Brexit may not happen as 'older generation' of Leave voters are dying, says Richard Branson

'I think within five years there will be a government in power in Britain that will ask Europe for a chance to let Britain re-enter,' Virgin founder says

Brexit may not happen as the "older generation" that voted leave is dying off, according to Richard Branson.

The Virgin founder said he believed a second referendum will eventually take place, which will see the British people "absolutely" vote to remain.

The 67-year-old called Brexit the "saddest thing" that ever happened to Great Britain, but said he believes the UK will rejoin the bloc.

"The older generation is dying off. So whether there’s a second referendum before Brexit happens - I’m sure the Tory party will do their best not to allow that to happen - but I think within five years there will be a government in power in Britain that will ask Europe for a chance to let Britain re-enter," he told Irish broadcaster RTE.

"Because there will be so many young people who will be a little bit older by then and so many of the older grandparents who voted for Brexit will have died off, I think that Britain will become part of Europe again."

Sir Richard said the public had been "misled" by one or two politicians, specifically citing Foreign Secretary Boris Johnson who campaigned for Vote Leave.

He believes there was a "ghastly misrepresentation of reality. A picture was painted that was completely unreal."

It is not the first time the entrepreneur has called for a second referendum.

After the vote in June 2016, Sir Richard called for Parliament to reconsider the result.

In November, The Independent revealed Virgin had pledged at least £1m to fundi a pro-Europe campaign, which could eventually focus on securing a second referendum on the exit terms that emerge after two years of UK-EU negotiations.