Showing that Carillion is not too big to fail was a good move

Extracts from an article by Jim Armitage, city editor for the Evening Standard.

“There should be no rejoicing at the death of Carillion. The demise of a business the size of this lumbering giant sows fear and uncertainty for tens of thousands of employees, suppliers and their families.

But for all that, the Government has to be congratulated for not giving this dismally run business the bail-out from the taxpayer that some of its banks demanded.” […]

“We need a thorough explanation from the Government of what financial criteria it sets the companies from which it contracts. Much is made of the HS2 awards that were given to Carillion despite its profit warnings. But data from Tussell shows that since the first profit alert in July, it won five other major contracts from Government.”

Read the full article on the Evening Standard website.

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