The Labour Party chair has said Sir Jim Ratcliffe loses “the moral high ground” by making statements about the UK while living in tax exile.
Speaking to Sunday with Laura Kuenssberg, Bridget Phillipson said she would take the billionaire businessman’s comments that the UK was “on the slide” with a “pinch of salt”.
Sir Jim, the founder of petrochemical giant Ineos and Manchester United’s co-owner, told the BBC he has lost confidence in the UK due to a combination of high taxes and high immigration.
He has been a tax resident in Monaco since 2020 and said “things would have to get better” in the UK for him to return.
When questioned over the remarks, Phillipson said Sir Jim loses “the moral high ground” by “making these kinds of pronouncements while choosing to make decisions, that he is within his rights to make, to become a tax exile”.
Pushed on whether it bothers her that people who create jobs and pay a lot of tax were leaving the UK, the minister said she was “optimistic about our country’s prospects”.
Other high profile billionaires have left the UK, including including steel tycoon Lakshmi Mittal and most recently the UK’s third biggest taxpayer, hedge-fund boss Chris Rokos.
But, Philipson argued the country was in a good position ahead of the Budget next month, and Andy Burnham has shown a “sense of hope and optimism whilst recognising that many families are still struggling and there is more to do.”
“Of course, there are challenges, including big international headwinds, but I fundamentally believe that we are in a strong position going into this budget because of the decisions taken over the last two years, and I believe our country’s best days lie ahead of us,” she said.
Philipson declined to speculate over whether there would be tax rises in the Budget on 28 October, and said the government remained committed to being disciplined about its spending rules.
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Sonida Senior Living (SNDA) was trading higher as Baird Equity Research raised its recommendation on the stock to Buy equivalent.
Shares were 1.19% higher at $38.33 Friday afternoon.
“We believe SNDA is well-positioned to benefit from the highly favorable senior
14:19, 23 Aug 2026Updated 14:19, 23 Aug 2026
Tenerife is one of the most popular holiday destinations for Brits (stock image)(Image: Getty Images)
Tenerife is one of the most popular holiday destinations for Brits, with around 2.3 million people from the UK flocking to the sun-drenched island every single year. Just a few hours away by plane, the Spanish island is famous for its beautiful beaches, hot temperatures, and cloudless skies.
But, according to one Brit living in the Canary Islands destination, there’s one thing about the holiday hotspot lots of people don’t know. Andrew Knight, known on social media as The Knightsrider, runs a bar and a car hire business in Tenerife, and frequently shares looks into life on the island with his followers on social media.
In a recent clip on TikTok, Andrew revealed something he claimed “the internet isn’t telling you”. “That is the fact that this weather, the gorgeous ocean, the boat trips, the excursions, and everything, all run all year round,” he said.
Andrew said: “So many people message, or they call me up, or they ask me on the live streams, ‘Is this running in the winter?’, ‘Is this running in November?’, ‘What is open in December?’ Remember, Tenerife is 365 days a year.”
He continued: “So whether it’s winter, November, January, Christmas Day – everything is running. You’re gonna have average temperatures in the winter months of like 23 degrees in the daytime.”
Andrew added “the sea temperature doesn’t change much”, and the beaches remain busy in the winter. “We have a big rush and a big influx in the summer, but the winter months are actually our most solid months for me,” he said.
“That’s our busiest with the cars. We’re mad busy with the excursions then as well. So bear that in mind.
“It’s not spoken about enough, it’s not made clear enough online when you’re booking holidays and things. The Canary Islands, and Tenerife in particular, especially the south, is fantastic in the winter months, and we are an all-year-round amazing place to visit.
“So have a look, get it booked. You can find some great winter sunshine. Four hour flight from the UK, five hours from Germany, Sweden, etc, and you’ll be here in the sunshine rather than freezing, miserable, raining at home.”
Concluding, he said: “You can get some great deals, have a look at it. But Tenerife is an all-year-round destination. Ignore what the internet says.”
Tenerife has long been an extremely popular destination for holidaymakers from the UK. Not only is it relatively nearby – just a few hours away by plane – but there are plenty of deals on package holidays to the island available too.
The south of the island is known for its stunning beaches, luxury resorts, and vibrant nightlife, as well as a wealth of places to eat and drink, but there’s more to see and do too. Tenerife is also home to the Mount Teide National Park, a UNESCO World Heritage Site filled with volcanic rock formations surrounding an active volcano, while the north of the island offers a more authentic local experience, with beautiful architecture and incredible food and drink.
Siam Park, a huge Thailand-themed water park, and Loro Parque, an animal and conservation park home to wildlife including lions, dolphins, penguins, gorillas, hippos, and much more, are also popular with visitors of all ages.
Direct flights to Tenerife are available from most UK airports.