I think I\’d ask Eoin to stop blogging you know. Here\’s the latest.
I have chosen to look at the profit of 8 major UK corporations. In the chart above I focus on HSBC, Vodafone and Barclays. These companies provide safe storage for your money, they loan you credit or in the case of Vodafone they sell you phone and internet access. Collectively, they made nearly £30bn profit last year but they only paid c.£1.85bn of Corporation Tax.
Double hmm. Looking at the HSBC accounts I can see that the \”tax expense\” is 486 something (page 16), but it looks to me like it\’s 4.8 billion, not the 480 million that Eoin seem to think it is. Or perhaps Eoin is thinking only of the corporation tax which is actually paid to the UK Treasury….a much smaller sum of course because HSBC is an international company and thus pays tax, as it should, in many different countries. You know, profits made in the US are taxed in the US, not UK?
But do you know why, if I were a lefty, I\’d be begging Eoin to stop blogging?
Look at those two companies at the bottom, Boots and Arcadia.
These are the two companies that UKUncut have been civil disordering about. You know, they\’re the ghastly horrible shits that dodge their due and honourable taxes and thus we should protest about them?
But from Eoin\’s figures they seem to be paying tax at 30%, just as they\’re supposed to.
I really would be having a quiet word with him behind the woodshed you know, I really would, if I were purportedly on the same side as him.