Guy Hands is, perhaps unsurprisingly, bearish on the UK.

The famous financier and chairman of private equity firm Terra Firma says Britain is in a “sort of geriatric decline,” with its post-Brexit business outlook and investment case getting worse every day. Hands tells David Merritt and Francine Lacqua on this week’s episode of In the City that if the UK maintains its weakened relationship with the European Union, it’s destined to be poorer on a relative basis than the bloc. 

Hands, who backed the Remain side in 2016, recently said he’d stop making donations to the Conservatives after the government rejected the possibility of a closer trade deal with the EU. Now he supports Labour because they seem “marginally better.” 

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