Published by Global Banking & Finance Review®
Posted on February 12, 2026
1 min readLast updated: February 12, 2026
Add as preferred source on GoogleJim Ratcliffe apologizes for his immigration remarks, emphasizing the need for managed immigration to support economic growth amid criticism.
LONDON, Feb 12 (Reuters) - British billionaire Jim Ratcliffe said on Thursday he was sorry that people took taking offence to his comments on immigration after he was criticised by Prime Minister Keir Starmer for saying the country had been "colonised by immigrants".
"I am sorry that my choice of language has offended some people in the UK and Europe and caused concern but it is important to raise the issue of controlled and well-managed immigration that supports economic growth," Ratcliffe said in a statement.
(Reporting by Muvija MEditing by William Schomberg)
Immigration is the process through which individuals move to a country other than their country of origin, often for reasons such as employment, education, or family reunification.
Economic growth refers to an increase in the production of goods and services in an economy over a period of time, typically measured by the rise in gross domestic product (GDP).
Managed immigration refers to a system where a country regulates the flow of immigrants to ensure that it meets economic needs while maintaining social cohesion and security.
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