Ineos Founder Sir Jim Ratcliffe Says He Has Lost Confidence in UK, Calls for North Sea Investment

Sir Jim Ratcliffe, the billionaire founder of chemicals company Ineos and a co-owner of Manchester United, has said he has lost confidence in the United Kingdom, describing the country as "on the slide," according to comments he made to the BBC.

Ratcliffe, one of Britain's wealthiest businessmen, told the BBC that he believes the UK's economic and business environment has deteriorated, though the BBC report did not detail the specific reasons he cited for this assessment.

In his remarks, Ratcliffe called for greater investment in the North Sea, an area long associated with the UK's oil and gas industry. His comments come amid ongoing debate in Britain over energy policy and the future of North Sea extraction.

Ratcliffe built his fortune through Ineos, a multinational chemicals company he founded, which has significant operations tied to energy and petrochemical production. He is also known publicly for his part-ownership stake in Manchester United football club.

The BBC report did not include further details on what specific policy changes or investment commitments Ratcliffe believes are necessary, nor did it include a response from the UK government to his comments.

This article is based on reporting by BBC Business.