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City entrepreneur and prominent Brexit supporter Peter Cruddas has told 5 live’s Wake Up To Money that living in Monaco was a false economy.

He said anything that he saved was lost in the development of his business because he was distracted.

He also told the programme that he paid around £5m in stamp duty on his new £40m Mayfair home and that he thinks the tax is a disgrace.

However, he says he'll be paying around £100m in personal taxes this year and thinks it’s essential to pay what’s due. "When did you ever see my name on the list of some scheme?"

This clip is originally from Wake Up to Money on Thursday 18 August 2016.