How Does Panasonic’s Departure from the UK signify times to come?
Panasonic announced on Thursday that it would move its European Headquarters from the UK to Amsterdam to avoid ‘potential tax issues’ due to ‘Brexit-related concerns’. Now ordinarily this would not be such a big deal if it weren’t for the true reasons for Panasonic’s quick and decisive exit from the UK. The BBC states that the UK could lower business taxes in order to encourage businesses to set up shop in the UK. This has significant implications for the future as it presents the idea that the UK Government believes the UK is not a desirable location for businesses. This immediately presents Britain as a third world country, and fall from grace many are too afraid to admit. Panasonic also cited concerns over the free movement of goods as a reason for exiting the UK; the uncertainty for businesses with a No Deal Brexit looking more and more likely every day has presented industries with parts coming from all across Europe with huge issues. For example, the automobile industry regular