Boris tells Barclays: Double your money!

Mayor calls for extra cash after bank's meagre corporation tax bill

by Mark Appleton   March 2, 2011  

boris.jpg

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.

4 user comments

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Sorry isn't he a Tory? - sounds more like a socialist of some kind (to a degree anyway). Surprise

bikeandy61's picture

posted by bikeandy61 [389 posts]
2nd March 2011 - 14:29

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It's still not the billionish they should be paying (corp tax is 20%ish isn't it?) but it would be a start.

posted by a.jumper [694 posts]
2nd March 2011 - 14:41

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Perhaps Boris should have asked for more in the first place.

Suggestions on new names

Boris, I was Blue

Boris the Red

Red Boris

posted by jimc101 [58 posts]
2nd March 2011 - 15:06

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Barclays probably won't stump up the extra cash because everyone calls them "Boris Bikes" instead of "Barclays Cycle Hire Scheme" bikes. If so, this could be the point where at least this one Tory Boy realises that Victorian-style charity isn't a sustainable way to run public services.

posted by handlebarcam [527 posts]
2nd March 2011 - 22:21

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