Crisis all its own making

CARILLION’S collapse is entirely of its own making.

It bagged big building projects by undercutting rivals with low-ball bids and paid the price as costs soared.

And it had precious few valuable assets to fall back on as debts rocketed.

Carillion boasted that it increased dividends to shareholders in each of the 16 years since it was formed.

Those investors, plus banks, suppliers and the taxpayer, are left counting the cost – not bungling bosses who caused this mess in the first place.