The documents expose Barclays “tax-avoidance” measures—scamming tax-payers out of over £1bn.*
Or, to put it another way, the documents expose the fact that Barclays bank is using perfectly legal measures in order to maximise returns for shareholders.
Of course, if the directors did not take advantage of these perfectly legal measures then they could, ironically, be sued for failing to uphold their fiduciary duty to said shareholders and to depositors.
And Barclays are not "scamming tax-payers out of over £1bn": they are using (all together now!) perfectly legal measures, drawn up by the NuLabour government, in order to deny money to said government. And if you think that the NuLabour government are in any way the same as "the tax-payers" then you are a fucking moron.
Apparently, Barclays have gagged the Grauniad from publishing said memos as part of their tedious and deeply hypocritical moralising about perfectly legal corporate tax avoidance—good.
Let us remind ourselves that the Guardian Media Group, despite making £304 million profit last year, not only avoided paying any tax, it actually arranged its affairs such that it got an £800,000 rebate. And let's not even mention the GMG's use of a network of tax haven-based companies in order to avoid Stamp Duty in its deal with eMap... Oh, whoops!
I have to say that I am with John Band on this.
- Barclays has done nothing illegal
- Barclays hasn’t receieved any aid from the UK taxpayer.
… so this isn’t an issue.
Should Barclays request aid from the UK taxpayer at any point, its activities should, obviously, be taken into account when deciding how much of a haircut its shareholders deserve to be given. But at the moment, it’s trying to stop the UK taxpayer from making it take ‘aid’, which is kind-of the opposite…
Quite. Anyone who thinks that any company that tries to stop this disgustingly wasteful government from taking money from it unnecessarily, through the use of (say it again!) perfectly legal measures, is a fucking idiot.
And anyone who backs the Grauniad's position is not only a fucking idiot, but a stinking hypocrite—and a supporter of even bigger stinking hypocrites—and you forfeit any right to pass any kind of moral judgement whatso-fucking-ever. On anything. Ever.
UPDATE: a thought has just occurred... Do you think that those Lefties who view paying tax as a moral duty have ever stopped to think about what the government does with the money that they pay? One could argue that all these Lefties paying their taxes made it possible for the government to invade Iraq.
So, paying taxes is a moral duty that allows the government to immorally (and illegally) invade a sovereign country; but not paying tax and thus, potentially, stopping the government from invading a sovereign country is, in fact, immoral.
Is that the sound of Lefties' heads popping? I think it might be...
* Normally, I would always include the links in quoted passages but, given that that twit, Sunny Hundal, is spearheading this campaign, I am more than happy deliberately not to take part.