Displaying items by tag: venture capitalists

Friday, 26 January 2018 09:54

Carillion's collapse and venture capitalists

Theresa May attacked executives who risked pension funds, and has set out a plan to defend capitalism from capitalists after the collapse of construction company Carillion plc. Pray for new laws that deal with executives who profit at the expense of workers’ pensions. Pray for an end to the culture that gives big bonuses to individuals who put short-term profit above long-term achievement. Carillion’s failure has prompted a debate about how companies are run, and about how much the Government relies on businesses to provide services. The UK spends £10.3 billion a year servicing public-private contracts of the type awarded to Carillion. Pray for politicians to come out of ‘blame game’ mode and make wise decisions which will move our government contracts and policies away from the Private Finance Initiatives (PFI) that have put millions of pounds into the pockets of venture capitalists.

Published in British Isles