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Labour warns of ‘culture of short termism’ in British industry after Dyson move to Singapore

LABOUR urged the government to tackle the “culture of short termism” in British industry today after Dyson announced its intention to move its headquarters to Singapore.

The technology company’s head offices will be moving from Malmesbury in Wiltshire to Singapore this year, it announced today.

Dyson boss Jim Rowan told the BBC that the decision was to establish Dyson as a “global company.”

He said: “The decision is to make us future-proof for where we see the biggest opportunities.”

The company, which announced in October that its new range of electric cars will be built in Singapore, claim that no jobs will be affected.

However, shadow business secretary Rebecca Long Bailey said that the move will cause anxiety for Dyson workers and represented a “huge blow” to the government’s industrial strategy.

She said: “For too long this government has allowed a culture of short termism to work its way into some of our greatest British businesses, while those businesses doing the right thing and investing in their communities and workforce for the long term are left wanting, with little government support.”

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