As the UK spins and spins in the grip of the powerful Brexit vortex, there’s been some interesting things happening, beyond the already observed possible Russian entanglements. For example, businessman James Dyson’s strange move:
The decision by British technology firm Dyson to move its head office to Singapore has prompted a predictable backlash in its home country.
The British press seized upon Tuesday’s announcement as further evidence of hypocrisy on behalf of the firm’s founder, James Dyson, who has been vocal in support of Britain’s decision to leave the European Union (Brexit), yet – according to some – appears to have hedged his bets when it comes to his own business. Dyson’s latest move follows the firm’s announcement in October that it would use Singapore as its base for its ventures into the electric car market. …
Still, despite Dyson’s denials, there are hints that Brexit and its possible effect on the firm’s supply chain is an accompanying factor behind the shift.
Dyson’s chief executive Jim Rowan has been quoted as saying: “If your supply chain is in Asia, and you are manufacturing in the Philippines, Singapore and Malaysia, then obviously you don’t get badly affected with those changes post-Brexit.” [South China Morning Post]
It’s more than a little disturbing that a Brit citizen and business owner who advocated for the exit of the UK from the EU has chosen to move an important part of his business, and necessarily some good jobs, out of the UK, now that his Brexit plan has nearly come to fruition. Presumably, if he was honest in his advocacy, he should believe that benefits, including those of an economic nature, coming from Brexit should be on the horizon, and he should be staying to reap them – or, if he was wrong, to stand strong with his country, to accept responsibility by having his company accept the repercussions.
The fact that he doesn’t, for those of a paranoid nature, suggests one of two possible conclusions. One, he’s been compromised and promoted Brexit at the behest of his handlers. Or, two, he felt that Brexit would improve his company’s position in the world, but only if the company moved out of the UK.
Neither conclusion is acceptable for a man of honor.
But Mr. Dyson isn’t the only interesting development. From the Independent:
Prominent Brexiteer Jacob Rees-Mogg has defended the move by a City firm that he helped to found to establish an investment fund in Ireland ahead of the UK leaving the European Union.
The Conservative MP faced questions when it emerged that Somerset Capital Management (SCM) had launched a new investment vehicle in Dublin amid concerns about being cut off from European investors.
A prospectus for the new business, which was registered in March and will be governed by EU and Irish rules, listed Brexit as one of the risks, as it could cause “considerable uncertainty”.
The disclosure is potentially embarrassing for Mr Rees-Mogg, who has been one of the most vocal advocates of a clean break from the EU through his role as chairman of the European Research Group (ERG), a powerful Eurosceptic group of backbench Tories.
Again, one is left wondering how much his heart is in the UK, and how much it is in profits and more profits. Perhaps he has no control over the firm he founded, as such things often happen, but it’s still very bad form and reflects poorly on him – at best.
Waiting for more to emerge.
