Companies are separate legal entities but when they find themselves facing liquidity issues they have several options- wind up the company as it is insolvent, take on debt funding or get equity funding from its shareholders. In this instance, the government is offering no strings funding where employees can’t be paid to ensure the companies can continue. Many big companies are listed and have average joes and pension funds etc as shareholders so it makes sense not to tap them up for money. Where there are very wealthy individual significant shareholders, the argument that they should contribute equity to keep the company going becomes much stronger.
Branson wants a loan on commercial terms. Tax dodging aside, fair enough for a company of that size and significance. Taxpayers paying VB’s staff to keep her company afloat so she doesn’t have to dip into her own deep pockets, absolutely outrageous. I doubt her staff costs are that substantial that she would need to liquidate substantial assets to cover this and even if she did, tough. It’s not a significant entity and doesn’t even turn a profit.
Beckham’s knighthood slips further and further away...