Dyson moves HQ to Singapore - who have just signed a free trade deal with the EU

[CloudPop]

So having aggressively backed Brexit, he sets himself up to be able to continue free trade with the EU which he can't do from the UK.

{So he can probably write off what little UK tax the business would still owe. Duplicitous bastard. }
I hope you are applying similar thoughts to the ERG members, as they are all keen on not paying UK tax.

Same as ElvisParsley I won't buy another Dyson.

Rees Mogg did something similar I think (business HQ in Ireland?)

I love all the BeLeavers/No Dealers trotting out to defend him. It's pathetic.

He’s not getting rid of any staff over here, and is investing nearly a quarter of a billion pounds in new facilities in the UK; so he is hardly abandoning the country. Dyson already has a presence in Singapore anyway, but at the end of the day it’s a private company and he can do as he wishes. I would suspect the appeal of a free market in China is more of an incentive than with the EU.

Haha I’m desperate to remain, and I think if anything his decision increases the likelihood of revoking Article 50 and couldn’t have come at a better time.
But... I live near Malmesbury and have lots of friends who work for Dyson and this is two jobs out of 4500 there. Don’t have to love Brexit (or Dyson) to point out he will still be a major employer in the UK. Or are we not allowed to point out when people are making stuff up unless they are on the other “side”?

It's not about staff. It's about taking steps to position his business in a way that insulated them against the negative effects of Brexit. Which JRN has done. Which ordinary people cannot hope to do. It's hateful.

JRM - get the twat's name right.

We were getting told that Brexiteer would make everything brilliant for British businesses. No more red tape, we can concentrate on them and do what we want.

If brexit was going to be so great, there would be no need for him to move his HQ to Singapore. I know it doesn’t affect the jobs here in the uk. But, Dyson is telling us that leaving the uk will be good for us, whilst he moves his hq to Singapore and takes advantage of a new trade deal between the E.U. and Singapore. He’s not willing to separate his company from the E.U. but we should accept being separate?

They call it “future proofing” but normal people can’t future proof their lives against the effects of brexit.

I’ve always thought that Dyson’s domestic appliances were aimed at people with more money than sense. Do enjoy using his hand dryers though. And you can’t knock his huge investment in UK engineering jobs and training.
He has presumably moved his electric car manufacturing to Singapore because he sees the big market for his electric cars as being in Asia rather than Europe. He has ambitions to be a global force in electric cars. If that works out, it will be good for the UK, won’t it?
BBC article here is quite interesting. Dyson's move to Singapore could help the UK.
www.bbc.co.uk/news/business-46968726

Puggles123; I would suspect the appeal of a free market in China is more of an incentive than with the EU

Puggles is right;

5th November 2018: Singapore-China conclude talks to upgrade free trade agreement
www.channelnewsasia.com/news/singapore/singapore-china-conclude-talks-to-upgrade-fta-10899804

Singapore businesses can expect to enjoy greater access to the vast Chinese market and greater certainty in their investments when the upgraded CSFTA takes effect

The EU haven't got a free trade agreement with China.

Dyson plans to start selling a "radical" electric car from 2021.

China is becoming the electric car market for the world
qz.com/1376470/china-is-becoming-the-electric-car-market-for-the-world/
Aug 2018: The Chinese will likely buy more than 1 million EVs this year—a number set to double within two years—according to a report shared with Quartz from Cairn Energy Research Advisors (ERA), an energy research and consulting firm EV sales in China are projected to exceed 2.35 million by 2020, and account for half the world’s market over the next decade

Dyson in 2016: EU exit will 'liberate' UK economy
There are very exciting markets outside of Europe - the Far East is expanding at a phenomenal rate
www.bbc.co.uk/news/business-37352312

However - he wasn't expecting Teresa May's WA;

Boris Johnson: No wonder Dyson's off to Singapore
Under the government's Brexit plan, the EU will set the tariff on UK imports of the Dyson electic car - and collect 80 per cent

www.telegraph.co.uk/politics/2018/10/28/no-wonder-dysons-singapore-britain-currently-doomed-humiliation/

23 Jan 2019: BBC's Asia business correspondent
Dyson's move to Singapore could help the UK
www.bbc.co.uk/news/business-46968726

The better Dyson's business does in Asia - the more likely more tax will be paid in the UK by Sir James and his shareholders on the dividends they receive from the profits the company makes in this fast growing region

Post-Brexit no matter what happens, focusing on a growing part of the world makes financial sense and should ultimately be a win for the UK

Dyson saw profits jump by a third in 2018, posting just over a billion pounds last year. By some estimates as much as 70% was powered by Asian growth

Analysts say that with Dyson's increased investment in Asia, there will be a corresponding requirement for more jobs here - as the firm will need British expertise in research and development

Dyson hasn't actually manufactured anything in the UK since 2003, however he is still investing millions/billions on research and development facilities here.

millyonth
Cross post!

Presumably Dyson and family are already paying tax on dividends etc here already? and are unlikely to want to take more money out of the company.....
Given China is perfectly able and willing to do its own RnD and make equal or better technical products than the West can, i would imagine his driver is to avoid getting sucked into any future protectionist disputes and keep access to the Chinese market......until china starts making better cleaners!

But what i take from Dyson is that good UK companies can become world beaters from start ups in the EU and blows a hole in the idea that we need to leave in order to prosper.

Great for Dyson. Great for forgotten man/woman in Ebbw Vale who voted in a way that suits people like Dyson? Not so much.

I have loathed James Dyson for years. He's a massive hypocrite. Styled himself this great British inventor figure, flying the flag, proud to be British etc etc. He moved hos manufacturing to the Far East a decade ago. Fails to ever mention that. He's a knob.

Seeing as Dyson lovers are quoting bbc articles in support of him, try this one on for size:
Brexit uncertainty is a disgrace, says Airbus www.bbc.co.uk/news/business-46984229

All good news for British businesses and employers, eh?

The most important thing to understand is that in itself the UK is approaching irrelevant in terms of global industry compared to it's place during the industrial revolution.
The UK does have brilliant designers and technologists, but the country itself cannot support manufacturing alone, so it HAS to collaborate with others, partly for the technology, and more importantly for the raw materials. In the past, colonising and raping Rhodesia (Zimbabwe) for copper and other countries was 'the way' to retain dominance. That has largely stopped as a COUNTRY level although massive corporations have taken over as dominant players. Since people want STUFF, the power has gone to industry rather than country. The UK gov have dropped the ball on this in a massive way by retaining the idea that UK is 'great'.

Just read this;
Davos: Liam Fox agrees future trade deal with Israel
www.cityam.com/272092/davos-liam-fox-agrees-future-trade-deal-israel-uk-seeks

On eve of Brexit: UK Exports to Israel soar by 75%
Exports to Israel rose to $3.45 billion first half of 2018, official Israeli figures reveal
www.gov.uk/government/news/on-eve-of-brexit-uk-exports-to-israel-soar-by-75

Hooray! That economic powerhouse and enormous market ... Israel. Like the E.U. because they participate in Eurovision. And such a stable part of the world too. Our economy is saved.
Keep 'em coming. I'm just so optimistic now.

I am lucky, my Dyson has just died. Miele for me next time.

Peregrina what a bizarre coincidence - thou art blessed!

Regarding Israel we already had a free trade agreement with them of course through the EU.

But at least it's something. Will the visa situation between us and Israel change. Interesting old article about Abramovich switching UK passport for Israeli one.

www.timesofisrael.com/abramovich-will-require-visa-to-work-in-uk-if-he-enters-on-new-israeli-passport/

Yep, he's sorted himself/company out. He can move the HQ to Singapore to take advantage of EU-Singapore and China-Singapore trade deals.

Whilst the shareholders will still pay dividend tax in the UK, the corporation tax is no longer paid in the UK.

I get that he is still continuing with R&D in the UK. But, to be supporting Brexit in the way that he has been is just rude.

Keeping in mind that not all UK companies are in the right sectors, or big enough to be able to do what he has done, it's not great for everyone. He's in a position where he can keep access to certain markets, avoid anything Brexit related that would hinder his access. And, at the same time he's telling us that Brexit is great when not everyone's situation is the same as his. He's a hypocrite.

IIRC there is some legislation being passed in China which will enable a more level playing field in trade with China. It is due in a year or two, BMW have said they have a big new factory on the drawing board waiting for the ruling so it can start construction fairly soon.
I would hazard a guess that in a couple of years Dyson will 'suddenly realise' that his capacity in the UK is in the wrong place and just slide out. Interviewed in the Guardian in 2000 (?) he said he likes to keep production and R&D close.

@downthestrada totally agree. You've articulated my point very well

Davos: Liam Fox agrees future trade deal with Israel

....in principal!
so not really agreed at all... this from a Minister who had to resign after being a potential risk to national security.

Only 70 to go....... just to get to where we are now, i don't know who are the biggest fools, people like Fox or the people who believe his rhetoric.