Dyson invests £1 billion in UK engineers

James Dyson is to invest £1 billion in research and development in the UK to produce hi-tech exports.

Dyson invests £1 billion in UK engineersThe firm has committed £1 billion to develop 100 new products over four years.

“Export is vital for Britain to create wealth,” said founder and chairman James Dyson. “In order to export you have to have high technology products that are better than those produced elsewhere in the world.”

To boost UK research and development, engineers who come to study in UK universities should be encouraged to work in the UK after their course has finished, Mr Dyson said.

“One important thing we should do is to keep those engineers in Britain. A lot of them come from overseas, in fact, 90% of researchers at British universities come from overseas, and we must encourage them to stay here.”

“I would change our immigration laws to allow the right sort of people to stay here,” he said.

“I think it’s a European Union dominated by Germany, and in our particular field we have these very large German companies who dominate standards setting and energy reduction committees, and so we get the old guard and old technology supported and not new technology.

“I want to keep EFTA – European free trade – and free movement of peoples, but I don’t see that we need to be dominated and bullied by the Germans.”

Dyson’s £1 billion investment plan represents a significant increase in R&D spending at the company, which first made a name for itself selling bagless vacuum cleaners. Since then it has produced fans, heaters and powerful hand dryers for toilets.

Dyson also announced an extra £45 million investment in research at UK universities. The company has already made a commitment to spend £5 million on a robotics lab at Imperial College London, but there was no indication as to which other institutions would receive funding.

In January, the firm said it would invest £250 million to expand its Malmesbury research and development campus, and create 3,000 jobs.

Dyson also announced an investment of £200 million for manufacturing expansion in South East Asia. A proportion of the investment will go to its West Park motor factory in Singapore.

Dyson faced criticism for a 2002 decision to shift its vacuum cleaner manufacturing to Malaysia with a loss of hundreds of jobs.

Mr Dyson said; “We manufacture where our suppliers are in South East Asia and Singapore.”

He added that his family and firm paid UK taxes. In the past there have been reports of schemes being set up in locations including Malta for tax purposes, then wound down.

“It’s quite clear and quite simple,” Mr Dyson said. “Our companies are based here in Britain, I and my family are based here in Britain, and we all pay British taxes. We paid £330 million in the last three years. We have no companies based offshore at all now.”

November 21, 2014  Tags: , , , , , , , , , ,   Posted in: Business Development, Business Exports, Business Jobs, Business Sales, Business Win, Exporting Businesses, Global Business, Growing Business, Technological Businesses, Uncategorized, Winning Business

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