Carillion collapse regrettable, but government cannot bail it out - PM May's spokesman

Image
Reuters LONDON
Last Updated : Jan 15 2018 | 5:35 PM IST

LONDON (Reuters) - The British government cannot be expected to bail out construction and services firm Carillion, Prime Minister Theresa May's spokesman said on Monday, after the firm's collapse.

"It's regrettable that Carillion has not been able to find suitable financing options with its lenders, but tax payers cannot be expected to bailout a private sector company. Since the profit warnings were first issued in July the government has been closely monitoring the situation ... we remained hopeful that a solution could be found while putting robust contingency plans in place, " he told reporters.

"Our primary responsibility as always (was) being able to keep our essential public services running safely."

(Reporting Elizabeth Piper, editing by William James)

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Jan 15 2018 | 5:19 PM IST

Next Story