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Value of Branson’s businesses tumble, calls for Brexit rerun

Virgin’s Sir Richard Branson, 65, wants a rerun of Brexit following far reaching repercussions of the move as stocks crumbled and the pound fell just days after Britons voted to leave the European Union.

For his businesses, Branson admitted a third of their value had been wiped off, and more than 3,000 jobs were lost in a new deal.

He called for a rerun in an interview he granted this morning (Tuesday, June 28) on ITV Good Morning Britain.

He stated:

‘Bank shares, some of them have gone done by as much as 50 per cent, two trillion got wiped off the global stock markets, the pound has collapsed to its lowest level in 30 years, and we will go into recession unless we can actually send signals to the world very quickly that we’re going to do something about it.

‘We’re not any worse than anybody else, but I suspect we’ve lost a third of our value which is dreadful for people in the workplace.

‘We were about to do a very big deal, we cancelled that deal, that would have involved 3,000 jobs, and that’s happening all over the country.

‘One of the reasons that I think there should be a second referendum, particularly once the terms are known about what our entry into Europe’s going to cost us, (is that) the public are going to have all the facts at their fingertips. Those same 17 (million) people will be able to vote again.

‘We’re not going against it, what we’re simply saying is the fact that Brexiters told people were inaccurate. You’ve already got Nigel Farage saying the £350million that’s going to go into the health service was not true.

‘You’ve got other people who are for Brexit saying “yes, we accept we cannot stop immigration if we do this.

‘So all I’m saying is, look, this country is going to go into recession, two of the worst days ever, banks being pounded means they’re not going to lend money, we’re going to go into recession.

‘And that was based on people being told this would not happen, “do not worry, the fact we’re going to lose a 500-million marketplace, don’t worry about it, everything’s going to be fine.

“It is not fine – we’re heading towards a disaster and therefore in business, if you realise you’ve made a bad decision, you change it.

“Now we’re not just saying overrule it, we’re saying let those people who voted have another chance, and that’s democratic.”


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