Campaign to secure second Brexit referendum 'within a year' set to be launched

George Soros delivers his speech entitled "How to save the European Union"

Sean Morrison @seanmorrison_29 May 2018

A campaign to secure a second Brexit referendum within a year is set to be launched in the coming days, billionaire tycoon George Soros has announced.

The Hungarian-born investor claimed the UK’s prolonged divorce from the European Union may help persuade Britons by a “convincing margin” to vote to remain in the bloc.

Speaking ahead of the Best for Britain campaign launch, Mr Soros said changing the minds of the British public would be in keeping with “revolutionary times like present”.

During a speech in Paris on Tuesday, the 87-year-old said: “Brexit is an immensely damaging process, harmful to both sides... divorce will be a long process, probably taking more than five years.

George Soros delivers his speech entitled "How to save the European Union"

“Five years is an eternity in politics, especially in revolutionary times like the present.”

He went on: “Ultimately, it’s up to the British people to decide what they want to do. It would be better however if they came to a decision sooner rather than later.

“That’s the goal of an initiative called the Best for Britain, which I support.”

George Soros, left, attends the European Council On Foreign Relations Annual Council Meeting in Paris

For Europe to take the potential reversal of the decision seriously the British public must express its support for the movement by a “convincing margin”, he added.

“That’s what Best for Britain is aiming for by engaging the electorate. It will publish its manifesto in the next few days.”

This year, Mr Soros pledged an additional £100,000 to his initial £400,000 donation to support the campaign’s efforts to derail Brexit.

Mark Carney: Families £900 worse off since Brexit

The tycoon had previously denied accusations that he was "undermining democracy" and hit back at what he called "toxic personal criticism" against him.

Writing in the Mail on Sunday, he said Best for Britain had his "wholehearted support" and that he had never made a secret of his opposition to Brexit.

He said: "The fact that conditions are unsatisfactory does not mean that they can't get worse. That is what has happened in Britain.

"Before the referendum Britain was doing better economically than the rest of Europe. But this has now been reversed, with Continental economies powering ahead while Britain lags behind."

Hungarian-born Mr Soros, one of the world's richest men, made a billion dollars betting against sterling on Black Wednesday in 1992.