"It requires huge investment to build and maintain our network, which is relied upon by businesses and consumers up and down the country and we have invested heavily in the UK over the last few years, spending more than £1 billion on our network and services last year. As a result of that investment and the very competitive market, we make minimal profits (£41 million) in the UK. As the Government wants to promote investment in essential infrastructure like ours, the UK tax rules mean that reliefs for our investment are set against the profits we make. In addition the Government understands that we have to borrow huge sums of money to be able to invest for the long term, so they allow us to take the interest we pay on those borrowings off our profit too. Corporation tax is then paid on any balance – this is the same rule that applies to all UK companies large and small.”