Richard Branson criticises Donald Trump's tariffs

The UK remains a "fantastic" place to start a business despite the "setback" of Brexit and the impact of Donald Trump's tariffs, Sir Richard Branson says.

Speaking at the launch of his Virgin Group's hotel in Shoreditch, east London, the entrepreneur said that the world of business would "have to deal with... the complete uncertainty" of the impact of the US president's tariffs.

The 74-year-old also told the BBC that he wanted to "make London prosperous for everybody" following the UK's decision to leave the EU.

Sir Richard said: "I still think it's a good time to start in the UK and... if we businesspeople can generate enough income for the UK, then taxes will start going down for people."

He told the BBC that, more than 50 years after launching Virgin Records in London, the UK remained "really special" and was "one of the few countries in the world that is stable".

Sir Richard said: "I think that he [Trump] got a nasty shock when the whole world looked like it was going to melt down.

"When he thought he could get away with ridiculous tariffs, he had to backtrack and hopefully he's learned his lesson and there will be a more sensible regime put in place - but with him you never know what's going to happen.

"It's that unpredictability that has done a lot of damage in the world in the last couple of months."

James Bermingham, chief executive of Virgin Hotels, said: "Londoners will weather any storm, and we've seen that decade after decade and crisis after crisis.

"The way people bounce back in the city truly sets a standard for the world to follow."

On the possible introduction of a tourist tax in the capital, Mr Bermingham said he would support a "small, reasonable fee", that "doesn't restrict demand, is industry-led and focused on... improving the tourist experience and improving tourism".

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