Barclays paid tiny tax for big profits

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Barclays paid tiny tax for big profits

Post by Strawberry on Sat Feb 19, 2011 6:26 am

The London-based Barclays appears to have cheated the British government as it has paid only £113 million in corporation tax for a global profit of more than £5 billion.

This comes as the bank has granted £1.5 billion in cash bonuses along with another £1.2 billion in longer-term rewards to its personnel. ...

... "This revelation underlines the Government's failure to take the robust action needed to make sure that the banks which caused the crash pay their fair share, and will stick in the stomachs of small businesses struggling to borrow and ordinary people feeling the pinch of the Government's austerity measures," said Umunna.

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