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Prem Sikka

@premnsikka

Emeritus Professor of Accounting. 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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Latest posts by Prem Sikka @premnsikka

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How democratic is the UK? The UK has a crisis of democracy

Average real wage of UK workers barely moved since 2008.

Some bosses collect 1,110 times the average worker pay.

50 families have more wealth than bottom 50% of the population combined.

Super-rich buy political parties and lawmakers to advance their interests.

Did you vote for the above?

07.03.2026 12:57 πŸ‘ 238 πŸ” 127 πŸ’¬ 11 πŸ“Œ 8
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BP’s new boss will take home at least Β£11.7m this year, more than double her predecessor Meg O’Neill will be first woman to serve as CEO of 117-year-oil firm when joining from Woodside Energy in April

BP’s new CEO to take home Β£11.7m this year, more than double her predecessor.

Daily pay > annual median pay of UK employee.

CEO pay at one company is a benchmark for another. Others will want more.

Govts, BOE, CBI and other neoliberals talk about wage inflation, but silence on fat-cattery.

07.03.2026 07:50 πŸ‘ 364 πŸ” 210 πŸ’¬ 27 πŸ“Œ 10
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How democratic is the UK? The UK has a crisis of democracy

UK democracy in action

The state unable/unwilling to provide people with clean water, timely healthcare, social care, decent housing, pension, affordable education, energy, decent roads.

Corporate profits guaranteed through PFI, privatisations, outsourcing, subsidies, regulatory inaction.

06.03.2026 09:04 πŸ‘ 318 πŸ” 160 πŸ’¬ 12 πŸ“Œ 8
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Price of first class stamps to rise to Β£1.80 Royal Mail says the increase reflects the rise in delivery costs, but the move angers consumer groups.

Privatization picking our pockets.

Another Royal Mail price hike: Form 7 April 2026 1st class postage price Β£1.80, 2nd class 91p.

When privatized in 2013 by Tory/LibDem Govt: 1st class 60p; 2nd class 50p.

RM doesn't meet letter delivery targets. Fines passed to customers. Execs get bonuses.

06.03.2026 15:27 πŸ‘ 350 πŸ” 166 πŸ’¬ 37 πŸ“Œ 10
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Emma Walmsley’s pay rose almost 50% to Β£15.6m in final year as GSK boss Bulk of 2025 renumeration came from share bonuses as drug company’s now former CEO benefitted from stock rise

GSK CEO got 50% pay rise to Β£15.6m.

Did you?

Neoliberals moan about rise in minimum wage. Govts preach pay restraint to workers. Silence on profiteering, hikes in exec pay/perks, dividends, share buybacks.

The state devoted to welfare of the super rich.

06.03.2026 08:14 πŸ‘ 283 πŸ” 149 πŸ’¬ 11 πŸ“Œ 7
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Water firms sent bailiffs to tens of thousands of homes for debts under Β£1,000 Most recorded visits are for smaller debts, data from England and Wales suggests, though method of recovery is a postcode lottery

Water firms sent bailiffs to tens of thousands of homes for debts under Β£1,000.

Exorbitant water bills. One-third covers interest & dividend payments

Companies paid over Β£85bn in dividends, borrowed billions to pay. Sewage dumped in rivers, fines waived. No bailiff ever sent. No exec punished

06.03.2026 08:00 πŸ‘ 283 πŸ” 154 πŸ’¬ 10 πŸ“Œ 9
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Damning verdict on social care as peer says system needs a 'reckoning' Baroness Louise Casey has been tasked with leading an independent probe into social care, to pave the way for the 'National Care Service' that Labour promised in its manifesto

Damning verdict on England social care as peer says system needs a 'reckoning'.

22 major reviews over 3 decades. Govts do nothing.

No integrated healthcare system. Social care privatised. Corporations profiteering. Public money buys less. Govt handing the NHS to them as well

End privatisation.

06.03.2026 07:44 πŸ‘ 290 πŸ” 136 πŸ’¬ 10 πŸ“Œ 9
Preview
Price of first class stamps to rise to Β£1.80 Royal Mail says the increase reflects the rise in delivery costs, but the move angers consumer groups.

Privatization picking our pockets.

Another Royal Mail price hike: Form 7 April 2026 1st class postage price Β£1.80, 2nd class 91p.

When privatized in 2013 by Tory/LibDem Govt: 1st class 60p; 2nd class 50p.

RM doesn't meet letter delivery targets. Fines passed to customers. Execs get bonuses.

06.03.2026 15:27 πŸ‘ 350 πŸ” 166 πŸ’¬ 37 πŸ“Œ 10
Preview
South East Water faces Β£22m fine for supply failures The firm was unable to cope during high demand, Ofwat says, leading to

Ofwat Β£22m fine proposal for South East Water for repeated supply failures.

"Proposal" = companies with criminal convictions negotiate, may never pay.

Thames Water to pay 2024 fines by 2030 or never.

2024 fines on Yorkshire and Northumbrian Water quietly waived.

Execs never fined or prosecuted.

06.03.2026 07:17 πŸ‘ 168 πŸ” 94 πŸ’¬ 19 πŸ“Œ 7

Interesting thing is that Greens won the Gorton and Denton by-election by adopting policies on which Starmer became Labour leader. Since then he has abandoned all pledges, alienated base party support and has been chasing Reform voters.

06.03.2026 11:58 πŸ‘ 34 πŸ” 5 πŸ’¬ 7 πŸ“Œ 1
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From Lloyds Bank to UK Finance, here's who's paying for the City of London Police A series of funding deals between private entities and City of London Police to help fight fraud highlights the ongoing funding pressures faced by the police force, experts have said.

One reason why the City if full of sleaze and nothing is done.

The City of London Police is funded by banks and financial institutions. Police excel at aping the three unwise monkeys. What are the employment prospects of a police officer tackling corruption but losing millions of police funding?

06.03.2026 10:53 πŸ‘ 4 πŸ” 2 πŸ’¬ 2 πŸ“Œ 1

In archaic City of London, corporations elect councillors.

Companies have votes depending on the number of employees working in the City. Corporate votes exceed human votes.

Votes are cast by corporate execs who also have a vote in place of their residence.

Multiple votes are illegal elsewhere.

06.03.2026 10:42 πŸ‘ 5 πŸ” 2 πŸ’¬ 2 πŸ“Œ 0
Preview
How democratic is the UK? The UK has a crisis of democracy

UK democracy in action

The state unable/unwilling to provide people with clean water, timely healthcare, social care, decent housing, pension, affordable education, energy, decent roads.

Corporate profits guaranteed through PFI, privatisations, outsourcing, subsidies, regulatory inaction.

06.03.2026 09:04 πŸ‘ 318 πŸ” 160 πŸ’¬ 12 πŸ“Œ 8
Preview
Emma Walmsley’s pay rose almost 50% to Β£15.6m in final year as GSK boss Bulk of 2025 renumeration came from share bonuses as drug company’s now former CEO benefitted from stock rise

GSK CEO got 50% pay rise to Β£15.6m.

Did you?

Neoliberals moan about rise in minimum wage. Govts preach pay restraint to workers. Silence on profiteering, hikes in exec pay/perks, dividends, share buybacks.

The state devoted to welfare of the super rich.

06.03.2026 08:14 πŸ‘ 283 πŸ” 149 πŸ’¬ 11 πŸ“Œ 7

Govts are subservient to corporations.

06.03.2026 08:02 πŸ‘ 0 πŸ” 0 πŸ’¬ 0 πŸ“Œ 0
Preview
Water firms sent bailiffs to tens of thousands of homes for debts under Β£1,000 Most recorded visits are for smaller debts, data from England and Wales suggests, though method of recovery is a postcode lottery

Water firms sent bailiffs to tens of thousands of homes for debts under Β£1,000.

Exorbitant water bills. One-third covers interest & dividend payments

Companies paid over Β£85bn in dividends, borrowed billions to pay. Sewage dumped in rivers, fines waived. No bailiff ever sent. No exec punished

06.03.2026 08:00 πŸ‘ 283 πŸ” 154 πŸ’¬ 10 πŸ“Œ 9
Preview
Damning verdict on social care as peer says system needs a 'reckoning' Baroness Louise Casey has been tasked with leading an independent probe into social care, to pave the way for the 'National Care Service' that Labour promised in its manifesto

Damning verdict on England social care as peer says system needs a 'reckoning'.

22 major reviews over 3 decades. Govts do nothing.

No integrated healthcare system. Social care privatised. Corporations profiteering. Public money buys less. Govt handing the NHS to them as well

End privatisation.

06.03.2026 07:44 πŸ‘ 290 πŸ” 136 πŸ’¬ 10 πŸ“Œ 9
Preview
South East Water faces Β£22m fine for supply failures The firm was unable to cope during high demand, Ofwat says, leading to

Ofwat Β£22m fine proposal for South East Water for repeated supply failures.

"Proposal" = companies with criminal convictions negotiate, may never pay.

Thames Water to pay 2024 fines by 2030 or never.

2024 fines on Yorkshire and Northumbrian Water quietly waived.

Execs never fined or prosecuted.

06.03.2026 07:17 πŸ‘ 168 πŸ” 94 πŸ’¬ 19 πŸ“Œ 7
Preview
CMA launches review of private dentistry The CMA has launched a market study into the Β£8 billion private dentistry sector to make sure it is working well for UK consumers.

Regulator investigates Β£8.4bn private dentistry UK market.

Private equity dominates the market - rip-off charges, profiteering, local monopolies.

No body voted for private equity takeover, loss of NHS dentistry.

It happens because Govts favour corporations.
www.gov.uk/government/n...

05.03.2026 08:27 πŸ‘ 286 πŸ” 160 πŸ’¬ 15 πŸ“Œ 5
Preview
How democratic is the UK? The UK has a crisis of democracy

Did you vote for this?

Wages taxed at marginal rates of 20%-45% + NIC.

Dividends taxed at rates of 8.75% to 39.35%. No NIC.

Capital gains at rates 18% to 32%. No NIC.

Poorest 20% pay higher proportion of income in taxes than the richest 20%.

Democracy and social justice... whose?

05.03.2026 08:43 πŸ‘ 316 πŸ” 170 πŸ’¬ 14 πŸ“Œ 8
Preview
South West Water admits criminal offence over Devon parasite outbreak Firm admits supplying water unfit for human consumption after nearly 150 people fell ill

South West Water admits criminal offence over Devon parasite outbreak.

Water unfit for human consumption, 150 people fell ill.

SWW already has nearly 200 criminal convictions. Licence not cancelled, no exec prosecuted, record high customer bills, sewage dumped in rivers.

Privatisation is a scam.

05.03.2026 07:23 πŸ‘ 459 πŸ” 252 πŸ’¬ 18 πŸ“Œ 7

Someone whose only income is the state pension is below the Β£12,570 income tax threshold, but for how long?

They still pay council tax, VAT, excise duties, environmental levies and other indirect taxes.

05.03.2026 12:01 πŸ‘ 1 πŸ” 0 πŸ’¬ 0 πŸ“Œ 0

Doesn't mean that there will be any real change.

05.03.2026 10:15 πŸ‘ 0 πŸ” 0 πŸ’¬ 0 πŸ“Œ 0

Please read the linked article.
Higher taxes on wages and lower taxes on return on wealth predate the current Labour govt. The poorest paying a higher proportion of income in taxes than the richest predates the current Labour govt. That said, Starmer's Labour is perpetuating the same.

05.03.2026 09:50 πŸ‘ 10 πŸ” 3 πŸ’¬ 4 πŸ“Œ 0

Millions of pensioners sucked into income tax brackets.

05.03.2026 09:10 πŸ‘ 13 πŸ” 1 πŸ’¬ 3 πŸ“Œ 0
Preview
How democratic is the UK? The UK has a crisis of democracy

Did you vote for this?

Wages taxed at marginal rates of 20%-45% + NIC.

Dividends taxed at rates of 8.75% to 39.35%. No NIC.

Capital gains at rates 18% to 32%. No NIC.

Poorest 20% pay higher proportion of income in taxes than the richest 20%.

Democracy and social justice... whose?

05.03.2026 08:43 πŸ‘ 316 πŸ” 170 πŸ’¬ 14 πŸ“Œ 8

Please see the linked article.

05.03.2026 08:36 πŸ‘ 1 πŸ” 0 πŸ’¬ 0 πŸ“Œ 0
Preview
CMA launches review of private dentistry The CMA has launched a market study into the Β£8 billion private dentistry sector to make sure it is working well for UK consumers.

Regulator investigates Β£8.4bn private dentistry UK market.

Private equity dominates the market - rip-off charges, profiteering, local monopolies.

No body voted for private equity takeover, loss of NHS dentistry.

It happens because Govts favour corporations.
www.gov.uk/government/n...

05.03.2026 08:27 πŸ‘ 286 πŸ” 160 πŸ’¬ 15 πŸ“Œ 5
Preview
South West Water admits criminal offence over Devon parasite outbreak Firm admits supplying water unfit for human consumption after nearly 150 people fell ill

South West Water admits criminal offence over Devon parasite outbreak.

Water unfit for human consumption, 150 people fell ill.

SWW already has nearly 200 criminal convictions. Licence not cancelled, no exec prosecuted, record high customer bills, sewage dumped in rivers.

Privatisation is a scam.

05.03.2026 07:23 πŸ‘ 459 πŸ” 252 πŸ’¬ 18 πŸ“Œ 7
Preview
How democratic is the UK? The UK has a crisis of democracy

Who benefits the most form the UK's current form of democracy?

Did you vote for this?

24m people live below the minimum living standard.

Unchecked profiteering – energy companies made Β£125bn profit since 2020. 120,000 people a year die in fuel poverty.

Who/What governs the UK.

04.03.2026 15:59 πŸ‘ 194 πŸ” 116 πŸ’¬ 10 πŸ“Œ 1