Banks take 'emergency measures' to aid Carillion sub-contractors

Banks take 'emergency measures' to aid Carillion sub-contractors

A spokesman said: "Any bonus payment to directors, beyond the liquidation date, have been stopped and this includes the severance payments which were being paid to some senior executives who left the company".

"So many of our public services are at risk - school meals services, hospital cleaning services, maintenance contracts, Army housing, are all at risk because of the way this company has been run".

"I think this particular situation is showing us that its time for us to have a hard look at these private contracts and bring some of that work in house again".

In responce to this announcement, Federation of Small Businesses (FSB) National Chairman Mike Cherry, said: "The emergency measures put in place by banks for customers hit by Carillion's collapse will provide some respite at a desperate time for hundreds of small firms".

Labour leader Jeremy Corbyn accused the government of negligence, saying it awarded contracts to Carillion even when it became clear the company had problems.

As a result of Carillion's collapse, Andy Bradley, managing director of landscape gardening firm Flora-Tec, has seen his company lose 15% of its turnover overnight, resulting in 10 of his staff being laid off.

Mr Roache said that his union had called on Business Secretary Greg Clark to set up a task force to help private sector companies and employees affected by Carillion's collapse.

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Mrs May attempted to absolve ministers of responsibility over the demise of Carillion by insisting the Government was the "customer" of the collapsed firm and "not the manager".

The efforts are being co-ordinated by UK Finance, a new trade association set up in July a year ago and representing around 300 firms in the UK providing credit, banking, markets and payment-related services. He told they had withdrawn the cleaner they had working full-time in a local prison.

"Fortunately for ourselves, we did actually get paid the money that was owed to us for the work that she'd done between August and November".

Carillion went into liquidation on Monday after rescue talks with its lenders and the government failed to reach a deal.

Major new hospitals in Liverpool and the West Midlands face further delays after the liquidation of the UK's second biggest construction firm.

"When there are people who are sub-contractors or small firms that are contracted into Carillion that are not getting paid, workers being made redundant at 48 hours' notice, and less in some cases, the directors, for all the bonuses they have had, should pay them back".

"Providing small businesses and the self-employed with more opportunities to secure public contracts will mean less risk and better return for the taxpayer".

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