Government Paying Millions to Keep Carillion Projects Alive

Wednesday, January 24, 2018

There are hundreds of public sector contracts still running that had been assigned to Carillion, and with the failure of the company, the government has been forced to step in and pay out Treasury funds to keep the public sector work going. The projects are going to cost millions of pounds per day in temporary funding.

The failed company held 450 contracts with the government in the UK, representing 38 percent of its annual revenue according to the company’s last accounts. Assuming the contracts were not making a loss, this means that the government will need to fund almost £2 billion in annual revenues, on a temporary basis. This amounts to £5.4 million per day.

The government is already paying for the increased costs of the Official...

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