Virgin Atlantic, requested its staff take eight weeks unpaid leave during the coronavirus pandemic. At the same time, Virgin Atlantic, in which Branson owns a majority stake, also called for a 7.5-billion-pound (€8.6-billion, $9.4-billion) bailout for the airline industry as a whole.
Majority share owner, Richard Branson has not paid personal income tax since moving to the tax-free British Virgin Islands 14 years ago. Meanwhile, dividends sent to Branson on Necker Island, his private paradise, where he lives, are not subject to any taxes.
A Conservative MP set out how easy it would be for Branson to pay his staff. Richard Fuller told the Commons that eight weeks at the 94 pounds statutory sick pay would cost 754 pounds per employee. There are 8,571 employees at Virgin Airlines, so if all of them took eight weeks' unpaid leave that would cost 6.4 million pounds.
"Sir Richard Branson's net worth is $3.8 billion. If he's able to get 2% interest on that money for eight weeks, he will earn the equivalent of 9.9 million pounds. So I say, Sir Richard Branson, give up your interest on your wealth for eight weeks and pay your employees yourself their unpaid leave."
Majority share owner, Richard Branson has not paid personal income tax since moving to the tax-free British Virgin Islands 14 years ago. Meanwhile, dividends sent to Branson on Necker Island, his private paradise, where he lives, are not subject to any taxes.
A Conservative MP set out how easy it would be for Branson to pay his staff. Richard Fuller told the Commons that eight weeks at the 94 pounds statutory sick pay would cost 754 pounds per employee. There are 8,571 employees at Virgin Airlines, so if all of them took eight weeks' unpaid leave that would cost 6.4 million pounds.
"Sir Richard Branson's net worth is $3.8 billion. If he's able to get 2% interest on that money for eight weeks, he will earn the equivalent of 9.9 million pounds. So I say, Sir Richard Branson, give up your interest on your wealth for eight weeks and pay your employees yourself their unpaid leave."
Health care campaigner John Lister, for example, has accused Branson's Virgin health care group of playing a "parasitic role in the National Health Service (NHS), fragmenting services and poaching NHS-trained staff and undermining nearby NHS trusts."
Virgin Care had been awarded 2 billion pounds worth of NHS and local authority health care deals, but paid no corporate tax in the UK as it operated at a loss. The company is controlled by Virgin Group Holdings in the British Virgin Islands.
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