The Telegraph editorial: Newspaper will make 'no apology' over HSBC scandal coverage

Newspaper releases defiant editorial after Peter Oborne allegations

The editorial published on Thursday

The Telegraph is refusing to apologise for its coverage of the HSBC scandal.

The newspapers said it makes “no apology” for its coverage of allegations that banking giant HSBC promoted tax avoidance schemes in an editorial published on Thursday.

The newspaper said it had reported the matter according to its "editorial judgement and informed by our values".

The editorial comes after its former chief political commentator Peter Oborne accused the paper of failing to cover the scandal in a blog post, where he also claimed his bosses had removed pieces critical of China.

It said: “Our support for Britain's financial services has never blinded us to the failings of the industry.

“In 2012, we revealed that HSBC was at the centre of a major HM Revenue and Customs investigation after it opened offshore accounts in Jersey for criminals living in this country.”

It noted that other media outlets “showed remarkably little interest” in this story at the time.

“No subject, no story, no person and no organisation is off-limits to our journalists. They will 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.

The article also warned that it would take “no lectures on journalism” from rival media outlets.

It concluded: “We are proud to do that which our critics cannot or will not do: to combine journalistic excellence with commercial success.”

Additional reporting by PA