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Millionaire Brexit backer Arron Banks has revealed that he thinks the UK should have remained in the EU.

The businessman who bankrolled Leave.EU made the startling admission to the BBC's Andrew Marr.

He said: "The corruption I've seen in British politics, the sewer that exists and the disgraceful behaviour of the government over what they're doing with Brexit and how they're selling out means that if I had my time again I think we would have been better probably to remain and not unleash these demons."

Mr Banks, the subject of a National Crime Agency probe into the source of payments worth £8 million was asked extensively about the source of Leave.EU's funding.

He insisted all the money came from a UK-registered firm, Rock Services.

(Image: PA)

In an interview in which Mr Banks accused the Electoral Commission, the Financial Times and the Observer newspaper of being biased, the the businessman insisted there is "no Russian money and no interference".

It comes after a probe was launched into "suspected criminal offences" over millions of pounds of campaign funding during the Brexit referendum.

The investigation was launched after the elections watchdog said it had reasonable grounds to suspect that Mr Banks was not the true source of the cash.

But the businessman told The Andrew Marr Show: "There was no Russian money and no interference of any type. I want to be absolutely clear about that.

"The money came from Rock Services which was a UK limited company, it was generated out of insurance business written in the UK.

(Image: AFP)

"Contrary to some of the press reports in the FT (Financial Times) and other Remain-leaning publications, we insure nearly half a million customers a year - the size of Manchester.

"We turn over £250 million of premiums, it's a sizeable business."

The Electoral Commission’s review focused on £2million reported to have been loaned to Better for the Country by Mr Banks and his insurance companies, and a £6million donation he made alone.

It also said loans involved a company, Rock Holdings, based on the Isle of Man, which was impermissible under the rules.