Poundland

Lord Sikka Excerpts

Wednesday 4th November 2026 Lords Chamber

[Lord Leong (Lab)]

My Lords, I have I spent my working life building businesses and I support all forms of capital to help businesses to grow in scale. I recognise that there have been questions about Poundland, but our immediate priority is to establish the facts and support Poundland’s workforce. If incidents and wider questions such as the noble Baroness says do emerge from this case, of course we will consider them carefully.

[Lord Sikka (Lab)]

My Lords, private equity has devoured town centres for years. Can I urge the Government to do two things? First, can they abolish the tax relief on interest payments for corporations—a process begun with the Finance Act 2017 by the party opposite. Secondly, can they appoint worker-elected directors on the boards of large companies? If the Minister finds these suggestions too radical, can he make his own?

[Lord Leong (Lab)]

I always find my noble friend’s questions, which are sometimes very challenging questions, quite interesting. On his point about interest, the Government’s position stays as it is. Regarding directors on boards, we can have ongoing conversations, but there are no immediate plans for this.