Carillion creep

Is Carillion the tip of an iceberg throwing up deeper problems for our economy?

Ironically four bells didn’t sound sooner for Carillion. Banks blamed for undermining its rescue were lending money to a company building up debts of £900m and pension fund deficit of £600m. Did the pensions regulator sound any alarm bell before now?

Auditors presumably have to annually certify company accounts but do shareholders simply take dividends and company executives and directors take bonuses without questioning if the money is there to pay for them?

Tragic for the small companies which did sub-contracting work for Carillion and have not been paid, but the bigger the company, the less challenge, it seems.

Clearly government in this country operates eyes wide shut and even HM opposition didn’t ask pertinent questions until recently.

Double whammy for taxpayers when we read Royal Bank of Scotland was one of Carillion’s lenders, as we remain the Bank’s majority shareholder! JIM CRAIGEN Downie Grove

Edinburgh While I agree with John Black that it is not the role of government to bail out failed businesses, it does seem rather perverse when one considers the failed rail franchises, failed computer programmes, and myriad other failed government schemes, all of which have been bailed out with taxpayers money. DONALD CARMICHAEL Orchard Court,

East Linton