Posts Tagged ‘P&O’

250 + Companies to Leave UK for Holland Due to Brexit

January 25, 2019

According to yesterday’s I for Thursday, 24th January 2019, the Dutch are claiming that more than 250 firms currently based in the UK are planning to move across the North Sea to them due to Brexit. The article on page 10, entitled ‘More than 250 firms plan to relocate from UK to the Netherlands’ by Nigel Morris and Benjamin Butterworth began

More than 250 companies are looking to follow Sony by moving from the UK to the Netherlands because of Brexit, it emerged yesterday.

The Netherlands Foreign Investment Agency (NFIA) said that scores of companies with UK headquarters had expressed interest in relocating, and the number was expected to rise.

Many business chiefs have been dismayed by Theresa May’s refusal to rule out leaving the European Union without an agreement, leaving Britain immediately operating on World Trade Organisation rules.

The article then goes on to list some of the companies moving. They were Sony, Panasonic, which moved last year, P&O, while the car maker Bentley was stockpiling parts.

It quote Michiel Bakhuizen of the NFIA as saying

“The number of businesses we are in contact with for a possible arrival is growing. At the start of 2017 it was 80. At the start of 2018 it was 150, and now it’s more than 250.

“This increase will continue and it is not strange, because there is great uncertainty at the moment in Britain. And if there’s one thing that’s bad for business, it’s uncertainty.”

One of Tweezer’s little minions said in reply that it was clear that companies around the world would continue to invest in Britain and its people. Against this was the Labour MP Rupa Huq, who backs a second referendum. She said

“This shows the shrinking appeal of Britain as a decision-making base for top companies as a result of Brexit.

“The Japanese were supposed to be a top ally for Brexit, but time and again they have been shocked at the scale of self-destruction.” The below the article was another which also listed other firms leaving the UK. These included the Japanese financial houses Nomura Holdings and Sumitomo Mitsui Financial Group; HSBC, which is moving its HQ from London to Paris; Barclays and Bank of America, which are moving to Dublin, MoneyGram, which is going to Brussels; the European Medicines Agency, which is going to Amsterdam; the European Banking Authority is going to move to Paris, while the German engineering company Schaefler is going to close two of its plants, in Plymouth and Llanelli.

Brexit is going to be a disaster for Britain. but it’s going to be great for rich financiers like Jacob Rees-Mogg and Nigel Farage, because they can move their investments around the world without worrying about losing profits. It’s the rest of us, who depend on manufacturing and trade in goods for our jobs and businesses, who will take the real hit.

We were lied to by the leaders of the ‘Leave’ Campaign, who were chiefly members of the Tory right. Well, it’s high time to kick the Tories out of office and put in someone who really can clear up this mess: Jeremy Corbyn.

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Hypocrite Brextremist James Dyson Abandons Britain for Singapore

January 23, 2019

Mike over at Vox Political has put up a piece reporting that James Dyson, the multimillionaire inventor of the vacuum cleaner that bears his name, has abandoned Britain for Singapore after strongly promoting Brexit. He was one of the leading industrialists in Britain supporting the ‘Leave’ campaign, and when they won, he told the rest of us that leaving the EU’s single market would liberate the UK’s economy and allow us to make other trade deals with the rest of the world. He also said that we should leave the EU without worrying about an interim deal, because ‘uncertainty is opportunity’, and that they would come to us if we just walked away.

Dyson has shown how much faith he has in the British economy now that they’re due to leave the EU and the possibility of a ‘No Deal’ Brexit is unfortunately all too strong: he’s decided to abandon his present headquarters in Malmesbury for Singapore. He hasn’t any, and Mike’s article on this has a series of tweets from people criticizing him for his decision. One of those is ‘Shop Steward’, who tweeted

“The thing is he’s a multimillionaire so he could stay here and still make a profit In fact he could stay here, improve workers pay & conditions, and still make a profit …but greed won’t allow that. No, profit must be maximised at all costs because enough is never enough.”

Quite. Another commenter, Paul Bernal, asked how many other Brexiters have to leave the UK, either personally or just their businesses, before voters realise they were being conned. Gavin Esler, who I remember was the name of one of the Beeb’s foreign journalists, reported that P&O has just re-registered its UK fleet to Cyprus before Brexit.

Deeply Unhelpful Shelly responded to this with the observation that are probably very many others, who won’t make it public because they fear being attacked by the ladies and gentlemen of the media. Mike also observes that while P&O didn’t promote Brexit, they are sending a message to other businesses that they should get out while they can.

As for Dyson, Mike says

Dyson is on record, not just as a Brexiteer but as a Brextremist, and his decision reeks of the worst kind of hypocrisy.

He supported Brexit; he influenced other people to support it; and now he is abandoning us to the consequences while he scarpers, taking his business and any benefit it has for the economy with him.

Make no mistake: This man is toxic.

He has helped inflict economic ruin on the UK, both by encouraging us into Brexit and by taking his business out of the country before it happens.

See: https://voxpoliticalonline.com/2019/01/23/taking-vac-control-how-many-brextremist-bosses-will-leave-before-we-realise-weve-been-conned/

I’m not surprised that Dyson has run off to Singapore. He has previous on this. Here in the West Country, Dyson was regarded as one of the great molten gods of local business. Following the success of his vacuum cleaner, he appeared several times on the local news programme in the Bristol/ Somerset/Gloucestershire/Wiltshire are, Points West, whenever there was an item about local authority initiatives to boost business. But as I reported in a previous article, Dyson has moved his business out of Britain before. A few years ago he demanded that Bath council should allow his factory in the area more space to expand. The council told him they couldn’t. So Dyson picked up his ball like a grumpy child unable to get its way, and went elsewhere. I think he moved his business to Indonesia, or somewhere else in the Far East.

He didn’t have to do that. His business was perfectly profitable here in the UK. If there wasn’t enough space for it to expand in the area around Bath, he could have moved it elsewhere in the West Country or Britain. There would have been plenty of other places in Britain which would have been delighted to have him bringing work and jobs, particularly in the depressed areas of the North.

But Dyson didn’t take that option. He went to the Far East, where he knew he could make even bigger profits through exploiting the lower wages and poorer working conditions in the Developing World. This is the logic of neoliberalism. It’s done to allow capital to move their businesses around the world in order to reduce wages and take advantage of lower taxes in these countries. Just as Jacob Rees-Mogg has part of his money invested in Far Eastern companies through his capital management firm. And you can bet that the wretched authors of Britannia Unchained, who also believe that Brits should work longer hours for less pay in order to compete with the Developing World, are likewise also ready to run out on Britain the moment it suits them.

Dyson is a massive hypocrite, but he’s just one of many rich, Brexiteer businessmen, who promise that Brexit will bring prosperity and jobs to Britain, but realise only too well that it won’t. They’re now running off to the real low wage, low tax havens in the rest of the world, whose people they really want to exploit.

He’s toxic, and so are the rest of them. And they’re determined to wreck Britain. His attachment to Britain and the West Country was always questionable. We’ve lost nothing by his departure, but we should never have listened to him and those like him in the first place.