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| Version 2 | Version 3 |
|---|---|
| Telegraph editorial 'makes no apology' over HSBC coverage | Telegraph editorial 'makes no apology' over HSBC coverage |
| (about 7 hours later) | |
| The Daily Telegraph has published an editorial saying it "makes no apology" for its coverage of the HSBC tax scandal. | The Daily Telegraph has published an editorial saying it "makes no apology" for its coverage of the HSBC tax scandal. |
| The paper's chief political commentator Peter Oborne resigned on Tuesday, saying prominence was not given to the story because of commercial interests. | The paper's chief political commentator Peter Oborne resigned on Tuesday, saying prominence was not given to the story because of commercial interests. |
| The newspaper said "no subject, no story, no person and no organisation is off-limits to our journalists". | The newspaper said "no subject, no story, no person and no organisation is off-limits to our journalists". |
| It would take "no lectures" from other news outlets, it added. | It would take "no lectures" from other news outlets, it added. |
| "This newspaper makes no apology for the way in which it has covered the HSBC group and the allegations of wrongdoing by its Swiss subsidiary," the editorial said. | "This newspaper makes no apology for the way in which it has covered the HSBC group and the allegations of wrongdoing by its Swiss subsidiary," the editorial said. |
| It said allegations that the bank helped hundreds of people evade UK tax using hidden HSBC accounts in Geneva had been "enthusiastically promoted by the BBC, the Guardian and their ideological soulmates in the Labour Party". | It said allegations that the bank helped hundreds of people evade UK tax using hidden HSBC accounts in Geneva had been "enthusiastically promoted by the BBC, the Guardian and their ideological soulmates in the Labour Party". |
| 'Proud business champions' | |
| "We have covered this matter as we do all others, according to our editorial judgment and informed by our values," the editorial said. | "We have covered this matter as we do all others, according to our editorial judgment and informed by our values," the editorial said. |
| In an age of "cheap populism and corrosive cynicism about wealth-creating businesses", the Telegraph was "proud to be the champion of British business and enterprise", it said. | |
| "We have defended British industries including the financial services industry that accounts for almost a tenth of the UK economy, sustains two million jobs and provides around one in every eight pounds the Exchequer raises in tax." | |
| But it said the paper's support for the financial services industry had never "blinded" it to the failings of the industry. | |
| It pointed to previous stories including a 2012 story about an HM Revenue and Customs investigation into HSBC offshore accounts in Jersey. | |
| Media outlets that were "sniping" about the newspaper's coverage of HSBC" were "dismissive" when the Telegraph began to reveal details of MPs' expenses claims, it said. | |
| It pointed to differences between The Daily Telegraph and its owner, Telegraph Media Group, and other media organisations. | |
| 'Fundamental principles' | |
| "Unlike the BBC, we receive no support from taxpayers. Unlike the Guardian, we are not cushioned from commercial reality by a generously-endowed charitable trust. Unlike the Times, we receive no subsidy from tabloid stablemates," it said. | |
| Restating its "fundamental principles", the newspaper said its journalists would "follow the facts without fear or favour and present the results of their work to you solely on their journalistic merits, according to their sound editorial judgment and no other consideration". | Restating its "fundamental principles", the newspaper said its journalists would "follow the facts without fear or favour and present the results of their work to you solely on their journalistic merits, according to their sound editorial judgment and no other consideration". |
| It added that it would be drawing up guidelines to define "clearly and openly how our editorial and commercial staff will co-operate". | It added that it would be drawing up guidelines to define "clearly and openly how our editorial and commercial staff will co-operate". |
| In a lengthy statement published on the OpenDemocracy website on Tuesday, Mr Oborne, who joined the Telegraph five years ago, said an assessment of the relationship between advertising and editorial at the newspaper was needed. | In a lengthy statement published on the OpenDemocracy website on Tuesday, Mr Oborne, who joined the Telegraph five years ago, said an assessment of the relationship between advertising and editorial at the newspaper was needed. |
| He said the newspaper's recent coverage of HSBC had "placed what it perceives to be the interests of a major international bank above its duty to bring the news to Telegraph readers". | He said the newspaper's recent coverage of HSBC had "placed what it perceives to be the interests of a major international bank above its duty to bring the news to Telegraph readers". |
| HSBC tax scandal in the Telegraph | HSBC tax scandal in the Telegraph |
| Source: Nexis | Source: Nexis |