Moody Richard Branson Cancels Deal Over Brexit

“British entrepreneur Richard Branson on Tuesday said his Virgin Group had pulled out of a deal involving 3,000 jobs after Britain voted to leave the EU.” (Yahoo, 2016)

Even though being a billionaire businessman he continues to not understand the free market benefits and increased freedoms from the UK having left the EU.

Branson does not even have the right to vote in UK elections as he lives in the British Virgin Islands.

Big business prefer big bureaucracy because like unions it keeps the unskilled or small businesses from competing on price.

Branson only seems concerned over the stock market and the fact that the UK because of expansionary monetary policy is now subject to its inevitable bust, which he can’t accept and blames on leaving the EU.

Richard Branson said “We’re heading towards disaster and therefore in business if you realise you made a bad decision you change it […] we’re not saying to overrule it, just [to] have another chance and that’s democratic […]” (Yahoo, 2016).

Policy uncertainty has produced quite a scare in the stock market, however this is no reason or excuse for him to push for a second referendum.

“”We were about to do a very big deal and we cancelled that deal that would have involved 3,000 jobs and that’s happening all over the country,” Branson told a show on the independent ITV network.” (Yahoo, 2016)

There is an infinite amount of work to be done and the UK does not have to misdirect labour into industries that favour big business bureaucracies.

“Despite the warnings, European stocks rose sharply on Tuesday, making their first gains since Britain’s shock vote to quit the EU, and the pound rebounded as investors returned to jittery markets.” (Yahoo, 2016)

In fact, leaving the EU does not also hinder trade, apart from impacting those big businesses who benefit from government trade deals, whilst pushing out small business and free trade.

Trade happens when two parties benefit, leaving the EU should not impact the two parties.


Reference List

Yahoo Finance. (2016) Branson says cancels deal after brexit vote. Yahoo Finance. Retrieved [30/06/16] from <https://au.finance.yahoo.com/news/branson-says-cancels-deal-brexit-072841673.html?cmp=twitter>.

Featured image supplied free from Pixabay.

Copyright © 2016 Zoë-Marie Beesley

Creative Commons License Licensed under a Creative Commons Attribution 4.0 International License.

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