Question to the Cabinet Office:
To ask the Minister for the Cabinet Office, whether his Department undertook any economic feasibility studies on the effects that the liquidation of Carillion would have on small businesses in their supply chain before deciding not to provide financial assistance to Carillion.
We are doing everything we can to support Carillion’s subcontractors and suppliers impacted by this collapse, but taxpayers should not, and will not, bail out a private sector company for private sector losses or allow rewards for failure.
We have also set up a taskforce to advise on the impact on small businesses and employees affected by Carillion insolvency. It will act as a means for government to communicate to those affected by Carillion’s liquidation, assess wider economic impacts and consider how to ensure that employees are provided with the right support to maximise swift re-employment.