LABOUR donor and businessman John Mills has criticised Richard Branson’s claim that leaving the EU would be “catastrophic,” branding the Virgin tycoon “completely out of touch.”

The business bust-up came after Mr Branson said on Sunday that Britain’s membership of the “enormous trading bloc” put our economy in a “wonderful situation.”

He even suggested Britain would be better off adopting the euro, claiming: “I think that if we were part of the euro right now our currency would be a lot cheaper.