Rupert Soames coined a rather useful new word the other day. The Brilo. Brilos, said Soames, who is the new president of the CBI, were companies that were “British in Listing Only”. While listed on the London share market, they made the vast bulk of their revenues outside the country.
Many of the largest companies in the FTSE 100 probably would be classified as Brilos. From Shell and Unilever to Rio Tinto and HSBC, only a small portion of their assets and jobs are based in the UK. Many are thought to pay only a fraction of their total taxes in Britain, too.
Soames was making a point about how Brilos compete globally for top talent. He is chairman of Smith & Nephew and is
