McDonald’s received £872 million in UK Covid-19 subsidies and tax breaks in 2020
War in Want is a charity not afraid to attack the structures that give rise to the unfair world we live in. It’s not only the £872m. A new WoW video explains how in the height of the Covid-19 pandemic, McDonald’s was using a circular paper transaction to create a London tax shelter, that will deprive UK public funds of £295 million in tax over ten years.
War on Want say: “We must raise the pressure on corporate tax dodgers and demand that HMRC investigates McDonald’s.
“Despite fully closing stores during the first UK lockdown, by the end of 2021, McDonald’s UK sales had grown by over 10% compared with 2019. War on Want estimates that McDonald’s received £872 million in UK Covid-19 subsidies and tax breaks in 2020 – a year that the burger giant paid out a record £2.9 billion to its shareholders. As McDonald’s workers were paid poverty wages to work through UK lockdowns, breaking new sales records, McDonald’s saw the pandemic as an opportunity to increase its market share.
“McDonald’s tax dodging and the massive public subsidies – received whilst its workers toiled on poverty wages – is a clear example of how the pandemic has accelerated inequality across the world. Now, UK politicians want to raise taxes on working people rather than cracking down on corporate tax dodging.
“We must take action together and demand that the UK government’s tax authority, HMRC, investigates McDonald’s.