Barclays – robbing the poor to pay the rich

Posted on

There's a follow up to yesterday's blog on Roger Jenkins - the man who earns £40 million a year tax dodging for Barclays Bank. The London Evening Standard gave this two pages today, and quoted me. First they quoted me saying that I felt that tax avoidance is unfair, and then said:

Unfair to whom, one is tempted to ask?

"Everyone" Richard Murphy said. "What Barclays is doing is basically taking tax revenues that belong to governments. They are reducing tax charges for some of the world's richest individuals and corporations by using very clever tricks. Double dipping means that they can get two lots of tax deductions or, less commonly, an income stream on which they don't pay tax. It means the rest of us have to pay more tax to fund it."

Barclays did not comment to the Standard.

The Standard made clear that what Jenkins does is legal.

But I'll say loud and clear: that does not make it ethical.

PS Web link now available