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‘Taxpayers can’t bail out private companies’: Government defends handling of Carillion collapse as Labour calls for ‘serious investigation’

Britain's Secretary of State for Transport Chris Grayling leaves 10 Downing Street, London, November 22, 2017.

  • The government’s handling of the collapse of construction firm Carillion has been criticised.
  • Carillion has around 450 public contracts but the government wouldn’t step in to back the company’s £1.5 billion debt pile.
  • Transport Secretary Chris Grayling handed Carillion part of a £1.4 billion HS2 contract last summer in the same week as its debt crisis began. This has led to criticism of his judgement.
  • “Normal tendering processes were followed,” PM’s spokesman said. “Taxpayers cannot be expected to bail out a private company.”

LONDON — The government has defended its handling of the collapse of UK construction giant Carillion, insisting that read more >>>

Source:: BusinessInsider.Com