In an interview with the Financial Times, Guy Hands, founder of private equity firm Terra Firma, was critical of the Conservative Party's handling of the economy.
He said that they needed to focus less on internal battles and more on fixing the problems that have arisen during their time in office, the infighting had become so intense that it was now having a severe impact on Britain’s economic performance.
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| Labour MP claims senior Tories |
Hands also mentioned some specific mistakes that he feels the party has made, including their failure to invest in infrastructure and housing. These failures have put Britain at risk of becoming "the sick man of Europe".
“We are looking like the sick man of Europe at present and I think it is because there is this ongoing civil war within our own ranks which shows no signs whatsoever of abating,” he said. “It means we are not concentrating on what we should be doing – running the country.”
It is clear that Hands feels strongly about this issue, and his words are sure to add fuel to the fire of political debate in Britain. Only time will tell if the Conservative Party takes his advice and starts to turn things around.
Guy's comments come as new figures show that UK growth was well below that of other major European economies such as Germany, France and Spain. The latest data also suggests that Brexit uncertainty is weighing heavily on investment decisions by firms operating in Britain.
Brexit has been a controversial topic since the United Kingdom voted to leave the European Union in 2016. Recently, there have been even more calls for another referendum on Brexit, as the UK seems no closer to resolving the issue. In fact, some argue that Brexit has only made things worse for the UK economically.
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One of these people is Conservative MP and former Treasury minister Damian Hands. Speaking before Rishi Sunak was crowned new Tory leader and prime minister, Mr Hands suggested that Brexit was to blame for many of Britain's current problems.
He told BBC's Today programme: "The reality is when they did Brexit, they had a dream... Once you accept that you can't actually do [low-taxes and benefits], then the Brexit that was done is completely hopeless."
Mr Hands isn't alone in his assessment of how harmful Brexit has been for Britain so far. Many economists have warned about potential risks associated with leaving the EU, such as higher prices and reduced trade opportunities.
It remains to be seen whether or not another referendum on Brexit will take place; but if it does happen, hopefully this time around voters will make a decision based on what's best for Britain's economy - rather than following their heart (or gut).
Guy Hands also stated that his party is "doomed" if they don't elect a new leader with the capability to renegotiate Brexit. This comes as Boris Johnson loyalist Nadine Dorries said it will be “impossible” to avoid a general election after her former boss pulled out of the Tory leadership contest, highlighting more disunity in the Party.
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It's no secret that the Conservative Party is divided on how to move forward with Brexit, and this latest development only underscores that fact. If they can't come together and choose a leader who can negotiate a better deal for Britain, then their economic future looks very bleak indeed. Let's hope they can get their act together before it's too late.
It looks like Rishi Sunak is going to be the next prime minister of the UK. And while many are celebrating this news, there are some who are not so thrilled about it – namely Theresa May's former culture secretary Karen Dorries.
Dorries took to Twitter to warn that "all hell will break loose" if Sunak becomes PM, saying that he has no mandate whatsoever and accusing him of refusing to unite with other candidates in order to make governing impossible. She also predicted that this would lead to an early general election being called.
Whether or not Dorries' predictions come true remains to be seen but one thing is for sure: with Sunak as Prime Minister, we're in for an interesting ride!
It is now impossible to avoid a General Election, after Boris Johnson's withdrawal from the Conservative leadership race. This was echoed by arguments made by Labour, the Lib Dems and the SNP; that Mr Johnson had lost the opportunity to be Prime Minister again.
Ms Dorries tweeted: "He lost the leadership election to Liz Truss, he hasn’t won this one, he won’t have gone to the members for the vote, and I think it will be very, very difficult for him not to go for a general election."
The ex-cabinet minister added: "You can't govern effectively unless you have a united party in parliament." Labour's shadow attorney general Emily Thornberry said that when Mr Johnson declared he would not run again for leader,"the Tories lost their last desperate reason"for avoiding an early poll.
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