Multi-billionaire businessman Sir James Dyson has reiterated his support for Brexit, arguing that it is better to be “independent” – even if leaving the EU has made people poorer.
Britain’s fourth-wealthiest man was one of the most prominent UK business leaders to back Boris Johnson’s Leave campaign in 2016.
But the 78-year-old, who is worth an estimated £20bn, was criticised after moving his company Sir James’s global headquarters to Singapore in 2019.
Asked during a new interview with The Times if he believed Brexit was going well, he referred to the creation of the AstraZeneca vaccine, saying: “Well, you got a Covid vaccine before you would have otherwise. That’s the advantage of being independent.”
He added: “I can’t judge it. For me, it’s not whether it’s going well or not. It’s important to be independent and make your own decisions.
“Even if you’re poorer, worse off, it’s better to be making your own decisions than having supranational bodies making them for you. It’s that independence. I don’t want someone else telling me what to do.”
In his memoir, he argued that the EU’s free movement of people didn’t provide companies such as his with the right engineers, and that regulations, such as energy-label performance data, had hindered progress.
Asked if he regretted his stance and his involvement in politics, he said: “I regret getting involved, but I don’t regret my views.”
The pioneer of the bagless vacuum cleaner, Sir James’s company also produces air purifiers, hairdryers and other household appliances.
Responding to criticism about Sir James’s relocation to Asia, he added: “Well, I haven’t left the country.
“Also, Singapore is one of the most expensive countries in the world. I moved the headquarters there for totally different reasons.”
Those reasons included suppliers struggling to meet the demand of his growing company, and a skills shortage in the UK.
“I am one of Britain’s largest taxpayers. Establishing the HQ of Dyson in Singapore did not change where and how the revenue and profits are taxed. We still pay more tax in Britain than in any other country.”
Of Dyson’s 10,000 employees worldwide, 2,000 are in the UK, with major offices in Wiltshire, Bristol and London.
In July 2024, the company announced a global shake-up, which saw a third of its UK workforce made redundant.
Sir James’s family are among the biggest taxpayers in the country, and has contributed around £800m since 2019, as well as donating nearly £150m to charitable causes.
