Politics

‘Fantastic success’ Brexit Britain firms lead way despite rocky pandemic

Ben Habib slams ‘unlawful’ Northern Ireland protocol

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Early-stage startup valuations have been rising steadily since 2016 when Britons voted to leave the EU. This, according to City AM, reveals entrepreneurs are “simply more ambitious, better prepared for success and empowered by technology”. Alongside this, there has been a noticeable increase in revenue projections in UK startups.

The business paper added that while the pandemic, and the response to it, did undoubtedly have an impact on revenue and confidence, “this trend has corrected and founders are as bullish as ever”.

Businessman and former Brexit Party MEP Ben Habib celebrated the state of the UK’s tech sector now, after Brexit, was the opposite of what many warned it would be.

He told Express.co.uk: “Investments in start-ups more than doubled in 2021 after the UK left the Single Market.

“Over £26 billion was invested, up from £11.5 billion the year before.

“If we could achieve all this with the headwinds of the pandemic and a highly regulated and taxed economy, think what we could do if our Government adopted a genuinely business-friendly attitude, rather than its highly regulated and taxed approach.”

He added: “We should build on this success and cut taxes and regulations for innovative new and medium-sized businesses.”

This comes after French journalist and economist François Lenglet admitted Brexit has not been a “catastrophe”, despite predictions it would be.

Countless politicians, business readers and commentators warned in the lead up to the 2016 referendum that leaving the EU could result in financial ruination.

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But Mr Lenglet said it was the Brexit supporters who had been vindicated since winning the vote – not the doubters.

He told RTE: “[The UK’s situation is currently] not better, it’s not worse.

“But we can still think that with a government that is determined in the long term and has a real economic strategy, there is a relatively prosperous future for the UK outside Europe.

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“It’s not a country that will disappear at all.”

British high-net-worth individuals also said at the end of last year they remain confident about the financial future of the country.

Eighty percent of 1,000 people with investable assets of over £250,000 said in a survey they felt confident about the future of Britain’s economy.

An impressive 33 percent said they felt “very confident”.

Most added that they believed London would continue to be the financial capital of Europe over the next decade.

Mr Habib stressed that the UK is “a great place to live and work”, noting: “Brexit did not change that.”

He added that the benefits of leaving the EU must now be fully made use of to “accelerate further this fantastic success”.

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