchester United supporters grows following his latest intervention.
● Whether Ratcliffe changes his stated position that he has no immediate plans to return to Britain.
🎯 MOST LIKELY OUTCOME:
● Ratcliffe’s comments are likely to remain part of the wider debate about taxation, wealth and the responsibilities of wealthy Britons living overseas.
🎯 WHY THIS MATTERS:
● The dispute illustrates the tension between attracting private wealth and deciding how the costs of maintaining public institutions should be shared.
GOING FURTHER
Manchester United Muslim fans group calls on co-owner Jim Ratcliffe to quit | THE GUARDIAN
Sir Jim Ratcliffe, UK’s richest person, moves to tax-free Monaco | THE GUARDIAN
The UK’s tax burden in historical and international context | OFFICE FOR BUDGET RESPONSIBILITY
Starmer tells Jim Ratcliffe to apologise for saying UK ‘colonised’ by immigrants | THE GUARDIAN
Jim Ratcliffe apologises for ‘choice of language’ after saying immigrants ‘colonising’ UK | THE GUARDIAN
Ratcliffe says immigrants cost too much, while Ineos lobbies for state funding | THE GUARDIAN
Guardian view on Sir Jim Ratcliffe: Britain does not need political lectures from a billionaire tax exile | THE GUARDIAN
Sources:
▪ This piece was first published in Europeans TODAY on 20 September 2026.
