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BUSINESS, Europe

Richard Bransons Opinon On Brexit Affecting His Business

Sir Richard Branson Said That He Believes In A Second Memorandum, A Second Referendum Is Needed And That The Public Were Mislead On The Financial Implications Of Brexit

RICHARD BRANSON
Image Source: Mirror | Richard Branson

Richard Branson the founder of Virgin spoke on British television that his business has lost about 33% of its value after the British people voted for Brexit, he also called for a 2nd  referendum. Richard Branson also said that the decision of Britain to leave the European Union has made him to cancel a deal that would have led to the creation of three thousand jobs. Branson questioned if the public knew the consequences of what they voted for as well as its seriousness.

Sir Richard Branson said “I don’t believe the public has realised what a mess their vote would cost. We’ve not any worse than anybody else, but I suspect we’ve lost a third of our value, which is dreadful for the people in the work place. We were about to do a deal that would have involved three thousand jobs, and that’s not happening all over the country.”

Richard Branson said that he believes in a second memorandum, a second referendum is needed and that the public were mislead on the financial implications of Brexit. The camp in support of Brexit discredited David Cameron and the remain camp claims if Brexit occurs it would lead to a financial disaster. Richard Branson said “When Brexiters told the public that people were exaggerating, that there would be a financial meltdown, I think it’s been proven that they were not exaggerating.”

Brexit Stock
Image Source: TheStockMarketToday | Brexit

An online petition for a second referendum has been signed by over three million people but a second referendum looks very unlikely to happen under this current administration. David Cameron said “That is not remotely on the cards, there was a decisive result and the focus on the government is to get on and deliver that.” As Britain is trying to adjust with life without the European Union, the banking sector has been hit hardest. Some bank share prices have fallen by over 30%. Richard Branson said that the banks will tighten up lending as a result of the circumstances that have occurred.

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