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Original poster

Tax avoider who owns a literal island wants bailing out.

28 replies

DiaDino · 21/04/2020 11:35

This Richard Branson lark has probably made me angrier than it should. It just frustrates me that so many people are at risk of losing their jobs and homes and a man who is worth 4 billion wants the Government to help keep his brand afloat.

OP posts:
Terralee · 21/04/2020 11:52

I'm angry about it too. He also owns a spaceship ffs.

KaronAVyrus · 21/04/2020 11:54

It really stinks. But I’ve long thought that you don’t become a billionaire by being a nice person.

Awwlookatmybabyspider · 21/04/2020 12:10

He owns a spaceship. Confused.
Why doesn’t he piss off in it then and not come back.

CayrolBaaaskin · 21/04/2020 12:10

Is it Xenia?

WanderingMilly · 21/04/2020 12:40

Yes, Richard Branson makes me angry too. Fancy asking to be bailed out....sell a yacht or an island or something, you've got enough assets... There are people on the breadline wondering where the next meal will come from as they've lost their jobs and bloody Branson wants a bailout..

ssd · 21/04/2020 12:42

He's not endearing himself to anyone really.
Once this is finally over will we all want to buy or use his brand?

Sallycinammonbangsthedruminthe · 21/04/2020 12:44

Horrible self serving mean man...I am appalled with him and his attitude.it stinks.

AgeLikeWine · 21/04/2020 12:48

It’s a tricky one. On the one hand, Branson is a billionaire and of course he should be using his private wealth to support his businesses through this.

The problem is that Virgin Atlantic employs many thousands of people and it is a strategically important airline because it provides real competition to BA. If Virgin went bust, BA and its partners would be left with an effective monopoly on direct transatlantic travel to & from the U.K. This would be a very bad outcome for everyone except BA/IAG shareholders.

Virgin needs to be bailed out. The question is, how?

absquatulate · 21/04/2020 12:49

By avoiding tax he has literally avoided putting money in for other people (ordinary people!) to have when awful, unpredictable things happen to their health or business or finances. It's unbelievable he feels he's owed that help now to maintain a ridiculously wealthy lifestyle, not even just food and accommodation for his family when he has taken that away from numerous others.

HappyDinosaur · 21/04/2020 12:51

I don't disagree and I'm not saying it's right, but he has now asked for a loan, with the intention of putting up his island as collateral.

absquatulate · 21/04/2020 12:59

I know he's asked for a loan and jobs will be lost if his business fails. But that's the situation for lots of people who run businesses. There should be money in the economy and in welfare if needed to mitigate these situations and he has prevented that for others. Its not just that he's wealthy it's that he's stolen from a system he now wants to benefit from. I wouldn't feel as strongly if he had paid income tax (though definitely would feel he should sell assets etc first if possible). He's not contributed to the safety net that ordinary people rely on when their businesses fail and their employees face employment etc, it's still government aid he wants whether a loan or not. How many UC payments could his avoided tax pay for over the years? He's not better than any other person struggling for government help just because he's wealthy.

notimagain · 21/04/2020 13:04

If Virgin went bust, BA and its partners would be left with an effective monopoly on direct transatlantic travel to & from the U.K

Ummm well I guess that's true if you choose to ignore American Airlines, Delta, United, Norwegian (if they survive) Air Canada.....there are probably others

hippohector · 21/04/2020 13:08

I’m not defending him either but I think he only owns a small part of Virgin now doesn’t he? They kept his name as the ‘brand’ but I’m sure Virgin Atlantic is now mostly owned by Singapore Airlines or something like that

okiedokieme · 21/04/2020 13:09

He can access the government furlough scheme for U.K. based crews just like other businesses, not sure why he should get special treatment. His personal wealth isn't the issue, it's that all businesses should be treated fairly, having a charismatic ceo should not result in extra money

MarshaBradyo · 21/04/2020 13:11

I guess that's true if you choose to ignore American Airlines, Delta, United, Norwegian (if they survive) Air Canada.....there are probably others yes many direct providers?

mbosnz · 21/04/2020 13:11

I think he's a global version of the kind of individual who has deliberately minimised their reported taxable income from their self-employment, who now faces getting far less assistance from the taxpayer as a result, what they are eligible to receive being based on what they reported. Some of those individuals did it to avoid having to pay child maintenance.

And for individuals like that, I'm afraid I have one thought, and one thought only. Serves them bloody well right.

I don't know how he can have the brass front, quite frankly.

ChateauMargaux · 21/04/2020 13:12

www.amazon.co.uk/Who-Owns-England-Green-Pleasant-ebook/dp/B07J2DDN7K/ref=sr_1_2?dchild=1&keywords=who+owns+britain&tag=mumsnetforu03-21&qid=1587471044&sr=8-2 One to read when people are stressing about whether to pay their cleaner in case they have not been declaring their income to HMRC or will be getting paid twice.

mencken · 21/04/2020 13:15

you are recommending buying a book complaining about tax avoidance with an Amazon link????

SouthWestmom · 21/04/2020 13:39

I read he'd put £250 million in (assuming as a loan) and wanted a loan against his island?

Tootletum · 21/04/2020 13:44

It's not actually his company any more so I don't think it makes sense for him to shovel money in unless he's buying the company back, and given its essentially worthless for a while, does seem a tall order. Covid isn't his fault, and his tax issues are a separate problem to his business. Not that I agree with it, but I don't actually know what his personal tax position is.

GingerPCatt · 21/04/2020 14:09

British bailouts for British taxpayers.
you don't pay in we don't pay out

BarbaraofSeville · 21/04/2020 14:18

Imagine how much money there would be thrown into the pot to help the global disaster if all the super rich donated all but their last £100 million?

They'd still be unimaginably wealthy but it would ease the burden on ordinary people the world over.

OwlInAnOakTree · 21/04/2020 14:29

I'm sure I've read he still owns 51% of the company?

Devlesko · 21/04/2020 14:33

Don't be angry or hypocrites vote with your feet.
I don't like him either, scrounging fruitcake.
But, I've never bought his services nor ever will.
waste of time complaining then sending him your monthly direct debit.

notimagain · 21/04/2020 14:54

"I guess that's true if you choose to ignore American Airlines, Delta, United, Norwegian (if they survive) Air Canada.....there are probably others" yes many direct providers?

Not sure if that's a question because of the "?"

Assuming it is - The answer is most if not all of those airlines I mentioned were operating between the London airports and North American destinations, not just direct but also non-stop, prior to the recent shut down..for example AA had a sizeable operation out of LHR, Norwegian were operating LGW-JFK.

My underlying point is that claims that if VA goes out of business ( and I hope is doesn't, I have friends working there) BA/IAG will have a monopoly on the transatlantic routes out of the UK are simply incorrect.