Brexit is going to “devastate” jobs and the economy according to Virgin tycoon Sir Richard Branson, especially if Britain leaves Europe without a deal.
The billionaire said that Brexit was “the saddest thing to happen to Britain” since the Second World War and that it has already hurt jobs, investment and the economy.
However, he predicted that things will get even worse in a no deal scenario.
Branson has not invested in Britain since the 2016 referendum due to the uncertainty that is weighing on the economy.
He said that other companies have done the same, costing the UK thousands of new jobs.
The tycoon said that Britain faces the choice of a hard or soft Brexit and remain. He added scrapping Brexit would send “the pound soaring and get trade back up”.
“With Brexit, the choices are dreadful, pretty dreadful and remain. A hard Brexit will devastate Britain and jobs,” Branson said.
“A softer Brexit will still be devastating but most companies will survive it, as long as it does not lead to no deal.”
Instead of investing in the UK, Branson has put money into his US-based space tourism company Virgin Galactic and high speed transport group Virgin Hyperloop.
It has also devoted resources to businesses in Italy.
Branson said: “Over the last three years there’s been little investment in Britain because of Brexit.
"It’s cost the UK thousands of jobs [Virgin not investing in the UK] and we are one of thousands of companies that have done that.”
