Interview James Dyson
'Failed Brexit deal is not a problem'
James Dyson, one of the richest persons in the United Kingdom, is not only the man behind the well-known vacuum cleaner brand. The entrepreneur is also the largest arable farmer in the country. In a short period of time Dyson invested huge sums of money in land. He has a reassuring announcement for British farmers: a failed Brexit deal with the EU will not affect their income.
British weekly The Spectator interviewed Sir James Dyson about his views on Brexit and the impact it will have on the country's economy. He is very optimistic about the future, even if a deal with the EU fails. "I have great confidence in our ability to negotiate trade agreements with countries outside of Europe: Japan, Australia, China, America, etc. Negotiations like this are very simple. It's between them and us. We don't have 27 other countries to befriend. to hold." Dyson is convinced that a trade agreement with the EU will not come.
No EU deal? no big deal
In the absence of an agreement with the EU, the United Kingdom falls back on World Trade Organization (WTO) rules. "No big deal" he calls that in the interview. For Dyson's company, it means a 3% export tariff. “When we lower corporate tax slightly, those costs are already offset,” he says.
More land than the queen
The magazine was the first to have the opportunity to visit Dyson's agricultural empire. A painstakingly well-hidden secret. In the counties of Lincolnshire, Oxfordshire and Gloucestershire, the entrepreneur quickly bought 13.500 hectares of land. This makes him the largest private arable farmer in the country. He has more land than the British Queen. He has to make do with a meager 8.000 hectares.
Loss on mega company
Farmer's blood runs through his veins. Dyson himself was working in agriculture when he started his career. "It hasn't gotten any easier to be a farmer since the 50s and 60s," he says. Last year the company lost £4 million (€4,46 million) and this year it is expected to lose £2 million (€2,23 million) on its business.
Invest €84 million
Dyson has a net worth of £7,8 billion, according to the Sunday Times. With nearly 8,7 million losses, people need not feel sorry for him, says the billionaire himself. He put €4,5 million of his equity into the arable farm to modernize it and invest in the environment. That does not include the cost of the land itself.
1,78
million
CAP costs farmers money
"The farm has been paid for with hairdryers," he jokes. The 69-year-old billionaire talks just as enthusiastically about draining a plot as he talks about the Brexit negotiations. The investments he makes are not business loans. He himself calls his agricultural venture environmental philanthropy. When British Agriculture Secretary Michael Gove said in a TV interview that super-rich farmers, with Dyson as a shining example, would no longer receive subsidies after Brexit, Dyson was not amused. Greenpeace recently calculated that it rakes in €1,78 million in subsidies each year through the CAP. "If you subtract all the necessary costs from this amount, there is much less left," he says in defence.
Focus on biogas
Beeswax Dyson Farming, like the company hot, annually produces 25.000 tons of wheat and 4.500 tons of canned peas. Potatoes are also grown on the farm. This year Dyson is investing €5,5 million in new drainage. Projects he visibly enjoys. The company also invests a lot in biogas. Depreciated crops and waste are fermented there. The residual heat that is produced dries the grain in turn. Beeswax calls itself a high-tech farm. For example, a qualified drone pilot is employed to map out problems.
Little farmer is having a hard time
Dyson fears that British farmers will no longer invest in the environment after Brexit, as subsidies are cut or disappear. Moreover, they are at a disadvantage compared to their European counterparts. "Supermarket chains will continue to buy potatoes in the Netherlands when they are cheaper", is his idea. He especially fears for the future of small businesses, because they are very vulnerable to price fluctuations. "Hopefully in the future we will be able to eliminate the middlemen and earn more by delivering directly to the supermarket or customer," Dyson thinks.
He is not a fan of import tariffs and subsidies. That is why he hopes to speak as ambassador for all farmers in the United Kingdom during the Brexit negotiations. He sees his own agricultural adventure as an investment for the next 100 years, from which his grandchildren can also benefit.
Read the full interview with Sir James Dyson on The Spectator.
Cover photo: BusinessInsider.
Niels van der Boom
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