Sir Jim Ratcliffe, Britain’s richest man with a £21 billion fortune, has sparked a wave of criticism for his reported plan to leave Britain for residence in Monaco. 

The billionaire, who was knighted last year for services to business, could save as much as £4 billion by moving to Europe, it has been estimated according to media reports.

Sir Jim, 66, who has been a vocal supporter of Britain’s withdrawal from the EU, is said to have been working with PwC on a tax plan involving an offshore move. 

Sir Vince Cable, the Liberal Democrat leader, was among the politicians attacking the alleged move,...