NEWS of Britain’s decision to leave the European Union earlier this year may have sent shockwaves around the world. But for INEOS, one of the world’s largest chemical and energy businesses with 67 manufacturing sites in 16 countries, it remains business as usual.
“We had always said we would make things work either in or out of the EU,” said INEOS Chairman and Founder Jim Ratcliffe, who is also one of Britain’s most successful industrialists. “As a business, INEOS supported the common market, but not a United States of Europe.”
As the result was announced in the early hours of June 24, Jim called on the British Government to focus on what needed to be done and not get distracted by recriminations.
“Brexit is a reality and we must prepare for complex and tough negotiations with our European friends,” he said. “We must listen, we must be unwaveringly polite and retain our charm. But there is no room for weakness or crumpling at 3am when the going gets tough and most points are won or lost.”
He said ‘rigour and grit’ mixed with ‘politeness and charm’ were now needed from those negotiating Britain’s exit from the European Union.
“Never forget that we have a decent set of cards,” he said. “And generally Brits are liked and respected around the world.”
Jim said Europe needed access to the UK’s market, which is bigger than Russia’s, as much as Britain needed theirs.
“Mercedes is not going to stop selling cars in the UK,” he said. “And London is one of the two key financial centres and that isn’t going to change.”
The truth is that Britain does not yet know what impact Brexit will have on its economy.
“The betting money was on short-term pain and long-term gain,” said Jim. “What’s for certain is that we should be thinking even harder today how we might stimulate the economy.”