by Charles Woolfson
One of Britain’s most celebrated entrepreneurs and an avid supporter of Brexit in the business community, the inventor Sir James Dyson, has argued that World Trade Organization tariffs are not a barrier to financial success or profitable trading with Europe, nor have they prevented his technology company from achieving record financial results. As Sir James put it, the tariffs were “tiny penalty to pay” compared to other taxes such as corporation tax (The Guardian, 27 March 2017). Dyson’s announcement of new investment of 2.5 billion pounds, in order to build a research and development campus in the UK has been enthusiastically welcomed by Theresa May as an example of investor confidence in the Britain’s post-Brexit prospects. Less publicized is the announcement that Dyson is also to invest in Singapore, not just in new production facilities, but in associated R&D employing high skill graduates.