May pledges no bailout as inquiry into company’s directors is widened

The UK government will not provide any money to stricken contractor Carillion, the Prime Minister has pledged.

Theresa May told a Cabinet meeting that “the taxpayer could not be expected to bail out a private company” as the government ordered authorities to widen the investigation into why the company has been placed into liquidation.

Mrs May told ministers that the government would be “vigilant” in ensuring that the collapse of Carillion does not harm the delivery of public services and supporting pri- 0 Greg Clark has asked for the inruiry to be fast-tracked vate companies that worked with the company. GMB general secretary Tim Roache said the “clock is ticking” for 8,500 private sector workers.

Business Secretary Greg Clark has written to the Insol- vency Service and the Official Receiver asking that the statutory investigation into the conduct of Carillion’s directors is fast-tracked and extended.

The investigation will consider whether current or previous directors of the company may have caused detriment to those owed money, including workers and businesses affected.

Mr Clark has also written to the chairman of the Financial Reporting Council, Sir Win Bischoff, and asked it to investigate Carillion’s accounts past and present, as well as its auditors. “Any evidence of misconduct will be taken very seriously,” the minister said.