Join the Socialist Party Join us today!

Printable version Printable version

Facebook   Twitter

Link to this page: https://secure.socialistparty.org.uk/issue/999/27478

From The Socialist newspaper, 13 June 2018

City vultures make millions from Carillion chaos

Workers left unemployed and NHS projects on hold

Carillion, photo Elliott Brown/CC

Carillion, photo Elliott Brown/CC   (Click to enlarge)

Caroline Vincent, Leicester Socialist Party

The collapse of the building giant Carillion may have caused chaos, but it hasn't been bad for everyone involved. It transpires that some are set to benefit from the company's liquidation. Accountancy firms and lawyers will be making a killing, raking in some 70 million in fees. And who's footing the bill for the disaster? Taxpayers, that's who, to the tune of an eyewatering 150 million.

Despite this there are projects that have ground to a halt. Disgracefully, in the middle of the ongoing NHS crisis, construction of Royal Liverpool University and Birmingham's Midland Metropolitan hospitals are on hold.

Accountancy firm PricewaterhouseCoopers (PwC) has already earned 17 million in fees for advising Carillion over the past decade. Given the outcome you could hardly say that this was money well spent! Yet having advised the company to the point of failure, PwC is now expected to earn a further 50 million for managing the insolvency. Another 20 million of the costs will be pocketed by lawyers.

Carillion's senior bosses have emerged unscathed, managing to hang onto their huge bonuses. It's a different story for the 2,332 workers who have been made redundant. And there are 3,000 staff still working for the remnants of the company whose jobs are hanging in the balance.

All of this highlights the problems that arise through privatisation and outsourcing, and the need to fight for nationalisation and democratic socialist planning of the economy.

The Carillion fiasco has been described as "disaster capitalism". It's certainly not been a disaster for the companies who've been able to turn the misery and insecurity of workers into a quick buck. For ordinary people who struggle to make ends meet on a daily basis, the profit-driven system can't be described as anything other than disastrous.

Why not click here to join the Socialist Party, or click here to donate to the Socialist Party.


In The Socialist 13 June 2018:


Grenfell Tower

Grenfell: still waiting for justice


PCS union

Civil service pay strike ballot: vote yes! Smash the cap!

PCS members in DWP say: Pay up now!


Fighting sexism

How can we fight for trade unions that fight for women?


Socialist Party news and analysis

Five reasons to walk out on 13 July

City vultures make millions from Carillion chaos

Retail crunch: more giants on their knees - nationalise them now

Pay rises of 283% needed for most to afford London homes

Them & us


Workplace news and analysis

Health unions accept divisive NHS pay deal

NHS workers plan coordinated strikes across West Yorks against outsourcing

4,000 Rolls-Royce jobs at risk

Transport for London to lose central grant: bus workers must prep for action

Housing strike against individualised pay enters week two

Vote Mike Rolfe for Napo general secretary


International socialist news and analysis

Venezuela: Neither the capitalists nor regime can solve the crisis

Eyewitness report from Gaza: "Razan was killed in front of my eyes"


Socialist Party campaigns

Build an anti-racist workers' movement

Help to sell the Socialist

Don't delay, buy issue 1000 today

Sheffield Labour council "happy" to jail trees protesters

In the words of Amber Rudd, "no one died at Orgreave"


 

Home   |   The Socialist 13 June 2018   |   Join the Socialist Party

Subscribe   |   Donate   |   Audio  |   PDF  |   ebook






Related links:

Carillion:

triangleWeak Tories must go. General election now!

triangleInterserve debts

triangleTories ensured Carillion meltdown went unchecked

triangleThe murky world of the 'Big Four' accountancy firms

triangleKeep Middlesbrough hospital staff in the NHS

Workers:

triangleFight back against the retail bosses!

trianglePro-democracy protests continue to rage in Hong Kong

triangleThe Peterloo Massacre 1819: When a fearful ruling class tried to crush working-class political aspirations

triangleDundee: young workers fight for unions and discuss Marx

NHS:

triangleTV: Young, British and Depressed - "What is wrong with our society that all these people are feeling this way?"

triangleBradford: All-out action to defeat backdoor NHS privatisation

triangleTory bribes don't hide destruction of NHS

Construction:

triangleSocialist Party member Janet Gibson advertising NSSN conference at a protest of steel construction workers outside a Siemans factory in Lincoln (click for report)

triangleTen years since Lindsey strike: when militant action stopped the 'race to the bottom'

News and socialist analysis

News and socialist analysis

14/8/19

General election

General election looms... Capitalists in chaos: fight for socialism

14/8/19

NHS

Tory bribes don't hide destruction of NHS

14/8/19

General election

Boot out Boris and all the Tory toffs - fight for socialist policies for the 99% not the 0.1%

31/7/19

Climate change

Tories look in wrong place for climate solutions

31/7/19

Tories

Build a working-class movement to force an election

31/7/19

Universal Credit

Fighting Universal Credit

31/7/19

Liberal Democrats

Lib Dems: little bosses' party elects eager pro-austerity leader

31/7/19

Council

Labour promises to end council privatisation: councils must do that now!

31/7/19

CWI

CWI refounded with determination and confidence

30/7/19

Brexit

Boris, Brexit and British capitalism

21/7/19

CWI

Socialist Party conference reaffirms the CWI's historic approach

17/7/19

General election

Stop Boris - General election now

17/7/19

Them & Us

Them & Us

17/7/19

Universal Credit

Fraudsters thrive and claimants suffer in despicable Universal Credit scam

12/7/19

Labour

The landowning establishment

triangleMore News and socialist analysis articles...


Join the Socialist Party
Subscribe to Socialist Party publications
Donate to the Socialist Party
Socialist Party Facebook page
Socialist Party on Twitter
Visit us on Youtube

LATEST POSTS

CONTACT US

Phone our national office on 020 8988 8777

Email: info@socialistparty.org.uk

Locate your nearest Socialist Party branch Text your name and postcode to 07761 818 206

Regional Socialist Party organisers:

Eastern: 0798 202 1969

East Mids: 0773 797 8057

London: 020 8988 8786

North East: 0784 114 4890

North West 07954 376 096

South East: 020 8988 8777

South West: 07759 796 478

Southern: 07833 681910

Wales: 07935 391 947

West Mids: 02476 555 620

Yorkshire: 0114 264 6551

ABOUT US

ARCHIVE

Alphabetical listing


August 2019

July 2019

June 2019

May 2019

April 2019

March 2019

February 2019

January 2019

2018

2017

2016

2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

2005

2004

2003

2002

2001

2000

1999