Thursday, November 17, 2016

The “Brit-Tech” is not afraid of Brexit – The World

The californian company Google has decided to build a building in the heart of London who is expected to receive 7000 employees. Evidence that the capital of Great Britain is always attractive.

World | • updated | By

The Googleplex in Menlo Park, California.

The station of King’s Cross, north London, is famous worldwide for its pier number 93/4, the one used by Harry Potter and his friends to switch to the magical world of the sorcerer’s apprentices. In 2020, the other side of the wall to the left of the train station, will also be in a parallel universe, that of the sorcerer Google. The california-based company is going to construct a building resolutely design of ten-storey and 60-400 m2. It is expected to house nearly 7,000 employees, 3,000 more than today. By far the most important european settlement of the american giant.

The mayor of London, Sadiq Khan, and the minister of economy, Philip Hammond, greeted the news with enthusiasm, as evidence that the Brexit was no longer afraid to foreign companies.

Read also : the economy of The United Kingdom sends mixed signals

It must be said that the country has spared no effort to retain the most famous flag-bearer of the global Internet. While Brussels battle still to rein in the powers of anti-competitive magician from Mountain View, London is attracted to his good graces by entering into a tax agreement putting an end to the proceedings brought by the british tax office. For balance of any account, the U.s. has paid 130 million pounds, when, in France, one digit beyond the billion the shortfall due to the acrobatics accounting Google. Recall that the latter had so far justified the modesty of its taxes to the british by the fact that there was no ” permanent establishment “. With the monument he will build at King’s Cross on its own money, it will be hard to argue that it is normal that income earned in Britain, be transferred directly in Ireland, the headquarters of his advertising agency.


Google, therefore, seems to make fun of the Brexit and its consequences. And in fact, the only thing that seems to be worrying the bosses of Google is the possibility of the employment of foreigners in London. There is no doubt that the first minister Theresa May will be sensitive to these arguments.

Because this episode stands as a reminder of a phenomenon that tends to minimize this side of the Channel : Brexit or not, technology like London. And not just Google. According to the latest figures from consulting firm EY, the investment in the start-up in the capital london increased further this year, reaching 1.3 billion euros in the first half of 2016, up from $ 1 billion to Stockholm and 673 million to Paris, which is two times less.

The French capital has a bit of a handicap to go up, and it did not take the path if we are to judge by the unwinding during the act Macron to the national Assembly to trim the tax benefits granted to creators of start-ups and investors. We are still looking for on the platforms of the gare du Nord train station, the passage of magic to the paradise of the French Tech.


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