So the UK's only world leading hi-tech company is being sold off for £24bn.
Hermann Hauser just tweeted "ARM is the proudest achievement of my life. The proposed sale to SoftBank is a sad day for me and for technology in Britain." The irony is that May & Hammond are quickly saying the sale to Japan's SoftBank is a great thing... despite May's policy speech a week ago in which, according to Robert Peston, she "was completely unambiguous that she opposed foreign companies buying our strategically important businesses."
And so instead of protecting British long-term R&D interests, we are gladly allowing key companies to be sold off in order to try and attract foreign investment when many indicators show the Brexit vote has caused foreign investment being frozen. So much for supporting British-grown companies. Did you know that out of the world's top 50 R&D companies, 17 are EU-based, but only two of those are UK companies? (Astrazenica and GSK). Our Big R&D sector is vulnerable and it is now being hollowed out further.
Incidentally, Hermann Hauser tweeted the following on June 24th and 25th: "Brexit: Britain's worst own goal in history." and "An innumerate clown has wrecked a country #Brexit"