Debbie Abrahams: ...The failure to provide political stability has deterred the private sector investment that we need to supercharge economic growth. Taxpayers’ money is being wasted on scandals as wide-ranging as Carillion, Greensill and personal protective equipment procurement, precisely because the seven principles of public life, commonly referred to as the Nolan principles—selflessness, honesty,...
Lord Sikka: ...money compared to one that uses retained earnings, it is somehow investing more and its assets are worth more. That simply is not true. We know a company that used such imprudent policies: Carillion. I have a slight declaration to make here in that I was an adviser to the Work and Pensions Committee for that investigation—and we know what happened to Carillion. This is where water...
Lord Sikka: To ask His Majesty's Government how much the Treasury has received in fines from KPMG for audit failures at Carillion, and what consideration they have given to using these to support Carillion employees who lost some of their pension rights.
Lord Sikka: ...to take steps to charge people for violation of the Companies Act, false accounting, lying under oath and conspiracy. After six years, they have not even yet managed to deal with the directors of Carillion. That does not inspire much confidence that they will be able to deal with the Post Office directors. The whole thing is being kicked into the next decade. Rather than hiding behind this...
Lord Sikka: ...in bank balances from others? My background is that I am an accountant and I have investigated things over the years; I helped the Work and Pensions Committee investigate the collapses of BHS and Carillion. So I hope that the Minister can enlighten me on how all this will be done. I hope that the Minister can also clarify the scope of the Bill as it applies to recipients of the state...
Lord Offord of Garvel: ...million, so, guess what, that works out at 1%, which is roughly the margin in construction. Various plans have been put forward: there was a plan for insurance, but that did not work because of the Carillion failure and Grenfell Tower, and there have been various plans such as a retention deposit scheme in escrow. We have consulted the building industry, and there is a level of support for...
Mark Pawsey: This week, the Business and Trade Committee took evidence from Wilko. Business collapses such as that of Wilko, Carillion, Thomas Cook and Patisserie Valerie have been a consequence of failures in the audit process, costing people their jobs and hurting investors and suppliers. Audit reform was recommended by the then Business, Energy and Industrial Strategy Committee in 2019, and the...
Peter Grant: ...that we get in the construction and civil engineering sectors, where the main contractor is paid on time but keeps the money for an inordinate length of time. If the main contractor then does a Carillion and goes down, all the money becomes part of its administration and very often the subcontractors get nothing. Can we have legislation, a code of practice or something to protect small...
Kim Johnson: ...democratically accountable public bodies with expertise. The hon. Member for Shrewsbury and Atcham (Daniel Kawczynski) has talked about the benefits of the private sector. I want to point out that Carillion, which was building an NHS hospital in Liverpool, went bust. This had a significant impact on the delivery of services to my constituency of Liverpool, Riverside. We must repeal the...
Emily Thornberry: ...costs incurred since January 2021 by (a) her Department and (b) the Insolvency Service in pursuing the disqualification proceedings dropped in October 2023 against five former board members of Carillion Construction Ltd.
Lord Sikka: ...House and make a statement explaining how much of the maintenance expenditure has been capitalised by water companies so far? I turn to my second example. Water companies have the same policy as Carillion, which was destroyed by it; namely, they are capitalising interest payments on their debt, which is utterly imprudent. This overstates their investments and distributable reserves, and it...
Baroness Bennett of Manor Castle: To ask His Majesty's Government whether maintaining trust in audit remains a priority for them; and, following Carillion and Patisserie Valerie’s collapse, what assessment they have made of the extent to which reducing the risk of corporate failure is a national priority.
Baroness Neville-Rolfe: ...NPPS introduced by this Government, and we have consistently demonstrated our commitment to them through measures such as the strengthening of social value policy following the collapse of Carillion and the procurement policy on carbon reduction introduced in 2021. In addition, the Public Services (Social Value) Act 2012 will continue to exist alongside the new regime established by the...
Mike Hedges: ...fault. That is why they have agreed to fund eligible works already undertaken in medium- and high-rise buildings that fall in the orphan building category. Will South Quay, built by now-defunct Carillion, be covered? I welcome that all developers that were expected to sign legally binding contracts have now done so. This represents their commitment and their intention to address fire...
Jonathan Reynolds: ...over two years since the Business Department’s final consultation on these matters closed. There is widespread agreement on the need for reform, which began following the devastating collapse of Carillion five years ago, yet the draft Bill has not even been published, despite Parliament regularly rising early due to the Government’s light agenda. Does the Secretary of State support...
Lord Aberdare: To ask His Majesty's Government when they expect the final accounts for Carillion plc to be published by the Official Receiver following its liquidation in 2018.
Kevin Hollinrake: ...—remains the same. There is no doubt that the Government absolutely believe in strong corporate governance and an effective insolvency regime. The hon. Lady rightly referred to the demise of Carillion. Years have passed since that happened, but it is very important that we do not forget the lesson learned from the impact that had on all stakeholders, including employees and small and...
Debbie Abrahams: ...the use of project bank accounts and ensuring that retention moneys are safeguarded in a separate and independent account.” Some Members will recall the collapse of the construction firm Carillion back in 2018. A local joinery business in my constituency lost £176,000 in the process. That is a lot of money for a small business. The owner Neil Skinner had been owed money by Carillion,...
Andrew Gwynne: ...the school has been described by the national media as: “Britain’s worst built school where pupils paddle in sewage and get sick from toxic fumes”. This follows a large-scale refurbishment by Carillion in 2015. Following concerns about the quality of the building work, an independent defect report commissioned by Tameside Metropolitan Borough Council was completed in August 2017 and...
Mike Hedges: ...fault of their own, have been left with homes that are unsaleable and that require substantial expenditure on remedial work. I have two in Swansea East. The first is South Quay, which was built by Carillion. Carillion no longer exists, so this proposed legislation will not benefit residents in South Quay. Carillion no longer exists, so the proposal to legislate to refund leaseholders for...