JUST A THOUGHT - ON CARILLIONS BEING ALLOWED TO DIE, AND THE RESPONSIBILITY OF GOVERNMENTS. PART 3.

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Steps which would or should have ensured that the company avoided getting into its current predicament. Through the application of appropriate regulations and laws on how it conducts its business.

But it is totally unforgivable when a government minister, representing it, glibly makes statements declaring that 'tax-payers' money' will not be used to help bail out Carillion. 

A statement which can only provide further confirmation that Carillion should be allowed to die.  

By telling the country and the world that the government would be keeping its hands folded behind its back.  

And would be doing nothing effective to help to rescue the company and/or the jobs, livelihoods and economic interests dependent on its survival.

It would appear that the reasons for Carillion finding itself in the financial and insolvency mess that it has collapsed into, are very complex. 

Some of its problems might not be uncommon ones in the construction industry, which means that other construction firms could probably have had them as well. 

An indication of the high level of risk of losses in the some parts of the industry. 

This suggests that some  of the problems, because of their systemic nature, might require more stringent regulating of the industry.  

So as to reduce the risk of individual companies overstretching themselves and taking on more work than they can properly manage and complete. 

 A situation which brings to mind the financial crisis which brought the banks, or many of them, to their knees in 2008 financial and economic crisis.

It might also mean more partnerships between governments and the private sector, as the latter cannot and probably should not be expected to carry all the risks of increased construction cost. 

 To be continued!





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