The Rich Need To Stump Up

Tycoons slammed for getting state cash for staff It’s ‘epitome of greed’ while NHS battles crisis

- Graham Hiscott

MEGA-RICH bosses have been slated for applying for taxpayer bailouts to pay staff while not chipping in more themselves.

Topshop boss Sir Philip Green is among a wave of moneybags chiefs taking advantage of the Government scheme designed to save jobs during the crisis.

Luke Hildyard, director of the High Pay Centre, said: “Taking public money to pay staff at a time when it’s desperately needed to support the NHS and other vital public services while sitting on a fortune worth millions or even billions is the epitome of greed.

“People all over the country are taking a hit to their incomes and living standards as a result of the coronavirus, but those riding out the disruption on private islands and yachts have not been affected in any meaningful way.”

George Turner, of campaign group TaxWatch, said tycoons using state money to pay staff is something “we need to swallow because there are going to be injustices”. He said the alternative could be mass job losses, but added: “There will be virus villains and virus heroes when we look back.”

A flood of firms and other organisations say they plan to use the Coronavirus Job Retention Scheme, which allows employers to reclaim 80% of staff salaries, up to £2,500 a month. For many businesses, this ability to furlough workers may mean they manage to survive the turmoil.

But among those claiming the bailouts are a host of giants accustomed to raking in massive profits.