Barclays pays out bonus for our youth

You've got to hand it to Barclays. Fresh from revelations that it managed to pay only 1% of its pre-tax profits in corporation tax, and stories that its chief exec is in line for a £9m bonus, we hear the banking colossus is about to launch the next phase of Barclays Money Skills - its "national financial capabilty programme which aims to build the financial skills, knowledge and confidence of young people across the UK".

It will be unveiling "three exciting new projects" for the programme at a 2nd March event to be attended by Frances Maude, the Cabinet Office minister (and former Morgan Stanley MD don't you know).

Barclays has demonstrated plenty of money skills of late and it's damn tough to think of a better placed firm to back such an initiative. But we have to hope the financial capabilities with which it wants to arm the country's youth don't stretch to legal tax avoidance.

Actually, it sounds like the skills are being delivered by a clutch of youth charities. But it's so nice of Barclays to fund the programme, don't you think - and to be so willing to publicise the fact. Very socially responsible. Like paying your fair share of tax in fact.