Brexit could inspire UK, claims Hargreaves Lansdown founder

The "insecurity" caused by leaving the EU could be harnessed to inspire the UK, a prominent businessman has suggested.

Peter Hargreaves, who founded stockbroker Hargreaves Lansdown, likened a post-Brexit Britain to Singapore in the 1960s.

"I'm firmly convinced, that day - hopefully - we decide to leave, that little bit of insecurity, that little bit of unknown, will be an absolute fillip to everyone," he told BBC Radio 4's Today programme.

"It will be a great incentive for us to go out and prove that it's right."

Mr Hargreaves, who stepped down from the board of the company last year but still owns a stake of more than 30%, said he was speaking in a personal capacity.

"When Singapore became independent from Malaysia, that little insecurity that they were no longer part of Malaysia, it was an inspiration," he said.

"I honestly think that would be good for us too."

Playing down the impact on the City of a Leave vote in the referendum on June 23, he said: "We raise money for the Russians, we raise money all over the world, for countries that are not in Europe,

"They've got to use London. London can raise billions on a few phone calls."