According to a recent BBC article, the bank of England plans to purchase Apple bonds. Over the past few weeks Apple has come under huge criticism for avoiding UK sales taxes by routing them through Ireland. It said that Ireland, “allowed the iPhone maker to pay almost no tax on international sales, which amounted to illegal state aid.” Once word reaches big wigs in Silicon Valley about the decision, the anger and hate for Apple will most likely intensify.
The Bank of England indicated they will buy bonds in an attempt to lower borrowing cost and encourage businesses to invest in England’s economy. Apple isn’t the only company England has on its bond buying list however. British American Tobacco, Imperial Brands and McDonald’s are among the targets as well. The Bank of England stated the following, “…the bond-buying programme was designed to influence market prices and that including the Apple bond increased its chances.”