Hargreaves Lansdown founder Peter Hargreaves has called for a no-deal Brexit, guaranteeing his entire £3.6bn fortune such an arrangement would give the UK "free trade with Europe".
Hargreaves, who reportedly donated more than £3m to the Leave campaign in the run-up to the EU referendum, slammed the current management of the UK's divorce from the European Union in an interview with Bloomberg, adding none of the country's Brexit negotiators "know the art of the deal".
He said: "There is not one person on our Brexit team that has a clue... None of them know the art of the deal. And the amazing thing is they have never ever asked any of the people that really are great businessmen.
"They've left it to civil servants and not one of them has done anything of any worth in their lives."
Hargreaves added British negotiators lack representation from those who backed the Leave campaign, noting Prime Minister Theresa May was a Remainer and "we should have a team that want Brexit and want us out of the EU".
"The best option is no deal. No deal would give us free trade with Europe because the three biggest economies in Europe, outside Britain, are huge exporters to the UK.
"That's Germany, France and Italy. And those three economies would absolutely demand free trade from the EU.
"I guarantee my entire wealth that we would get free trade," he told Bloomberg.
His comments come as threats of a no-deal Brexit intensify, with Trade Secretary Liam Fox warning last week the likelihood of this scenario was now at 60/40, as he blamed the "intransigence" of the European Commission.
Corbyn a 'disaster' for the UK
Elsewhere, Hargreaves warned a Labour government led by Jeremy Corbyn would be a "disaster" for the UK, with severe consequences for the economy.
He believes sterling, which dipped yet again on Monday (6 August) to an 11-month low following warning signs a no-deal Brexit was becoming more likely, "would collapse" if this outcome happened.
In addition, Hargreaves said a Labour government would prompt "an enormous brain drain" due to increased tax rates leading to a departure of wealthy families and entrepreneurs.
He told Bloomberg: "Corbyn would be an absolute, unbelievable, total disaster.
"He's purely been a protester for the whole of his life. He's never even considered, even contemplated, he would actually have to make decisions."
However, Hargreaves added Corbyn would be "a great tonic for this country" as it would remind voters that "socialism is bad".
Hargreaves also gave an update on his recent business activity, boasting Blue Whale Capital, which he joined as a partner last year, is "going to be a force in fund management within a few years".
He added: "The young chaps there, I would bet they know more about some of the companies in which they invest than most of the people that work in those companies."
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