Boris tells Barclays: Double your money!
Mayor calls for extra cash after bank's meagre corporation tax bill
Mayor of London Boris Johnson has called for Barclays Bank to double the amount it currently pays to sponsor the capital’s cycle hire scheme.
Mr Johnson said in a BBC London Politics Show interview that he believes the bank should hand over a further £25m to match the sum it originally paid to be title-sponsor for both the hire scheme and the cycle superhighways.
When asked if he has already approached the bank for the extra cash he said: "I won't conceal it from you that I have,” adding that he "sincerely" hoped the bank would agree to the request.
He said: "And they should - let me tell you why. Because these people have received substantial sums of money from the taxpayer to keep the whole banking industry afloat."
It was revealed last month that Barclays paid just £113m in corporation tax in 2009, representing just 2.4% of its £4.6 billion global profit for that year.
The mayor said he felt a greater proportion of all banks' earnings should be invested in their local communities.