Financier Lord Rothschild On Tuesday said Britain was in the worst political situation since the Suez crisis.
He didn’t mention Brexit by name but said: “We are surely witnessing the worst political situation in the United Kingdom since the Suez crisis, while social unrest and populism in a number of European countries cloud the future.”
The Suez Crisis of 1956 saw Britain forced to back down against Egypt over control of the canal.
The 82-year old is the great-great-great-great-grandson of the banking family’s founder Mayer Amschel Rothschild.
He said last year had been the most “treacherous” for investors since the financial crisis.
His investment firm , RIT Capital, dodged the worst and gained 0.8%.
The company dialled down exposure to stock markets, which helped shield it from the worst of last year's losses.
The value of assets were down 1% to £2.83 billion for the year ending December. Shares were down 2.7% for the same period.
