U2 FRONTMAN Bono lauded capitalism in front of an audience of billionaires at the World Economic Forum in Davos today, saying that the exploitative system was not “immoral” and needed their instruction.

The tax-dodging hypocrite, who poses as a social activist, claimed: “Capitalism has taken more people out of poverty than any other ‘ism.’ But it is a wild beast that, if not tamed, can chew up a lot of people along the way.”

Speaking on a panel with International Monetary Fund president Christine Lagarde, he was discussing how to plug a multitrillion-dollar funding shortfall in the United Nations push to eradicate global poverty by 2030.

Bono, who allegedly flew his favourite hat by chartered plane from Dublin to Rome in 2006, was named in the Paradise Papers, which mentioned his involvement with a company which invested in the Lithuanian developer of a shopping centre in the small town of Utena.

It is alleged that profits from the venture were incorrectly booked, meaning that, if the accusation is accurate, he evaded taxes.

He was criticised in 2006 after U2 moved their tax affairs from Ireland to the Netherlands when the government introduced a €225,000 cap on its tax-free exemption for royalties.

Protesters branded him a “tax rogue that harms the world’s poorest people.”