Bad for Business

BBC News reporting another company leaving the UK:

Panasonic will move its European headquarters from the UK to Amsterdam in October as Brexit approaches.

The aim is to avoid potential tax issues linked to the UK’s decision to leave the EU, said Panasonic Europe’s chief executive Laurent Abadie.

In the run-up to March 2019, a number of multinational firms have said they plan to move jobs out of the UK.

Several Japanese financial companies have said they intend to move their main EU bases away from London.

Panasonic’s decision was driven by a fear that Japan could start considering the UK a tax haven if it cuts corporate tax rates to attract business, Mr Abadie told the Nikkei Asian Review newspaper.

This is yet another indication of the future of post-Brexit Britain. It’s incredible that there are still Politicians who classify such actions as “Project Fear”, implying that it’s a worst cast scenario when in fact it’s a statement of fact.

What a sorry and unnecessary mess.