The Guardian notes this morning that:

Sainsbury's chief executive, Justin King, has challenged senior business leaders and fellow retailers over the UK corporation tax furore by arguing that the issue is a question of morality, not legality.

He criticised companies that argued they paid enough tax legally and said there was no moral high ground in making such statements. The boss of the UK's third-biggest supermarket also warned that companies with aggressive tax arrangements faced a boycott from consumers who view tax from an ethical standpoint.

He's right, of course.

But why in that case has his group got nine tax haven subsidiaries about which they choose to say remarkably little?