Looking at their annual report on company house, last year they had a total revenue of £228,923, hardly a “giant”.
UK chip giant: We'd be better off in the US - we can't even put in a plug here - CityAM
Submitted 1 year ago by Mex@feddit.uk to unitedkingdom@feddit.uk
https://www.cityam.com/uk-chip-giant-wed-be-better-off-in-the-us-we-cant-even-plug-in-a-plug-here/
Comments
RobotToaster@infosec.pub 1 year ago
fakeman_pretendname@feddit.uk 1 year ago
It seems purposefully vague about exactly what the problem apparently is.
In fact, reading it again, it sort of feels like you’re listening to the old drunk chap in the pub, who taps you on the shoulder and with great importance says:
“Ah well, but red tape you see, and umm, couldn’t even put a plug in you know… you’re not allowed to… haha… yes, but oh America, yes they keep asking and yes, but you can’t speak to them in Wales now, can you?”
tal@kbin.social 1 year ago
“We get approached by the US frequently. Whether it’s Arizona, whether it’s Indiana, whether it’s North Carolina, we’re constantly being approached and they’re putting things on the table: ‘We can offer you this, we can offer you that,”’ he explained.
My impression is that the EU -- dunno about post-Brexit UK -- has more-extensive restrictions on state aid, whereas US states have a pretty free hand in competing with tax breaks and the like on a per-company basis.
State aid law prohibits EU member states from granting aid in a manner that distorts competition and the European internal market.6 The application of state aid control to tax issues represents a unique intersection between competition law and tax law and is likely new for many U.S. tax practitioners. There appears to be no direct parallel in domestic U.S. law.
HeartyBeast@kbin.social 1 year ago
Sounds like someone is angling for some special treatment and a few tax breaks