The Treasury responds to our chairman’s call for stronger action against fraud
21st April 2022 | Hudson Contract
Hudson Contract featured on page one of the Yorkshire Post last month with our commentary on the government’s spring statement and the absence of new measures to counter fraud.
Our £1.8billion-turnover company manages the biggest payroll in the construction industry, ensures CIS compliance among thousands of firms in the supply chain and every year sends hundreds of millions of pounds in taxes to HM Revenue & Customs.
Founder and chairman David Jackson told the newspaper: “The chancellor said we will spend a record £83 billion on debt interest in the next financial year and yet the government is losing £29 billion to fraud every year.
“How many businesses could afford to squander such money? Many companies are operating on tight margins and if they fail to collect the income they have invoiced, they go bankrupt and the directors lose their jobs. But in this case, the taxpayer is left to pick up the bill.”
Mr Jackson added: “We have first-hand evidence of fraud not being countered by HMRC, which has been going on for years. If the government can sanction an oligarch and freeze his assets, why can’t they do it to fraudsters and their limited companies, luxury houses and Lamborghinis?”
The Yorkshire Post sought comment from HM Treasury in response to our comments. A spokesman told deputy business editor Greg Wright:
Fraud is totally unacceptable, and we’re taking action on multiple fronts to crack down on anyone who has sought to exploit our schemes and bring them to justice.
You can read the full response here.
Lord Agnew, who resigned in January as the minister responsible for efficiency, has claimed the Treasury appears to have no knowledge of, or little interest in, the consequences of fraud to our economy or society.
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