Rachel Reeves, the Chair of the Business, Energy and Industrial Strategy Committee, has stated that “no stone should be left unturned” in the inquiry into the collapse of Southport construction firm Carillion. The company went into liquidation in January 2018, leaving thousands of employees without jobs and causing significant disruption to public services.
Reeves has called for a thorough investigation into the circumstances leading up to Carillion’s collapse, including the role of the company’s directors, auditors, and regulators. She has emphasized the need to hold those responsible for the collapse to account and ensure that lessons are learned to prevent similar situations in the future.
The inquiry will also examine the government’s handling of the situation, including its awarding of contracts to Carillion despite warning signs of financial instability. Reeves has criticized the government for its failure to properly assess the risks associated with Carillion and its reliance on the company for the delivery of public services.
Reeves has pledged to work closely with the Insolvency Service, the Financial Reporting Council, and other relevant bodies to ensure a comprehensive investigation into Carillion’s collapse. She has stated that the inquiry will be “thorough, robust, and independent” in order to uncover the truth behind the company’s downfall.
The collapse of Carillion has had far-reaching consequences, affecting not only its employees but also the wider economy and public services. The inquiry will be crucial in understanding what went wrong and how to prevent similar situations from occurring in the future.
Reeves’ commitment to leaving no stone unturned in the inquiry into Carillion’s collapse is a welcome development. It is essential that those responsible for the company’s downfall are held to account and that measures are put in place to prevent similar situations from happening again. Only through a thorough and transparent investigation can justice be served and lessons be learned from this tragic episode in Southport’s history.