Britain's Daily Telegraph accused of 'fraud' over HSBC saga
Daily Telegraph writer quit saying curbing coverage amounted to 'fraud on its readers'
One of Britain's most celebrated newspapers has been accused of self-censoring for commercial gain, raising awkward questions about a centuries-old press culture which has prided itself on its no-holds-barred approach to truth telling.
The 160-year-old Daily Telegraph, Britain's biggest-selling broadsheet newspaper, strongly denied accusations in a resignation letter by one of its best known writers, who said the paper had soft-pedalled coverage of the HSBC banking scandal to curry favour with the advertiser.
Britain's press is proud of its independence, able to make or break a political reputation with a merciless approach.
In his letter, Peter Oborne, the Telegraph's chief political commentator, said the paper had curbed coverage of reports that the Swiss arm of HSBC helped clients avoid taxes. The paper, he wrote, wanted to keep the bank's advertising.
"(It) amounts to a form of fraud on its readers," he wrote. "If major newspapers allow corporations to influence their content for fear of losing advertising revenue, democracy itself is in peril."
The Telegraph denied it had pulled punches in covering HSBC, saying it had "no apologies" for journalism guided by a pro-business editorial line.