"Can I help the Minister on how to collect a lot more in tax revenues by attacking the anomalies? By taxing capital gains and dividends at the same rate as wages, and by charging national insurance at the same rate, the Government could collect around £15 billion a year. Another …..." Lord Sikka - View Speech
"My Lords, the secrecy afforded to small companies has incubated financial crime. Just last month, HMRC said that 40% of corporation tax due from small businesses is not being paid. Numerous money laundering, sanctions-busting and employment scams are fronted by small companies; therefore, we need far more information publicly filed …..." Lord Sikka - View Speech
"To ask His Majesty’s Government what plans they have for implementing, modifying, or repealing any part of the Economic Crime and Corporate Transparency Act 2023 dealing with the filing of the annual accounts by small companies at Companies House...." Lord Sikka - View Speech
"My Lords, between 2010 and 2024, HMRC failed to collect around £500 billion of tax. I therefore welcome the additional investment, but I am really concerned about the trajectory. Page 95 of the spending review shows that the HMRC budget for 2025-26 is to be £6.8 billion, rising to £7.3 …..." Lord Sikka - View Speech
"My Lords, in September 2020, the Government issued an order to English schools that:
“Schools should not under any circumstances use resources produced by organisations”
which have expressed a desire to end capitalism. As a result, students cannot easily study the history of the working class, trade unions and …..." Lord Sikka - View Speech
"My Lords, I am really concerned about the legislation in front of us, because it seeks to extend subsidies to highly profitable corporations, at least until 2031. Inevitably, the major beneficiary is Drax, which is the UK’s single largest emitter of CO2. In 2023, its electricity-generating operations generated …..." Lord Sikka - View Speech
"My Lords, as there is a lull, I might take an opportunity to ask the Minister a question. The Department for Work and Pensions has stated that, as a result of the planned benefit cuts, an extra 50,000 UK children will be pushed into poverty. Can the Minister explain why …..." Lord Sikka - View Speech
"My Lords, on 15 June 2017, the Metropolitan Police began a criminal investigation into the Grenfell fire. Can the Minister tell the House how many individuals and corporations have been charged and prosecuted in the past eight years?..." Lord Sikka - View Speech
"My Lords, good laws should consider unexpected negative consequences and eliminate them before any legislation is implemented. One consequence of the Bill could be that it might increase homelessness and financial exclusion. This arises because DWP’s powers of surveillance apply to bank accounts to which benefits are paid even though …..." Lord Sikka - View Speech