Nigel Farage is expected to hold talks with Sir Jim Ratcliffe, the billionaire founder of Ineos, before Christmas as Reform UK seeks to strengthen its ties with leading figures in British industry. The planned meeting underscores the party’s growing efforts to position itself as a pro-business alternative amid widespread discontent over energy costs, regulation, and taxation.
Ratcliffe — who co-owns Manchester United and is among the UK’s wealthiest individuals with an estimated £23.5 billion fortune — confirmed that Farage had requested the meeting during an interview for The Business, a new podcast by The Times.
The Ineos chairman, known for his outspoken criticism of the government’s environmental policies, has been a persistent opponent of Britain’s net zero targets. He has described plans to eliminate fossil fuels from the electricity grid by 2030 as “absurd,” arguing that they threaten Europe’s industrial competitiveness.
Ratcliffe warned that high energy prices, carbon taxes, and a surge in cheap Chinese imports were “crippling” the continent’s chemical sector. “You could probably multiply that by ten if you look at all the indirect jobs in services — it’s probably ten million jobs in Europe and three-quarters of a trillion euros in value,” he said.
His comments follow a series of cost-cutting moves by Ineos in response to the economic strain. On Tuesday, the company announced 60 job losses — roughly a fifth of its workforce — at its Hull acetyls plant, blaming soaring energy prices and competition from low-cost imports. Earlier this week, two facilities in Germany were also closed, affecting 175 staff, while the firm’s Grangemouth oil refinery in Scotland shut down in April after years of losses.
“Grangemouth is a good facility, but it hasn’t made money for two or three years,” Ratcliffe said. “We’re spending about £130 million a year extra on high energy costs and carbon taxes. Over ten years that’s £1.3 billion — money that should be going into investment.”
Ratcliffe revealed he had also met Conservative leader Kemi Badenoch, though Farage had been the one to reach out directly. Both Reform UK and the Conservatives have signalled interest in reviewing or delaying parts of the UK’s net zero commitments if elected.
While Ratcliffe insisted he remains “politically neutral,” he acknowledged that many voters are drawn to Farage’s emphasis on “tax, crime, and the economy.” He criticised Britain’s current direction as “high tax, high immigration, [and] high crime,” and compared the political climate to the one that preceded Donald Trump’s rise in the US.
Reform UK declined to comment on the expected meeting. However, the outreach reflects the party’s strategy to appeal to industrial leaders seeking greater energy security and a more competitive post-Brexit economy.
For Ratcliffe — whose Ineos group employs 24,000 people worldwide — discussions with Farage are likely to focus on revitalising UK manufacturing, ensuring affordable energy supplies, and protecting jobs in the face of mounting global competition.
