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Brexit Britain paves way for Frexit as French admit jealousy after Shell moves to UK

EXPRESS

Brexit Britain paves way for Frexit as French admit jealousy after Shell moves to UK

BREXIT BRITAIN may have just paved the way for Frexit and added momentum to calls for France to leave the European Union after the French admitted jealousy over oil giant Shell’s major shift to the UK.

By PAUL WITHERS
In a huge win for Brexit Britain, Royal Dutch Shell is scrapping its dual share structure and moving its head office to Britain from the Netherlands. The company is dropping “Royal Dutch” from its name – part of its identity since 1907 – to become Shell Plc. The firm has been embroiled in a row with Dutch authorities over the country’s 15 percent dividend withholding tax on some of its shares, which makes them less attractive for investors.

The new single structure with all shares under British law means none of its shares would be under this tax and will also enable the oil giant to quickly strike sale and acquisition deals.

The Dutch government responded by saying it was “unpleasantly surprised” by Shell’s decision to move its head office from The Hague to London.

The move is seen as a huge vote of confidence in the City of London following the UK’s departure from the EU, which triggered a shift in billions of euros in daily share trading from the English capital to Amsterdam.

“There was an article in Le Monde in 2016 which explained that because of Brexit, the Netherlands wanted to attract British firms.

“I remind you that Macron said he was preparing to receive all the people from the City that were going to leave the UK to come and take refuge in France and that thanks to the EU they would be saved from the apocalypse. Then nothing.”

He added: “I have already explained the incredible propaganda we’ve heard on this subject.

“I have explained there would be no apocalypse and that the UK would be fine, even with less unemployment than us and now with a huge diplomatic victory with the US and Australia on the submarine deal.

“In addition to Google and Boeing, now this giant, Shell, has decided to move its headquarters to the UK.

“It’s a slap in the face to the Europeanists that deserves to be praised.”

Generation Frexit President Charles-Henri Gallois, a leading advocate of France leaving the EU, said “all the prophecies of the apocalypse of the Europeanists are ridiculed”.

Commenting on the move from Shell to move to the UK, he tweeted: “Unilever had already done the same at the end of 2020.

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