Brexiteer James Dyson is to move his business out of Britain to Singapore
PUBLISHED: 16:22 22 January 2019 | UPDATED: 16:38 22 January 2019
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Brexiteer businessman Sir James Dyson is to relocate his head office from the UK to Singapore.
The bombshell announcement will mean Dyson is no longer a British registered company and Singapore will become its main tax base.
The headquarter switch from Malmesbury, Wiltshire, is likely to prove controversial given that Sir James - the company’s billionaire chairman, founder and owner - is an outspoken supporter of Brexit.
It is the second blow Dyson has dealt to Brexit Britain after last year’s announcement that it will manufacturer its new electric cars in Singapore, rather than the UK.
In justifying the move, chief executive Jim Rowan dismissed the idea of Brexit and lower taxes being a motivation.
“The move is nothing to do with Brexit or tax, it’s about making sure we are future proofed. There are huge revenue opportunities in Singapore, China is the poster child of that,” he said.
“The tax difference is negligible for us, we are taxed all over the world and we will continue to pay tax in the UK. We will continue to invest in the UK, in Malmesbury, in Bristol and London.”
Rowan confirmed that Sir James was integral to the decision to ditch Britain.
The firm said in a statement: “An increasing majority of Dyson’s customers and all of our manufacturing operations are now in Asia; this shift has been occurring for some time and will quicken as Dyson brings its electric vehicle to market.
“We are now at a point where Dyson’s corporate head office will relocate there to reflect the increasing importance of Asia to Dyson’s business.”
Dyson said back in 2016 ahead of the Brexit vote: “We will create more wealth and more jobs by being outside the EU. We will be in control of our destiny. And control, I think, is the most important thing in life and business.
“The last thing I would ever want to do is to put myself in somebody else’s hands. Not just the other countries, but the Brussels bureaucrats.”
He added: “Why on earth would you chuck out researchers with that valuable technology which they then take back to China or Singapore and use it against us?”
Best for Britain supporter Layla Moran MP said it was “staggering hypocrisy” for the Brexit-backing businessman.
She said: “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.
“Rather than fleeing can I suggest he maybe donates to the final say campaign to help mop up some of the disaster he created. This is a damning for the government.”