Economy

James Dyson on Brexit: UK needs a "clean break" from EU

James Dyson on Brexit: UK needs a

Sir James, who backed the Brexit campaign in 2016, said he was comfortable with Britain instead switching to the tariff system used by the World Trade Organisation, and to turning its attention away from Europe. That's where the opportunities are - not Europe.

He said that his firm, which manufactures vacuums and dryers in Malaysia and Singapore, already pays WTO tariffs when it imports goods into the EU. "We don't view it as a single market, it's actually a very complex and broken-up market".

Dyson said any uncertainty from Brexit or elsewhere is actually an opportunity: "The rest of the world is growing at a far greater rate than Europe, so the opportunity is to export to the rest of the world and to capitalize on that".

Dyson was an ardent backer of the Leave campaign past year and doesn't see a problem with the United Kingdom defaulting to World Trade Organization rules when it leaves the bloc in March 2019. "So just have a clean break, it's not a big deal", he told Sky News.

"It's now down to 12 per cent and in about five years' time it will be nine per cent of world trade".

A spokeswoman for Dyson at the time said that over the longer term, the group aims to double its United Kingdom workforce.

'The fastest growing sector is, of course, in the far east, China and the far eastern countries where we're growing by about 80 per cent or 90 per cent a year.

According to Dyson, 27% of the undergraduate engineers starting this year will be female, significantly more than the United Kingdom average of 16%. They will benefit from learning high level science and engineering theory, combined with real-world application on live projects.

James Dyson said: "Dyson's undergraduate engineers will develop new technology alongside world-leading engineering practitioners, creating real products that end up in homes around the world and all alongside their academic work".

However, the chairman of the John Lewis Partnership, Sir Charlie Mayfield, told the Today programme that the pound and business confidence had been hit by the Brexit vote.

'We should be under no illusions, Brexit is having an effect on the economy, no question, ' he said.

"Uncertainty is one of the consequences of this, and of course businesses never like uncertainty, because it makes it hard to plan for the future", he added.



Like this

loading...
loading...

Latest


15 September 2017
United Kingdom retailer Dunelm warns on spending squeeze as sales fall
The company said at the time that "the next phase of its growth requires different leadership". Four new stores have already been opened in the new year of the eight openings planned.

15 September 2017
US EPA postpones power plant effluent guidelines
Compliance dates for the rules, which were issued in November 2015, have been pushed back by two years, the EPA says. That lawsuit is pending, and environmentalists say they'll challenge the new move as well.

15 September 2017
Fracaso Felino en Copa MX
Tan sólo con el sueldo de André-Pierre Gignac , se podría adquirir el cien por ciento de la escuadra de Morelos. El club morelense calificó con siete puntos en el segundo puesto del Grupo 5 .

15 September 2017
Supernatural Assassin | Dishonored: Death of the Outsider [Launch Trailer]
With the game releasing on September 15, 2017 , Bethesda Softworks chose to release a launch trailer to get gamers ready for the Death of the Outsider .

15 September 2017
Apple iPhone X & 8 Hands Apple Ecosystem An Expansive U-Turn!
It was that all of the company's newest lines of phones-the iPhone 8 , 8 Plus, and X-will all support wireless charging. At this point in time, Apple does not sell the AirPods case separately.

15 September 2017
Senators forward Clarke MacArthur fails physical
He seriously contemplated retirement before finally receiving the go-ahead to return in the final week of the regular season. Insurance would cover 80% of the salary, meaning the Senators would have the salary room to replace him with another player.

15 September 2017
Student sues OH university to play football this season
Richmond's attorneys argued that not allowing him to play could hurt future prospects of an National Football League career. Richmond is asking for reinstatement to the team's active roster, attorney fees and an unspecified amount of damages.

15 September 2017
Alphabet mulling investment in ride-hailing giant Lyft
Waymo alleges Uber stole trade secrets when Anthony Levandowski, a former Google engineer, joined the ride-hailing company. Representatives of both Alphabet and Lyft representative declined to comment on the potential investment.

15 September 2017
'Bullet train not common man's dream'
Japan was going to fund 80% of the project through a soft loan of Rs79000 crore at an interest rate of 0.1%. We do not know exactly which problem will this solve. "Bullet Train is not India's ordinary masses" dream.

15 September 2017
Lynx's Sylvia Fowles named WNBA MVP
Fowles was widely expected to win the award after she averaged 18.9 points and 10.4 rebounds a game in the regular season. - Minnesota Lynx center Sylvia Fowles was voted the 107 WNBA Most Valuable Player, the organization announced Thursday.