US tycoon Warren Buffett promises to invest in the UK regardless of Brexit deal
The billionaire's vow hands a big endorsement to Britain
BILLIONAIRE Warren Buffett says he is eager to invest in Britain regardless of the outcome of Brexit.
The American tycoon said he was not worried about our leaving the EU and was “ready to buy something in the UK tomorrow”.
The 88-year-old’s endorsement is a welcome boost for Britain amid the uncertainty of whether we will leave the European Union with or without a deal.
The CEO of US conglomerate Berkshire Hathaway told his shareholders earlier this year that the company hoped to “invest significant sums across borders”.
Mr Buffett told the Financial Times: “We welcome the chance to put money out any place where we think we understand and sort of trust the system.
“We’re never going to understand any other culture or the tax laws or the customs as well as the US, but we can come awfully close in Britain.”
Europe was grappling with populism, a slowing economy and rising tension within its union, the multi-billionaire investor said.
He added it was “very tough” for the EU because member states spoke different languages and had “entirely different fiscal situations”.
His endorsement was hailed by Trade Secretary Liam Fox, who said: "This is a man with more than half-a-century's experience of investing in the right places.
"This vote of confidence is a great antidote to those who'd rather see Britain fail than let Brexit succeed."
Mr Buffett went on: “It doesn’t surprise me that there would be a lot of tensions and, sometimes maybe, impossible tensions, even.”
The businessman has previously made successful investments in Britain. His company owns Northern Powergrid, which distributes electricity to homes and businesses in the North East.
His thumbs up comes after news that Britain was now the No1 global destination for foreign investment.
Dr Fox said: "The top accountancy firm Ernst and Young now ranks us first in the world, having overtaken the USA and we now host over £1.3trillion of FDI stock - a UK record."
The Sun on Sunday Says
FINANCIAL genius Warren Buffett hasn’t accrued his fortune by taking needless risks.
The American billionaire and investment guru is the kind of man who likes to wear both belt and braces.
So when the so-called Sage of Omaha says Britain is a great place in which to invest and he is ready to buy something here tomorrow, it shows this country’s economy is in great shape.
The resounding vote of confidence by the world’s third richest man will be a major fillip to those who have resolutely stood up to the Project Fear bullies.
And it is yet another blow to the doom and gloom predictions that Brexit would tip us into a tailspin.
As Trade Secretary Liam Fox points out today, Britain has leapt from third to first as the place in which the world wants to invest.
Mr Buffett underlined Britain’s powerful attraction to American businesses by saying our culture and tax regimes were “awfully close”.
Wouldn’t it be great if his faith in this great nation and his optimism for our future could be echoed by more of our politicians?
All the likes of the scowling Jeremy Corbyn and the pompous Commons Speaker John Bercow can do is to score cheap political points by snubbing President Donald Trump.
Instead of trying to undermine our special relationship, they should wake up to the importance of our trading links with our staunch ally across the pond.
And they shouldn’t be leaving it to others to shout out the great news about Britain’s surging economy.
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