The global oil MNC said it would scrap its dual share structure and move its head office to Brexit Britain from the Netherlands, pushed away by Dutch taxes and facing climate pressure in court as the energy giant shifts from oil and gas. The move infuriated “Nexit” campaigners who were quick to blame the Dutch government’s submission to the EU for Shell’s decision.
Gleaming at the move, readers from Express.co.uk were quick to claim that Brexit Britain had more to offer.
Speaking of the notion that the UK offered two key factors that inspired the move, Dingleberry said: “Shell knows that the pound and English language are predominantly superior.”
Slamming the EU for its supranational control, The Almighty said: “To the people of the Netherlands. This is what happens when you have an unelected bunch of bureaucrats running your country and every other country in Europe. You lose your independence!”
PieterDusseldorf2076 claimed Shell would not be the first or the last to make such a move saying: “Regrettably, Shell will not be the last blue-chip company to leave the EU bound for the UK and her newfound freedoms.”
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Backing up the same argument, Durfel said: “A cold hard business decision – Shell are repositioning to where they believe that the company will have the best advantage. This will probably be the first of many such moves.”
One commentator directly attacked the Dutch leadership, stating that The Hague had been following French lines when it came to Brexit.
GiantDwarf said: “Couldn’t be happier. With the exception of the French, no one deserves this more than the Dutch. Rutte has been more than happy to bash Britain and it’s about time he got his comeuppance.”
One reader found that the move would be extremely costly to the Dutch government.
Camera12 said: “I was reading an FT summary which says The Netherlands will lose something in the region of £200Million tax revenue.”
Goldenoldie2017 however stated that the move might not be solely down to Brexit, but rather a money-saving exercise by the global giant.
They said: “As a Brexit supporter, I’m delighted that Shell, (which is the second-largest company on the FTSE-100) is moving their headquarters to the UK. However, this is more about TAX than Brexit. The Dutch corporate tax rate is 25%, which is offset by generous deductions and the Dutch scheme for reduced tax on dividend payments through Dutch Mixer Companies.“
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However, NoSmoking argued that Brexit was the main reason for the move by saying: “Has everything to do with Brexit, Shell see the collapse of EU & the euro it’s the prosperity of the UK & GBP that has made this possible.”
Many commentators debated how many companies had moved in both directions.
ForsdykeMotangue said: “The UK constantly comes top of the easiest place to do business in Europe. No doubt this decision was taken to take advantage of the London Capital Markets similarly with Unilever and the 1,200 other firms that have relocated to London from the EU in the last 2 years.”
However, some argued otherwise.
Upherds said: “Over 600 British companies have applied to move operations from the UK to Holland. One company is moving the other way.”
With the debate raging on as to the reasons for the move, one commentator summed up the move with a balanced view, and one that assures both sides that the future will be closely monitored.
Regor1, concluding the debate said: “Whatever the reason, it looks good for the UK and awful for the EU. Other companies will be watching this development with interest. This will not be the last, so get used to it.”