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Prem Sikka

@premnsikka.bsky.social
53K followers 47K following 4.6K posts

Emeritus Professor. Member, UK House of Lords. If with all your effort and might you do not reach the mountain top that is not failure; failure is that you did not even try.

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Prem Sikka @premnsikka.bsky.social · 3h
Bristol airport is controlled by Macquarie and sundry financial vampires.
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Prem Sikka @premnsikka.bsky.social · 3h
Ukraine's drones made inoperable by restrictions on the speed permitted by SpaceX's Starlink network. Musk blames Trump. Any country relying the US or foreign tech companies will be held to ransom, can't defend itself. Need own satellites and systems to fight new imperialism.
bbc.co.uk
Starlink: Musk says US government may be behind slowdown of Ukraine drone speeds
Ukraine says Starlink access has improved but it is still facing speed limits which are disrupting its battlefield "missions".
91665299
Prem Sikka @premnsikka.bsky.social · 3h
UK households paid extra £13961 on bills since 2021 amid soaring inflation Has your net income risen by the same? Income tax personal allowance frozen since 2021. Poorest 20% pay higher proportion of income in direct/indirect taxes than the richest 20%. Hitting the less well-off is normalized.
theguardian.com
UK households have paid extra £13,961 on bills since 2021 amid soaring inflation, TUC says
Trades Union Congress urges chancellor to tackle rising additional living costs in this month’s budget
14211125
Prem Sikka @premnsikka.bsky.social · 3h
Reform UK councillors and candidates filmed making graphic threats of extreme violence, expressing racist and misogynistic views. Bromley councillor calling for King Charles to be killed. That's the kind of people Reform attracts. It has normalized hatred. What would a Reform govt unleash?
theguardian.com
Reform UK councillors and candidates filmed making racist and misogynist comments
Party faces fresh crisis as three councillors quit after ITV undercover filming exposed violence, misogyny and racist views
30310150
Prem Sikka @premnsikka.bsky.social · 4h
Drop-off charges at UK airports to be reviewed after sharp rise. Rip-off charges crafted in company boardrooms, exec pay linked to profits. Public transport to airports isn't always good Review is one thing, ending predatory practices is something else.
bbc.co.uk
Airport drop-off charges to be reviewed after sharp increase
Confirming the review, the government said it was "vital to ensure travel remains accessible and that passengers are treated fairly".
1929395
Reposted by Prem Sikka
Prem Sikka @premnsikka.bsky.social · 14/10/2026
63% of voters back wealth tax for mega-rich. Wealth tax can be: Tax on accumulated wealth Higher rates on dividends & capital gains Mansion tax Investment income surcharge Cap tax relief on pension contributions by the mega rich What will Chancellor get-off his bended-knees?
mirror.co.uk
More than 60% of voters back wealth tax for mega-rich, Healey told before Budget
Polling released ahead of Chancellor John Healey's first Budget found that 63% of voters want increased taxes on people with over £10million in assets - a move campaigners believe would pay ...
50829360
Reposted by Prem Sikka
Prem Sikka @premnsikka.bsky.social · 22h
English football's finances are dangerously exposed, majority of clubs living on the edge of financial disaster. 94% of clubs are loss-making, 60%+ of EFL and National League clubs are technically insolvent. Clubs are playthings of owners, corporations. Day of reckoning approaching.
bbc.co.uk
Independent regulator report says English football finances are 'dangerously exposed'
English football's finances are "dangerously exposed, with the majority of clubs living on the edge of financial disaster", a new report says.
2316964
Reposted by Prem Sikka
Prem Sikka @premnsikka.bsky.social · 14/10/2026
Poundland could fall into administration ‘within days’, thousands of jobs at risk. It has been owned multiple times by private equity and never recovered, over £253m debt. Misleading name. Many items priced at more than a Pound. Shoppers didn't return.
independent.co.uk
Poundland could go into administration ‘within days’ risking thousands of jobs
Around 12,000 jobs at 600 stores are said to be at risk at the group that was bought for just £1 in summer of 2025
29264114
Reposted by Prem Sikka
Prem Sikka @premnsikka.bsky.social · 14/10/2026
Royal Mail losing 400 postal workers a week, says union. Fewer workers lead to more pressure on those remaining. Low morale. Parcels prioritised over letter delivery. Letter delivery targets not met even when lowered, prices hiked. Can RM survive?
bbc.co.uk
Royal Mail losing 400 postal workers a week, says union
The CWU says more posties are leaving since a new delivery system was brought in, that it claims is not working in hundreds of offices.
55328182
Reposted by Prem Sikka
Prem Sikka @premnsikka.bsky.social · 14/10/2026
UK Chancellor rejects calls to equalise capital gains and income tax rates. Could have generated £14bn a year. This perk benefits less than 1% of the people, mostly in London and South East England. Workers taxed at higher rates than the wealthy. archive.ph/cGk2B
ft.com
Healey rejects calls to equalise capital gains and income tax rates
UK proposal had been backed by senior Labour figures, triggering nervousness among entrepreneurs and investors
43554299
Prem Sikka @premnsikka.bsky.social · 22h
English football's finances are dangerously exposed, majority of clubs living on the edge of financial disaster. 94% of clubs are loss-making, 60%+ of EFL and National League clubs are technically insolvent. Clubs are playthings of owners, corporations. Day of reckoning approaching.
bbc.co.uk
Independent regulator report says English football finances are 'dangerously exposed'
English football's finances are "dangerously exposed, with the majority of clubs living on the edge of financial disaster", a new report says.
2316964
Prem Sikka @premnsikka.bsky.social · 23h
Please see this. www.gov.uk/government/s...
gov.uk
Capital Gains Tax commentary
110
Prem Sikka @premnsikka.bsky.social · 14/10/2026
Banks are usually secured creditors. Most of the private equity debt is also secured. So they get paid first. The biggest losers are workers and unsecured supply chain creditors.
121
Prem Sikka @premnsikka.bsky.social · 14/10/2026
63% of voters back wealth tax for mega-rich. Wealth tax can be: Tax on accumulated wealth Higher rates on dividends & capital gains Mansion tax Investment income surcharge Cap tax relief on pension contributions by the mega rich What will Chancellor get-off his bended-knees?
mirror.co.uk
More than 60% of voters back wealth tax for mega-rich, Healey told before Budget
Polling released ahead of Chancellor John Healey's first Budget found that 63% of voters want increased taxes on people with over £10million in assets - a move campaigners believe would pay ...
50829360
Prem Sikka @premnsikka.bsky.social · 14/10/2026
Poundland could fall into administration ‘within days’, thousands of jobs at risk. It has been owned multiple times by private equity and never recovered, over £253m debt. Misleading name. Many items priced at more than a Pound. Shoppers didn't return.
independent.co.uk
Poundland could go into administration ‘within days’ risking thousands of jobs
Around 12,000 jobs at 600 stores are said to be at risk at the group that was bought for just £1 in summer of 2025
29264114
Prem Sikka @premnsikka.bsky.social · 14/10/2026
Royal Mail losing 400 postal workers a week, says union. Fewer workers lead to more pressure on those remaining. Low morale. Parcels prioritised over letter delivery. Letter delivery targets not met even when lowered, prices hiked. Can RM survive?
bbc.co.uk
Royal Mail losing 400 postal workers a week, says union
The CWU says more posties are leaving since a new delivery system was brought in, that it claims is not working in hundreds of offices.
55328182
Prem Sikka @premnsikka.bsky.social · 14/10/2026
UK Chancellor rejects calls to equalise capital gains and income tax rates. Could have generated £14bn a year. This perk benefits less than 1% of the people, mostly in London and South East England. Workers taxed at higher rates than the wealthy. archive.ph/cGk2B
ft.com
Healey rejects calls to equalise capital gains and income tax rates
UK proposal had been backed by senior Labour figures, triggering nervousness among entrepreneurs and investors
43554299
Reposted by Prem Sikka
Prem Sikka @premnsikka.bsky.social · 13/10/2026
Private equity puts PizzaExpress, Morrisons and Itsu up for sale. All devoured and declining brands, asset-stripped. PE has no long-term commitment to any product, people or place. Chances are another PE group will see opportunity for scavenging. archive.ph/DFYPq
ft.com
Private equity puts string of UK high street names up for sale
Owners of PizzaExpress, Morrisons and Itsu seeking exits as buyout groups cool on sector
64697328
Reposted by Prem Sikka
Prem Sikka @premnsikka.bsky.social · 13/10/2026
418,986 professionally qualified accountants in the UK and the Republic of Ireland, about 28,000 in ROI. UK has the highest number of accountants per capita in the world. Dud audits, fraud, fiddles, tax abuse rife. Wasted social investment, damaging the UK economy, focus on short term returns.
frc.org.uk
Key Facts and Trends in the Accountancy Profession 2026
16300128
Reposted by Prem Sikka
Prem Sikka @premnsikka.bsky.social · 13/10/2026
Towns in England at risk of running out of water until 2027. Over one trillion litres of water a year lost to leaks. No new reservoirs since privatisation. Record customer bills. Polluted rivers. No national planning. No national grid. Crisis deepened by privatisation. archive.ph/0XI5H
inews.co.uk
The UK towns at risk of running out of water until 2027
Extreme dry conditions are set to stay through the winter, experts warn
55854432
Prem Sikka @premnsikka.bsky.social · 13/10/2026
Private equity puts PizzaExpress, Morrisons and Itsu up for sale. All devoured and declining brands, asset-stripped. PE has no long-term commitment to any product, people or place. Chances are another PE group will see opportunity for scavenging. archive.ph/DFYPq
ft.com
Private equity puts string of UK high street names up for sale
Owners of PizzaExpress, Morrisons and Itsu seeking exits as buyout groups cool on sector
64697328
Prem Sikka @premnsikka.bsky.social · 13/10/2026
418,986 professionally qualified accountants in the UK and the Republic of Ireland, about 28,000 in ROI. UK has the highest number of accountants per capita in the world. Dud audits, fraud, fiddles, tax abuse rife. Wasted social investment, damaging the UK economy, focus on short term returns.
frc.org.uk
Key Facts and Trends in the Accountancy Profession 2026
16300128
Prem Sikka @premnsikka.bsky.social · 13/10/2026
Towns in England at risk of running out of water until 2027. Over one trillion litres of water a year lost to leaks. No new reservoirs since privatisation. Record customer bills. Polluted rivers. No national planning. No national grid. Crisis deepened by privatisation. archive.ph/0XI5H
inews.co.uk
The UK towns at risk of running out of water until 2027
Extreme dry conditions are set to stay through the winter, experts warn
55854432
Reposted by Prem Sikka
Prem Sikka @premnsikka.bsky.social · 12/10/2026
UK must not be beholden to foreign AI, says head of Alan Turing Institute. UK infrastructure is owned by foreign investors/states - ports, airports, water, energy, microchips, auto, steel, computers, phones. Can't reduce UK vulnerability without abandoning neoliberalism.
theguardian.com
UK must not be beholden to foreign AI, says head of Alan Turing Institute
George Williamson says ‘national resilience’ is key focus of ATI amid US and China’s runaway leadership in field
19686282
Reposted by Prem Sikka
Prem Sikka @premnsikka.bsky.social · 12/10/2026
UK drivers forced to use parking apps can pay up to 40% more. Hidden charges, full price not shown until the payment page. Neoliberals complain about regulation but silent on daily fleecing of people by predatory capitalism. All done to boost profits, exec pay.
theguardian.com
Drivers forced to use parking apps can pay up to 40% more
Council car parks have switched away from ticket machines to cut costs, leading to extra fees for users
38586264
Prem Sikka @premnsikka.bsky.social · 12/10/2026
We could empower the people and parliamentary committees. Labour's 2017 and 2019 manifestos pledged this. Public filing of large company tax returns and related documents. Public filing of the tax returns of wealthy individuals earning more than £1 million.
general-election-2010.co.uk
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Reposted by Prem Sikka
Prem Sikka @premnsikka.bsky.social · 12/10/2026
More information on the Bureau of Investigative Journalism website. Abramovich’s inner circle presented high court with sham documents and misleading testimony Documents faked by Deloitte staff were used to help fend off a lawsuit. 👇👇👇👇
thebureauinvestigates.com
Abramovich’s team presented sham documents to London high court
Documents faked by Deloitte staff were used to help fend off a lawsuit from rival oligarch
20353233
Reposted by Prem Sikka
Prem Sikka @premnsikka.bsky.social · 12/10/2026
Deloitte in Cyprus helped in falsifying documents to hide Roman Abramovich's wealth and evade tax, Leaked documents show transactions backdated and tailored. Assets spirited away to BVI. Big four accounting firms advise UK govts, get public contracts, routinely implicated in scandals.
bbc.co.uk
Deloitte helped in falsifying documents to evade tax on Abramovich’s wealth
Backdated paperwork also made the Russian oligarch’s yachts and mansions disappear from accounts, BBC finds.
32629361
Prem Sikka @premnsikka.bsky.social · 12/10/2026
Watch the BBC programme tonight.
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Prem Sikka @premnsikka.bsky.social · 12/10/2026
More information on the Bureau of Investigative Journalism website. Abramovich’s inner circle presented high court with sham documents and misleading testimony Documents faked by Deloitte staff were used to help fend off a lawsuit. 👇👇👇👇
thebureauinvestigates.com
Abramovich’s team presented sham documents to London high court
Documents faked by Deloitte staff were used to help fend off a lawsuit from rival oligarch
20353233
Prem Sikka @premnsikka.bsky.social · 12/10/2026
Nothing, if past experience is anything to go by. They have friends in high places. Occasionally, some hapless person or an about to retire person is blamed, paid off and it is business as usual. No big accounting firm is pristine. Puny fines and feather-duster regulation has never deterred them.
031
Prem Sikka @premnsikka.bsky.social · 12/10/2026
In the era of deregulation, staffing is cut, laws are not enforced.
020
Prem Sikka @premnsikka.bsky.social · 12/10/2026
UK must not be beholden to foreign AI, says head of Alan Turing Institute. UK infrastructure is owned by foreign investors/states - ports, airports, water, energy, microchips, auto, steel, computers, phones. Can't reduce UK vulnerability without abandoning neoliberalism.
theguardian.com
UK must not be beholden to foreign AI, says head of Alan Turing Institute
George Williamson says ‘national resilience’ is key focus of ATI amid US and China’s runaway leadership in field
19686282
Prem Sikka @premnsikka.bsky.social · 12/10/2026
UK drivers forced to use parking apps can pay up to 40% more. Hidden charges, full price not shown until the payment page. Neoliberals complain about regulation but silent on daily fleecing of people by predatory capitalism. All done to boost profits, exec pay.
theguardian.com
Drivers forced to use parking apps can pay up to 40% more
Council car parks have switched away from ticket machines to cut costs, leading to extra fees for users
38586264
Prem Sikka @premnsikka.bsky.social · 12/10/2026
Deloitte in Cyprus helped in falsifying documents to hide Roman Abramovich's wealth and evade tax, Leaked documents show transactions backdated and tailored. Assets spirited away to BVI. Big four accounting firms advise UK govts, get public contracts, routinely implicated in scandals.
bbc.co.uk
Deloitte helped in falsifying documents to evade tax on Abramovich’s wealth
Backdated paperwork also made the Russian oligarch’s yachts and mansions disappear from accounts, BBC finds.
32629361
Reposted by Prem Sikka
Prem Sikka @premnsikka.bsky.social · 11/10/2026
Bank of England governor tells the UK chancellor to agree a budget that reassures financial markets. Govt told to serve markets, speculators, corporations. Healthcare, education, social justice, housing is secondary in neoliberalism. Wither democracy.
theguardian.com
Bank governor urges John Healey to use budget to allay market fears amid bond turmoil
Andrew Bailey tells chancellor ‘whatever the stance of fiscal policy, it must be credible and be seen as such by financial markets’
45485214
Reposted by Prem Sikka
Prem Sikka @premnsikka.bsky.social · 11/10/2026
If voters aren’t better off by the next election, we’re screwed’: Labour insiders voice fears over budget. What would the Chancellor do? Nationalise water/energy Levy wealth taxes Increase income tax allowance End profiteering End corporate welfare Redistribute wealth Budget is a crucial watershed
theguardian.com
‘If voters aren’t better off by the next election, we’re screwed’: Labour insiders voice fears over budget
Some say party risks ‘looking twee’ by focusing on small fixes amid growing nervousness that budget lacks ambition
52341131
Reposted by Prem Sikka
Prem Sikka @premnsikka.bsky.social · 11/10/2026
Manchester City scandal pushes BDO and UK audit regime into spotlight. Auditors can't bite the hand that feeds. They are hired, paid and fired by the entities they audit. Mustn't upset directors. There is no transparency about the conduct of an audit. archive.ph/UGnOe
ft.com
Manchester City scandal pushes BDO and UK audit regime into spotlight
Club’s connection with accounting firm is under scrutiny as Premier League findings raise questions over regulatory system
1222892
Reposted by Prem Sikka
Prem Sikka @premnsikka.bsky.social · 11/10/2026
Company behind Scotland’s biggest data centre proposal is owned by the treasurer of the UK Conservative party via British Virgin Islands. It could receive £23m public subsidy. BVI facilitates opacity and tax avoidance. Successive UK govts have defended the use of tax havens by wealthy elites.
theferret.scot
The Tory treasurer, an offshore company and Scotland’s biggest data centre plan
Scotland may be set to host one of the world’s most powerful data centres. The Conservative Party’s money man stands to benefit.
601131697
Reposted by Prem Sikka
Prem Sikka @premnsikka.bsky.social · 11/10/2026
Corporate Welfare Tory tax break for banks cost UK public purse £6bn In 2023 Tory govt cut the bank surcharge from 8% to 3%. Current govt hasn't reversed it. Record profits, exec pay, dividends at banks Reversing the surcharge would raise billions.
theguardian.com
Tory tax break for banks has cost UK public purse £6bn, says TUC
Exclusive: Chancellor urged to reverse Jeremy Hunt’s tax surcharge cuts to claw back billions in lost revenue
26801419
Prem Sikka @premnsikka.bsky.social · 11/10/2026
If voters aren’t better off by the next election, we’re screwed’: Labour insiders voice fears over budget. What would the Chancellor do? Nationalise water/energy Levy wealth taxes Increase income tax allowance End profiteering End corporate welfare Redistribute wealth Budget is a crucial watershed
theguardian.com
‘If voters aren’t better off by the next election, we’re screwed’: Labour insiders voice fears over budget
Some say party risks ‘looking twee’ by focusing on small fixes amid growing nervousness that budget lacks ambition
52341131
Prem Sikka @premnsikka.bsky.social · 11/10/2026
I advised the Work and Pensions Committee for its investigation into the Carillon collapse.
130
Prem Sikka @premnsikka.bsky.social · 11/10/2026
Bank of England governor tells the UK chancellor to agree a budget that reassures financial markets. Govt told to serve markets, speculators, corporations. Healthcare, education, social justice, housing is secondary in neoliberalism. Wither democracy.
theguardian.com
Bank governor urges John Healey to use budget to allay market fears amid bond turmoil
Andrew Bailey tells chancellor ‘whatever the stance of fiscal policy, it must be credible and be seen as such by financial markets’
45485214
Prem Sikka @premnsikka.bsky.social · 11/10/2026
If the poor funded political parties, owned the means of production, controlled media and blackmailed govts, they would have good chance of meeting ministers and changing govt policies
1125
Prem Sikka @premnsikka.bsky.social · 11/10/2026
Manchester City scandal pushes BDO and UK audit regime into spotlight. Auditors can't bite the hand that feeds. They are hired, paid and fired by the entities they audit. Mustn't upset directors. There is no transparency about the conduct of an audit. archive.ph/UGnOe
ft.com
Manchester City scandal pushes BDO and UK audit regime into spotlight
Club’s connection with accounting firm is under scrutiny as Premier League findings raise questions over regulatory system
1222892
Prem Sikka @premnsikka.bsky.social · 11/10/2026
Company behind Scotland’s biggest data centre proposal is owned by the treasurer of the UK Conservative party via British Virgin Islands. It could receive £23m public subsidy. BVI facilitates opacity and tax avoidance. Successive UK govts have defended the use of tax havens by wealthy elites.
theferret.scot
The Tory treasurer, an offshore company and Scotland’s biggest data centre plan
Scotland may be set to host one of the world’s most powerful data centres. The Conservative Party’s money man stands to benefit.
601131697
Prem Sikka @premnsikka.bsky.social · 11/10/2026
Corporate Welfare Tory tax break for banks cost UK public purse £6bn In 2023 Tory govt cut the bank surcharge from 8% to 3%. Current govt hasn't reversed it. Record profits, exec pay, dividends at banks Reversing the surcharge would raise billions.
theguardian.com
Tory tax break for banks has cost UK public purse £6bn, says TUC
Exclusive: Chancellor urged to reverse Jeremy Hunt’s tax surcharge cuts to claw back billions in lost revenue
26801419
Reposted by Prem Sikka
Prem Sikka @premnsikka.bsky.social · 10/10/2026
NHS faces exodus of ADHD and autism services staff to private clinics. Low wages have caused brain drain, loss of skilled staff. Part of privatisation of the NHS by stealth. Private sector picks up NHS contracts, profiteers, higher cost to public purse, increases NHS queues.
theguardian.com
NHS faces exodus of ADHD and autism services staff to private clinics
Brain drain of psychologists, psychiatrists and nurses leaves NHS ‘weaker’, driving patients to seek care elsewhere
39501294
Reposted by Prem Sikka
Prem Sikka @premnsikka.bsky.social · 10/10/2026
Trump announces deal to import Russian diesel. Yet he imposed tariffs on China and India for importing fuel from Russia. 3 weeks ago signed law threatening 500% tariffs on India and China. Now facing midterm election defeat ... and Utter bankruptcy of Trump foreign, economic and other policies.
bbc.co.uk
Trump announces deal for Russian diesel as Zelensky calls it a 'gift to Putin'
Ukraine's president sharply criticised the move, calling it an "investment in war that must be ended, not prolonged".
1331281587
Prem Sikka @premnsikka.bsky.social · 10/10/2026
NHS faces exodus of ADHD and autism services staff to private clinics. Low wages have caused brain drain, loss of skilled staff. Part of privatisation of the NHS by stealth. Private sector picks up NHS contracts, profiteers, higher cost to public purse, increases NHS queues.
theguardian.com
NHS faces exodus of ADHD and autism services staff to private clinics
Brain drain of psychologists, psychiatrists and nurses leaves NHS ‘weaker’, driving patients to seek care elsewhere
39501294