Hargreaves founder slams UK gov’t, claiming no-deal Brexit is ‘best option’

The founder of Hargreaves Lansdown, Peter Hargreaves, has backed a no-deal Brexit, insisting that such a scenario would give the UK “free trade with Europe”.

In an interview with Bloomberg, Hargreaves slammed the British government’s handling of the negotiations to leave the EU: “There is not one person on our Brexit team that has a clue,” he said. “None of them know the art of the deal. And the amazing thing is they have never ever asked any of the people that really are great businessmen.”

Hargreaves, who reportedly donated upwards of £3m to the Leave campaign, added: “They’ve left it to civil servants and not one of them has done anything of any worth in their lives.”

Hargreaves’ heated comments come at a nerve-wracking time for Britain’s negotiations, as the prospect increases of a no-deal Brexit, for which Britain trade secretary, Liam Fox has blamed the “intransigence” of Brussels.

He continued: “The best option is no deal. No deal would give us free trade with Europe because the three biggest economies in Europe, outside Britain, are huge exporters to the UK.

“That’s Germany, France and Italy. And those three economies would absolutely demand free trade from the EU.

“I guarantee my entire wealth that we would get free trade,” he added. Hargreaves’ personal fortune is estimated to be £3.6bn.

ABOUT THE AUTHOR
Christopher Copper-Ind
Christopher Copper-Ind is Publisher and Editor of International Investment. His previous publishing experience focused largely on the Middle East and emerging markets, and he was Editorial Director of The Business Year, based in Istanbul, for three years before moving back to London in 2017. He is the author of How to Negotiate, to be published by Macmillan in 2019.

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