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Posted on 28 February 2012 at 14:34 GMT

PCS says Barclays tax could fund proper jobs for youth

The 500 million in avoided tax that Barclays bank will now have to pay could fund full-time jobs above the living wage for all the young people who have been working for free under the government 'work experience' scheme.

Divided between the 34,000 16 to 24-year-olds who have been put onto the programme, the money could pay salaries of 14,706 a year, or 8.08 an hour for a 35-hour week.

A tax loophole that allowed Barclays to avoid paying 500 million in corporation tax has been closed by HM Revenue and Customs.

PCS points out that this is a "drop in the ocean" compared to more than 120 billion in tax revenue that is avoided, evaded or uncollected every year.

Info from a PCS press release

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