£40 million tax dodger

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The Business reports that Roger Jenkins at Barclays Capital (a subsidiary of Barclays Bank) was paid £40 million last year.

I've commented previously on his activities. Let me be unambiguous about why he's paid this sum though. It's because he's successful at diverting (some might call it little less than stealing) tax due to governments to benefit his bank and its clients.

This makes a mockery of Barclay's claims on CSR:

Corporate Responsibility for Barclays is embodied by the concept of 'responsible banking'. Responsible banking is an integral part of the way we do business, and a central element of our overall strategy to make Barclays one of the world's leading banks. Responsible banking means making informed, reasoned and ethical decisions about how we conduct our business, how we treat our employees and how we behave towards our customers and clients.

It does more than that though. The fortune that Jenkins costs the governments of the world means that the richest people in the world get richer at the expense of the poorer members of society. In this context that's 95%+ of the world's population.

That's why I call this stealing. And it's why I think Barclays is a prime exponent of corporate irresponsibility.