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Prem Nath Sikka, Baron Sikka is a British-Indian accountant and academic. He holds the position of Professor of Accounting at… more

Prem Sikka
H-index: 38
Business 56%
Economics 31%
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by Prem Sikka

premnsikka.bsky.social
Probably need a mortgage for that.
2

by Prem Sikka

premnsikka.bsky.social
Wonders of privatisation.

Royal Mail fined £21m.

Hasn't t meet the 1st and 2nd class mail delivery targets to years.

No personal fines on execs. Corporate fines will no doubt be passed on to customers.

No incentive to deliver value for money. People fleeced.
Royal Mail fined £21m by Ofcom for missing delivery targets
It is the third-largest fine the communications watchdog has ever issued.
www.bbc.co.uk
17 89 230

by Prem Sikka

by Prem Sikka

premnsikka.bsky.social
Vets should be made to publish prices, watchdog says.

Energy, water, internet, phone, train, banks, grocery companies publish prices, doesn't prevent profiteering.

Too many vets owned by corporations & private equity.

How about stopping takeovers, fines and cancelled licences for profiteering
Vets should be made to publish prices, competition watchdog says
Vet prices have risen at nearly twice the rate of inflation, the Competition and Markets Authority found.
www.bbc.co.uk
8 36 130

Reposted by Prem Sikka

by Prem Sikka — Reposted by Lesley A. Hall

premnsikka.bsky.social
Private equity takeover of US hospitals led to rise in patient deaths.

Cuts to staffing/investment; high debt, profiteering; worse patient outcomes.

More deaths in nursing homes, increased post-operative complications

Why is UK Govt handing the NHS to PE? Why no investigation of the impact of PE?
Private equity takeover of hospitals led to rise in Medicare emergency patient deaths, says study
Study found seven more deaths per 10,000 patients in private equity hospitals’ versus non-private equity hospitals
www.theguardian.com
15 190 320

by Prem Sikka

by Prem Sikka

premnsikka.bsky.social
UK banks oppose tax rise.

Falsely claim to be paying 46.4% tax rate.

The PwC generated number includes PAYE, employee national insurance which is paid by workers. VAT which is borne by customers.

it is extrapolated from a sample, can't be verified

Why do media reports not expose this sham claim?
Banks step up lobbying over threat of Reeves tax hikes
The gap between the tax burden on British banks and their international rivals is widening, even before the imposition of any further levies in next month's budget, according to a report seen by Sky N...
news.sky.com
13 120 270

by Prem Sikka

by Prem Sikka — Reposted by Prem Sikka, Nikki Fairchild

premnsikka.bsky.social
Banks make $26bn in a decade of financing deforesting companies.

Destruction of the world’s forests reached the highest level - agricultural expansion, mining, infrastructure, logging.

Profits before climate change, human lives and the planet.

The cult of deregulation will make matters worse.
Banks make $26bn in decade of financing deforesting companies
US, EU and UK banks have made over $10 billion in income since Paris Agreement by financing companies involved in deforestation, new analysis ahead of COP30 reveals
globalwitness.org
3 120 230

by Prem Sikka — Reposted by Prem Sikka

by Prem Sikka — Reposted by Prem Sikka

premnsikka.bsky.social
UK faces highest inflation in G7 this year and next, IMF warns.

Biggest cause is profiteering led by energy, water and food businesses. No govt checks it.

Real average wage stuck at 2008 level. 1% have more wealth than 70% of the population combined. Govts needs to remove cash from the rich.
UK faces highest inflation in G7 this year and next, IMF warns
According to fund’s World Economic Outlook, Britain is on course to average 3.4% this year and 2.5% in 2026
www.theguardian.com
13 190 360

by Prem Sikka — Reposted by Prem Sikka

by Prem Sikka — Reposted by Prem Sikka

premnsikka.bsky.social
New industrial robots added in China last yr, 295,000; UK 2,500.

China has 567 robots per 10,000 manufacturing workers; UK 104 .

China investing 40.4% of GDP in productive assets; UK 18.2%.

UK won't win the economic race with neoliberalism or without state intervention.
archive.ph/DuZGe
archive.ph
5 36 110

by Prem Sikka — Reposted by Prem Sikka

Reposted by Prem Sikka

Reposted by Prem Sikka

Reposted by Prem Sikka

by Prem Sikka — Reposted by Prem Sikka

premnsikka.bsky.social
Temu’s EU operations doubled pre-tax profits to $120m (£90m), employed just 8 people, $18m corporation tax,

It is smoke and mirrors of profit shifting, offshore tax havens.

UK High street can't compete.

Govt must review customs duty exemptions, require multinationals to show where they pay taxes.
China’s Temu more than doubles EU profits to nearly $120m despite having only eight staff
Online marketplace paid just $18m in corporation tax, leading campaigners to call for government action
www.theguardian.com
6 84 200

by Prem Sikka — Reposted by Prem Sikka

by Prem Sikka — Reposted by Prem Sikka

premnsikka.bsky.social
Holding govts to ransom.

Goldman Sachs warns Rachel Reeves against tax rises on banks.

Banks happy to be bailed out, take QE, mis-sell products, not to be prosecuted for frauds, hike charges, pay lousy rates on savings.

Need windfall taxes. Raise top rate of income tax.
Goldman chief delivers warning to Reeves over bank tax hikes
David Solomon urged the chancellor during a private meeting last week not to hit the industry with savage tax rises in her crucial budget statement next month, Sky News learns.
news.sky.com
33 210 520

by Prem Sikka — Reposted by Prem Sikka

by Prem Sikka — Reposted by Prem Sikka

premnsikka.bsky.social
Millions more homes in Great Britain at risk of flooding.

Some towns may need to be abandoned as homes and businesses struggle to get insurance.

Inadequate flood defences.

Yet houses being built in flood prone areas, planning deregulated

Farage/Trump deny climate change.
Towns may have to be abandoned due to floods with millions more homes in Great Britain at risk
Every constituency projected to be at greater risk, with many areas likely to be uninsurable, Guardian investigation finds
www.theguardian.com
8 77 190

by Prem Sikka — Reposted by Prem Sikka

by Prem Sikka — Reposted by Prem Sikka

premnsikka.bsky.social
Another corporate scandal.

Almost all external insulation fitted under Tory scheme needs repair or replacing.

98% of the the 23,000 homes fitted with botched external wall insulation need repairs.

Companies have vanished, people left with the problems.
Almost all external insulation fitted under Tory scheme needs repair or replacing, report finds
Homeowners who took advantage of government programmes left with cladding likely to cause damp
www.theguardian.com
10 130 220

by Prem Sikka — Reposted by Prem Sikka

by Prem Sikka — Reposted by Prem Sikka

premnsikka.bsky.social
Lloyds warns car finance scandal could cost it £2bn.

No one forced it to mis-sell financial products. Execs got bigger bonuses but won't bear any of the cost.

Lloyds promised to investigate HBOS frauds, promised a report by 2018. Still waiting. FCA does nothing.
Lloyds warns car finance scandal could cost it £2bn
The bank has set aside an additional £800m, saying the number of eligible claims is expected to be higher than previously thought.
www.bbc.co.uk
14 93 240

by Prem Sikka — Reposted by Prem Sikka

by Prem Sikka

premnsikka.bsky.social
Yes, he wanted a significant privatisation to book his place in the Thatcher hall of infamy.

British Rail was broken up and privatised with nearly 100 companies involved in running railways. Lots of duplication of admin and costs, price and subsidies rocketed for worse service.
1 1

by Prem Sikka — Reposted by Prem Sikka

premnsikka.bsky.social
UK ministers take control of £10bn Lower Thames Crossing.

Project transferred from National Highways Agency to Department for Transport i.e. one govt dept to another. Will cost increase?

The absence of due consultation will will fuel resentment/distrust. Environmental issues must be addressed.
UK ministers take control of £10bn Lower Thames Crossing
Exclusive: National Highways Agency stripped of oversight with project handed to DfT amid Labour government drive for growth
www.theguardian.com
4 23 71

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