Report: Billionaire Says Britain May Be Forced to Seek Bailout From IMF if It Does Not Renegotiate Brexit Deal

British billionaire capitalist Guy Hands has reckoned that Britain volition go “the sick antheral of Europe” and whitethorn beryllium forced to question a bailout from the International Monetary Fund (IMF) if it does not renegotiate its Brexit deal. The billionaire insisted the United Kingdom’s existent economical woes are the effect of a poorly negotiated Brexit woody and not the Liz Truss government’s arguable taxation chopped proposals.

Billionaire Says Poor Brexit Deal Is Source of UK’s Economic Woes

The British billionaire capitalist Guy Hands has warned that Britain needs to renegotiate Brexit if it is to debar seeking a bailout from the International Monetary Fund (IMF), a study has said. According to Hands, Britain’s poorly negotiated exit from the European Union is the superior origin of the United Kingdom’s ongoing economical woes.

As per a report by The Telegraph, Hands believes Britain’s play of economical symptom — which seemingly reached its crescendo erstwhile the lb fell to its lowest speech complaint versus the dollar — started six years agone and could yet spot the state go “the sick antheral of Europe.”

While Britain mightiness not request the bailout close away, Hands, laminitis of backstage equity steadfast Terra Firma, insists seeking specified fiscal assistance volition go a world if U.K. ministers neglect to renegotiate the Brexit deal. Hands warned astir the existent people of the country:

Steadily expanding taxes, steadily reducing benefits and societal services, higher involvement rates and yet the request for a bailout from the IMF.

Hands, who is simply a protagonist of the ruling Conservative Party, reportedly suggested that helium does not deliberation the outgoing Liz Truss government’s taxation chopped proposals are to blasted for the United Kingdom’s fiscal mess.

Hands: Conservatives Must Own Up to Their Mistake

Tax chopped proposals by Kwasi Kwarteng — the United Kingdom’s erstwhile chancellor of the exchequer — reportedly spooked fiscal markets, causing the lb to autumn to its lowest ever level versus the U.S. dollar.

Meanwhile, the billionaire capitalist suggested determination has to beryllium immoderate reckoning that the Brexit woody is mediocre and that it lone enactment Britain connected a disastrous economical path. In his remarks directed astatine the Conservative Party, which has since chosen Rishi Sunak to go the UK’s adjacent premier minister, the billionaire said:

“I deliberation if the Tory enactment tin ain up to the mistake successful however they negotiated Brexit and person idiosyncratic starring it that really has the intelligence capableness and the authorization to negociate Brexit, determination is simply a anticipation of turning astir the economy, but without that the system is frankly doomed.”

After touching a debased of 1.03 per 1 dollar, the lb has since recovered and is trading astatine £1:$1.13 astatine the clip of writing.

What are your thoughts connected this story? Let america cognize what you deliberation successful the comments conception below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This nonfiction is for informational purposes only. It is not a nonstop connection oregon solicitation of an connection to bargain oregon sell, oregon a proposal oregon endorsement of immoderate products, services, oregon companies. Bitcoin.com does not supply investment, tax, legal, oregon accounting advice. Neither the institution nor the writer is responsible, straight oregon indirectly, for immoderate harm oregon nonaccomplishment caused oregon alleged to beryllium caused by oregon successful transportation with the usage of oregon reliance connected immoderate content, goods oregon services mentioned successful this article.