A couple of days ago I drafted up an item about business finally beginning to clear its throat on the dangers of Brexit. But I didn't post it because I could see The Guardian had produced more or less the same story (HERE). It starts with James Dyson, one of the idiots who urged Brexit on. His company has announced it is moving HQ to Singapore (HERE). Nothing to do with Brexit his CEO says but the timing is very odd isn't it? The report puts his profits at an astronomical £1 billion on a turnover of £4 billion or 25%! Now we know why his prices are so high. It isn't quality you pay for, it's mostly profit. Profits will now be taxed in Singapore. This is Dyson's way of helping post Brexit UK.
P&O have decided to reflag all their ships in Cyprus ahead of Brexit (HERE) with no attempt to explain it away as nothing to do with leaving the EU. It is a openly admitted to be a direct result of Brexit.
Sony have joined Panasonic and moved their European head office to Amsterdam (HERE) again with the admission it is caused by Brexit. On this blog I have been keeping tabs on companies making announcements to move to the EU which you can see HERE. It is far from complete since I don't always keep up to date.
But since the Guardian (and others) picked up the thread, we have more sobering pre-Brexit news from business. The Dutch government are confirming they are in talks with 250 UK based companies about moving to Holland (HERE) and the Airbus CEO, Tom Enders, is issuing warnings (HERE) and telling people to ignore Brexiteers who assume the company will never move out of the UK.
But since the Guardian (and others) picked up the thread, we have more sobering pre-Brexit news from business. The Dutch government are confirming they are in talks with 250 UK based companies about moving to Holland (HERE) and the Airbus CEO, Tom Enders, is issuing warnings (HERE) and telling people to ignore Brexiteers who assume the company will never move out of the UK.
"Please don’t listen to the Brexiteers’ madness which asserts that ‘because we have huge plants here we will not move and we will always be here’. They are wrong". Tom Enders
Different companies have different needs of course. Those with contingency plans in place must be thinking about pressing the button or risk real problems come March 30th. I still don't believe we will leave without a deal but I am not the owner or CEO of a company relying on cross Channel trade or EU exports. If I was I would have plans in place.
Sky News have got hold of a confidential report from the Border Agency (HERE) suggesting they expect the freight trade between Dover and Calais could fall by as much as 87% in a no deal Brexit. This would be putting a Brexit shaped foot on the nation's windpipe, slowly strangling the life out of British industry.
And the great paradox in all of this is that the UK employment figures continue to risne (HERE) and unemployment rose only slightly by a mere 8,000 so all good. It is certainly at odds with all the other business related news. We will get the economic growth figures soon and this may begin to paint a different picture.
I have always believed Brexit has come at the wrong moment for Brexiteers. If unemployment was high and began to fall after Brexit they might be able to take the credit. But unemployment is at historic lows and can only go one way from here - up. It will take some fast talking to convince people it had nothing to do with Brexit.
Update: Ford are now claiming a no deal Brexit will cost them £613 million in 2019 ,(HERE)
I have always believed Brexit has come at the wrong moment for Brexiteers. If unemployment was high and began to fall after Brexit they might be able to take the credit. But unemployment is at historic lows and can only go one way from here - up. It will take some fast talking to convince people it had nothing to do with Brexit.
Update: Ford are now claiming a no deal Brexit will cost them £613 million in 2019 ,(HERE)
