Sunday, 27 May, 2018

Sudden hope for Carillion's 8500 private sector staff

Carillion directors to be investigated UK business secretary seeks fast-tracked Carillion probe
Preston Stone | 19 January, 2018, 01:58

The Government said the probe will look at bosses "past and present" who received fat cat salaries while the firms shares tumbled and it racked up billions in debt.

The move came amid political anger about bumper payments to executives who had been in charge as the firm headed for the rocks.

Carillion on Monday collapsed into liquidation after struggling with huge debt and heavy losses on contracts.

He pocketed £1.5 million in salary, bonuses and pension payments during 2016 and, as part of his departure deal, Carillion agreed to keep paying him a £660,000 salary and £28,000 benefits until October.

Labour leader Jeremy Corbyn accused the government of negligence, saying it awarded contracts to Carillion even when it became clear the company had problems.

Separately on Wednesday, oil and gas services company Wood Group said Mr Howson had resigned his £35,000-a-year role as a non-executive director of the business with immediate effect.

Sheila Thomson, director of services at Perennial said: "The collapse of Carillion will affect a large number of small sub-contracted businesses, many of which were pro-actively encouraged by the government to get involved in these public sector contracts".

Ministers have been left reeling after Carillion went bust with 450 public sector contracts on its books.

Xiaomi Mi 7 Leaks With Glass Back, MWC 2018 Announcement Expected
Apart from the latest Snapdragon 845 chip, the Xiaomi Mi 7 is rumoured to be equipped with Artificial Intelligence capabilities. The Chinese tech major Xiaomi has finally confirmed that it will attend the Mobile World Congress or the MWC 2018.

The 200-year-old firm employed 20,000 workers across Britain before banks pulled the plug.

"Staff that are engaged on public sector contracts still have important work to do".

Meanwhile the Insolvency Service has also confirmed it had contacted all of Carillion's private sector service customers, such as those working in facilities and management, with over 90 per cent stating they wish to continue with current arrangements.

HMRC, offering them more time to pay tax bills and providing workers with cash support through the tax credits system.

"So many of our public services are at risk - school meals services, hospital cleaning services, maintenance contracts, Army housing, are all at risk because of the way this company has been run".

"As the ruins of Carillion lie around her, will the Prime Minister act to end this costly racket of the relationship between Government and some of these companies?"

The collapse of Carillion, the UK's second biggest construction company and a major provider of public sector projects, has caused shockwaves across the industry and has led to searching questions about the future of such public/private finance schemes.

May said a third of government contracts with Carillion were let by the previous Labour administration, adding she wants to provide "good quality public services, delivered at best value to the taxpayer".

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