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.



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