Tag Archives: Virgin Atlantic

Branson wants a bailout for Virgin Atlantic. Does he pay his taxes? If not – let it collapse

Richard Branson.

It’s very simple: if Richard Branson, his top executives, and his company have all paid the full whack of taxes applicable to them – since the company was formed – then a government bailout may be considered.

Otherwise, let it all collapse. And Virgin Atlantic used to be my airline of preference.

The bribes Branson is offering are fantastic: he’ll put his private Caribbean island up as collateral, which implies he wants us all to think of the bailout as a loan.

Great! If he defaults on payments, can we – the great British public – take free holidays there after the lockdown is over, using Virgin planes to reach it?

That would be pleasant but I have a doubt that the Tory government would allow it. We’re plebs and livestock, after all.

And he said he was investing £215 million of his own money. Also great! But he’s asking for more than twice as much. And how much money is he keeping?

The simple fact is: Denmark and Poland have the right idea.

If corporations and shareholders pay their full taxes, then it is fair for a government to consider using its scheme to bail them out.

If not, then it doesn’t matter how hard they plead, the answer must still be no.

If you’re not paying in, you can’t expect to draw out.

Source: Richard Branson warns Virgin Atlantic will collapse without Government support as he defends himself over bailout backlash | London Evening Standard

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