Back in September 2017, the pro-Brexit Dyson founder Sir James Dyson claimed the uncertainty following the EU referendum result created “opportunities” for Britain to export to the rest of the world.
Well, the first thing the fabled Knight of The Realm intends to export following Britain’s exit from the European Union, is the headquarters of the company that bears his name.
Dyson has announced it is moving its HQ to Singapore, despite the “opportunities” to hoover up the profits as Britain verges towards the cliff-edge of a no-deal Brexit.
Indeed, according to chief executive Jim Rowan “the biggest opportunities” are on the other side of the world, far from the British Isles. He claimed the shift to the Far East has nothing to do with Brexit, or paying UK tax, but “to make us future-proof for where we see the biggest opportunities.”
“We have seen an acceleration of opportunities to grow the company from a revenue perspective in Asia. We have always had a revenue stream there and will be putting up our best efforts as well as keeping an eye on investments,” he said (via BBC).
“We would describe ourselves as a global technology company and in fact we have been a global company for some time. Most successful companies these days are global.”
Dyson himself had previous described claims that post-Brexit Britain may exist in a vacuum when it comes to international markets as “absolute cobblers.” However, it appears Sir James isn’t quite ready for the British economy to blow hot and cold.
The decision comes after the firm already committed to building electric cars in Singapore rather than in the UK and, on Tuesday, Rowan confirmed that Dyson himself was involved in the devotion to shift the HQ to Singapore. Rowan said that the company will continue to pay UK tax and invest in its UK bases of Malmesbury, Bristol and London, where there’ll be no job losses.
MPs were less convinced by Dyson’s motives. Layla Morgan, a Liberal Democrat, said (via Mirror): “This is staggering hypocrisy for Brexit-backing businessman James Dyson.
“It is utterly unbelievable that the business face of Brexit is moving yet another part of his business out of the UK. James Dyson can say whatever he wants but he is ditching Britain. This can only be seen as a vote of no confidence in the idea of Brexit Britain.”
What do you make of Dyson’s decision to relocate its HQ to a place about as far away from Britain as it’s possible to get while remaining on planet Earth? Drop us a line @TrustedReviews on Twitter.