Government creates Carillion task force

by Ben Pena January 19, 2018, 1:46
Government creates Carillion task force

A government task force has also been set up to "monitor and advise on mitigating the impacts of Carillion's liquidation on construction firms".

Business secretary Greg Clark is to chair the task force's first meeting.

Gareth Oakley, managing director, SME Banking at LBG, said: "We know how critical it will be for businesses within Carillion's supply chain to receive support with their cashflow, to help them through the temporary challenge to their business".

This breaking news story is being updated as more information emerges - please refresh the page for the most recent version.

Lloyds Banking Group (LBG) has unveiled a £50 million package to support its small business customers in Carillion's supply chain hit by its liquidation.

"Time is of the essence in dealing with this crisis".

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The TUC said it is pressing for the transfer of private sector contracts, including pay and pensions, to alternative providers.

The TUC also said that it wanted Carillion's public-service contracts to be brought back in-house, the Government to conduct an urgent risk assessment on other large outsourcing firms, and a moratorium to be introduced on future outsourcing.

Nationwide said in its statement there were another 1,500 staff engaged by separate, third-party suppliers who work on Nationwide contracts with Carillion.

United Kingdom banks and the Government are working closely to make sure the impact of the Carillion liquidation on SMEs in the supply chain is understood and managed in a way that best supports those in need of assistance.

"The Government must use the task force to ensure those caught up by Carillion's collapse avoid financial ruin and that mothballed sites start humming with activity again as a matter of urgency".

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