The company, which is famous for its vacuum cleaners and other gadgets, distances itself from any suggestion the decision is down to the general election result, having previously criticised the economic plans of both the Conservatives and Labour, or Brexit.

Dyson has revealed plans for 1,000 job losses in the UK.

The manufacturer of innovative vacuum cleaners and other products said the cuts, which amount to more than a quarter of its UK workforce of 3,500, followed a review of its global needs.

It is understood that the decision is not linked to the UK general election, as the process had begun beforehand.

The company’s founder Sir James Dyson had previously been critical of the Conservative government’s approach to economic growth and science.

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The billionaire entrepreneur, who spoke out in favour of Brexit, denied the move was a reaction to the UK’s departure from the European Union.

Asia has long been Dyson’s manufacturing base due to lower costs and its core growth market for sales.

By moving to Singapore, Dyson also took advantage of the EU’s free trade agreement with the city state, averting Brexit trade rules.