ADVERTISEMENT

"Insecurity is fantastic," says billionaire funder of Brexit campaign

"We will get out there and we will be become incredibly successful because we will be insecure again. And insecurity is fantastic."

Insecurity is fantastic, says billionaire funder of Brexit campaign

The billionaire stockbroker bankrolling the campaign to pull Britain out of the European Union agrees with opponents of Brexit that it will make the country more insecure, but he thinks that is just what the United Kingdom needs.

"It would be the biggest stimulus to get our butts in gear that we have ever had," Peter Hargreaves told Reuters in an interview.

"It will be like Dunkirk again," he said, comparing it to the sealift when Britain was forced to evacuate its forces from Europe after France fell to the Nazis in World War Two, revered in British history as a moment the nation rallied to face mortal peril.

It is a message that could surprise other "Out" campaigners, who have tended to play down the insecurity associated with leaving the EU, arguing that it is not as risky as Prime Minister David Cameron and other advocates for staying make out.

ADVERTISEMENT

"These out of touch remarks from the Leave campaign's biggest donor show they simply do not care about the damaging consequences for people's jobs, family finances and Britain's economy," said Will Straw, executive director of Britain Stronger In Europe.

Straw said Britain is stronger, safer and better off in Europe than "we would be on our own".

"Far from being fantastic, leaving would hit family finances by 4,300 Pounds ($6,210.92)a year and is not a risk worth taking", Straw added.

Hargreaves, 69, made his fortune as one of Britain's richest men co-founding stock broker Hargreaves Lansdown in 1981. When donors to both sides in the EU referendum campaign were announced on Wednesday, he emerged as by far the biggest on either side, having given 3.2 million pounds ($4.63 million) to the Leave camp.

His argument, that Brexit will lead to insecurity, is precisely the reason why most bodies representing London's financial services industry have come out strongly in favour of staying in the EU, and several big global banks have donated to the "In" campaign. The banks say insecurity is bad for business.

ADVERTISEMENT

But Hargreaves said he believes the smart money wants out.

"All the people in the City of London who I rate and are intelligent and talk sense actually say it would better if we left," Hargreaves said. "All the government lackeys, all the bureaucrats and the people on the boards (who) haven't got a clue what they are talking about want us to remain."

Like many in the leave camp, Hargreaves says the EU imposes an unnecessary burden on British financial services and small businesses, which are the main employers in Britain, by imposing red tape.

"Some of the regulation that we have to obey is bizarre and by people who have never been to Britain and wouldn't know how to spell financial services," he said. "There are just crazy, crazy things."

He compared the future of Britain outside the EU to that of Singapore, which became independent from Malaysia in 1965 and developed into a major financial centre.

ADVERTISEMENT

"It was a mosquito-infested swamp with no natural resources," he said. "All they had were people with brains and hands and they turned into it the greatest economy in the world. I believe that will happen to us, too." ($1 = 0.6908 pounds) ($1 = 0.6923 pounds)

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.ng

Recommended articles

NFVCB, EFCC plan to rid films, skits of untrue portrayal of EFCC officials

NFVCB, EFCC plan to rid films, skits of untrue portrayal of EFCC officials

Federal Govt set to sue Binance ltd, officials for tax evasion on April 4

Federal Govt set to sue Binance ltd, officials for tax evasion on April 4

What Nigerian law says about treatment of people with disabilities

What Nigerian law says about treatment of people with disabilities

Gambling investment is evil, will take away everything - Cleric warns youths

Gambling investment is evil, will take away everything - Cleric warns youths

All teachers need to learn digital skills to earn their students’ respect

All teachers need to learn digital skills to earn their students’ respect

Lagos lawmaker begins road construction in Yaba to ease residents' plights

Lagos lawmaker begins road construction in Yaba to ease residents' plights

Over 100 inmates in Kano seek mercy, review of death sentences

Over 100 inmates in Kano seek mercy, review of death sentences

FG shuts KFC outlet that 'humiliated' Gbenga Daniel's wheelchair-bound son

FG shuts KFC outlet that 'humiliated' Gbenga Daniel's wheelchair-bound son

Reps vow to retrieve sold Govt helicopters, summon aviation ministers

Reps vow to retrieve sold Govt helicopters, summon aviation ministers

Pulse Sports

Nigeria vs Mali: Has Finidi George done enough to land Super Eagles job permanently?

Nigeria vs Mali: Has Finidi George done enough to land Super Eagles job permanently?

I want to emulate Keshi and win the AFCON - Finidi George shares ambitious Super Eagles dream

I want to emulate Keshi and win the AFCON - Finidi George shares ambitious Super Eagles dream

Michelle Alozie: I had to do it because of African referees

Michelle Alozie: I had to do it because of African referees

AC Milan star reveals he was named after Super Eagles legend Tijani Babangida

AC Milan star reveals he was named after Super Eagles legend Tijani Babangida

Give him the job! Super Eagles fans beg NFF to make Finidi George permanent coach after Nigeria's win over Ghana

Give him the job! Super Eagles fans beg NFF to make Finidi George permanent coach after Nigeria's win over Ghana

Super Eagles 2-1 Black Stars: Nigerians praise Iwobi, Lookman, Finidi George after friendly victory against Ghana

Super Eagles 2-1 Black Stars: Nigerians praise Iwobi, Lookman, Finidi George after friendly victory against Ghana

ADVERTISEMENT
ADVERTISEMENT