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Diageo under Paul Walsh questioned over UK tax avoidance

From The Sunday Times on August 30th:

Diageo, the drinks giant whose plans to axe 900 jobs at its Kilmarnock plant and Port Dundas whisky distillery have provoked widespread condemnation, has been branded socially irresponsible by a leading business thinker.

William Hopper, author of The Puritan Gift: Reclaiming the American Dream Amidst Global Financial Chaos, said: “Diageo is a company run brilliantly by bean-counters, and the chief financial engineer is its chief executive, Paul Walsh. Unsurprisingly, there are some distasteful aspects to its activities, not least that it earns most of its profits in the UK but pays most of its taxes overseas; scarcely the behaviour of a good corporate citizen.”

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