'Sell one of your two yachts!': Outrage as billionaire Sir Philip Green asks for taxpayer help to pay emergency wages to 14,500 workers he has furloughed(10 Photos)
Sir Philip Green provoked outrage today as he demanded emergency taxpayer help to pay the wages of 14,500 workers he has furloughed during the coronavirus lockdown.
Furious Twitter users suggested the disgraced businessman should sell one of his two yachts, which include the £122m Lionheart, £63.5m Lioness V and £9.3m Lionchase, or use some of his estimated £1.8billion fortune rather than relying solely on the taxpayer.
Struggling Arcadia is owned by Sir Philip's wife, Tina, whose residency in Monaco means she does not pay UK tax on profits including the £1.2bn dividend she famously banked in 2005 in one of the biggest pay checks in British history.
The taxpayer now faces a huge bill to cover wages for all Arcadia store staff of up to £2,500 per month, prompting one Twitter user to rage: 'Tell him to sell off one of his yachts. That will bring him in a bob or two. The tight-fisted chancer.'
Other household businesses that are furloughing staff include McDonalds, British Airways and Primark. It comes as the number of UK coronavirus deaths reached 2,921 as the country remains in lockdown with the economy at a standstill.
Sir Philip and his wife Tina enjoying the sun while on holiday in Monaco, where she is a resident
The enormous yacht Lionheart (seen off Italy) is the pride of Sir Philip's collection
Sir Philip owns another yacht called the Lionchase, which is seen here during an excursion
The Lioness V near Nice in France on May 22, 2016. The French city is a popular destination for the global super-rich
Twitter users today claimed Sir Philip should contribute some of his own money to paying his staff during the coronavirus outbreak
Arcadia's CEO Ian Grabiner confirmed yesterday that all 14,000 out of its 16,000 staff had been furloughed, with online operations continuing and head office staff continuing to work until April 5.
Mr Grabiner said he would not receive a salary or any benefits until further notice, adding: 'We look forward to opening our store doors again as soon as it is safe to do so and welcoming back our colleagues and customers.'
Nonetheless, Sir Philip's bid for taxpayer help sparked anger on social media today, with one Twitter user writing: 'There are brass necks and then there's Philip Green...'
Tearlach Wilson said: 'Turning out to be the same as after the financial crash where the wealthy escaped having to endure 10 years of austerity while the lesser paid suffered from it, the same less paid the country are now relying during this virus hell.'
Others pointed out that while Universal Credit applications were being refused for people with more than £16,000 in savings the same rule did not apply for billionaires like Sir Philip.
Sir Philip has three yachts, including the Lionheart (pictured) which is thought to cost around £122m
Twitter users asked 'has he tried selling his yacht?' after it emerged he was asking for taxpayer help
John Spiers said: 'Billionaire Philip Green asks government to pay 14,500 employees out of emergency wage scheme. WTF?
'Normal people are being told they can't get government support until they've 'used up their savings' ... how about he uses up his billion pounds?'
Another wrote: 'Philip Green asks for taxpayer support to prop up #Arcadia . Nah. State Benefits are means tested, right? Claimants need to spend their savings before they get anything. Sell some assets like your boat.'
And a third noted: 'People have to use up their savings before they get benefits. The mega-rich should have to use up their 'savings' before their companies receive Government help.'
Sir Philip has faced repeated calls to lose his knighthood over his involvement in a string of controversies.
Last year, a member of the House of Lords claimed the businessman had 'hundreds' of grievance claims against him, including that he grabbed women's breasts and slapped their bottoms.
The allegations were revealed by Lord Hain, who last year used the cloak of parliamentary privilege to identify the Topshop boss as the person behind a legal injunction preventing the Daily Telegraph from publishing allegations of sexual harassment and racial abuse.
The claims, which Sir Philip 'categorically and wholly denied', included allegations that the retail tycoon dragged a woman around in a headlock and smashed a male employee's mobile phone.
It was also claimed that he mocked a male employee's dreadlocks and referred to him 'throwing spears in the jungle'.
Sir Philip also faced allegations that he groped a female executive, paying her more than £1million to stay quiet.
The news comes despite some Topshop employees saying two weeks' ago that they had been laid off after all 300 stores were closed before the government announced its furloughing scheme.
Arcadia Group was experiencing financial troubles even before coronavirus hit, with the company forced to close 23 stores at a loss of hundreds of jobs.
Topshop, Burton, Dorothy Perkins and Miss Selfridge branches were among those earmarked for closure, as well as the company's Outfit, Wallis and Evans stores.
The restructure was the result of seven Company Voluntary Arrangements (CVAs) put in place by Arcadia, which are designed to keep struggling businesses from going into administration.
In a vivid illustration of the impact of coronavirus on the economy, firms including British Airways, Nissan and energy firm Ovo all announced plans to furlough workers as they try to cut costs.
They join a growing list of household names, from Greggs to Costa, McDonald's and Primark, which have already sent home 400,000 staff.
Experts at the Centre for Economics and Business Research think-tank last night predicted that as many as 6.1million private sector employees could be furloughed.
That would cost the Government £30billion if they were off work for three months or £60billion if they were off work for six months, based on estimates by the Institute for Fiscal Studies (IFS). Once the self-employed are accounted for, the cost could hit £80billion.
The IFS conceded the totals were 'uncertain', but they underline the huge cost of the Covid-19 outbreak to the country.
The furlough scheme is not expected to be up and running until the end of the month, meaning many will have to get by for weeks.
And the number of those furloughed is set to spiral in the coming weeks. The British Chambers of Commerce estimates 44 per cent of firms expect to furlough at least half of their staff, and almost a third between three-quarters and all of their workforce over the next week.
There are now growing fears the Government may have underestimated the cost of subsidising the wages of Britain's workforce, having already committed a £330billion rescue package for businesses.
The IFS's Carl Emmerson said: 'Large increases in borrowing are well advised to address this current crisis, but the consequences for the public finances will be felt long after the immediate public health emergency has hopefully passed.'
Yesterday British Airways confirmed plans to suspend more than 30,000 staff – roughly three-quarters of its workforce – until the end of May. Those furloughed include the vast majority of cabin crew, ground staff, engineers and those working at head office. Thousands of pilots have already been suspended with a 50 per cent pay cut.
Nissan also revealed the majority of the 6,000 workers at its Sunderland plant, which closed on March 17, will be furloughed for the remainder of this month, while energy firm Ovo will suspend 3,400 staff – more than a third of its workforce.
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