Branson And May Meet As Tycoon Demands New Poll

The Virgin tycoon Sir Richard Branson has held secret talks with Theresa May in an effort to boost his plea for a second referendum on the UK's membership of the European Union (EU).

Sky News understands that Sir Richard and the Home Secretary, who is the front runner to succeed David Cameron as the Conservative Party leader and Prime Minister, met last week following his warning that Brexit would cause "long-term damage [to Britain's economy] that is on the verge of going beyond repair".

A source close to the Virgin founder said the meeting should not be interpreted as him offering support for Mrs May's leadership bid, although it was unclear whether he had also discussed his views on the referendum with any of the other four candidates for the Tory crown.

"There is no political endorsement and there was no ask of her beyond the need for politicians to show leadership," the source said.

"Richard simply explained why he felt there needed to be more details on what Brexit means and for the options to be debated in parliament."

Mrs May has publicly ruled out the prospect of a second referendum, saying: "Brexit means Brexit."

A source close to the Home Secretary said she had made that position clear during her meeting with Sir Richard.

The Virgin Group founder said last week that his company had cancelled a deal to acquire an unnamed UK-based company in the wake of the referendum result.

He also pointed to the slide in the share price of Virgin Money in the days following the Brexit vote.

In a blog-post published on 27 June, Sir Richard wrote: "The vast majority of MPs voted in by the electorate want the UK to stay part of Europe.

"In light of the misrepresentations of the Leave campaign, Parliament should reject the results of this non-binding referendum as Nicola Sturgeon has announced she will do in Scotland's Parliament.

"Before the UK government invokes Article 50 of the European Treaty and does irreversible damage to the United Kingdom, the people's elected representatives must decide whether the facts that have emerged really warrant abandoning the EU and whether a second referendum will be needed."

Sir Richard's talks with Mrs May come amid a flurry of talks between ministers and business leaders as the Government seeks to demonstrate that it is exerting a grip on the UK's post-referendum economy.

On Tuesday, the Chancellor George Osborne met the chairmen of the leading UK banks to inform them that the Treasury's Funding for Lending Scheme will be extended in order to stimulate continued lending activity.

Sky News understands that Sajid Javid, the Business Secretary, will meet executives from the financial services industry on Wednesday, as part of ongoing engagement with executives (Other OTC: UBGXF - news) .