15th January 2018

The true magnitude of the Carillion collapse begins to emerge. Among new facts published today:

  • mere months before the profit warnings were made, the directors changed the rules so that their multi-million pound bonuses were protected – but the pension funds were not.
  • after the company began to slide in 2016 the Conservative Government continued to award parts of a £1.1 billion contract to the crippled company
  • the senior director of Carillion, Philip Green, was a business adviser to both David Cameron and Theresa May. Interestingly, another Philip Green (the CEO of imploding BHS) was also a business advisor to the Conservative Government. Both escaped the collapse of their respective businesses with tens of millions of profit, leaving behind hundreds of millions of debt.

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