Carillion Debate

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Department: Cabinet Office
Monday 15th January 2018

(6 years, 10 months ago)

Commons Chamber
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David Lidington Portrait Mr Lidington
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The Insolvency Service or the official receiver will have to look at each of the 14 pension schemes forming part of the Carillion Group and assess their solvency and that of the companies with which they are associated. The backstop in all this is that the Pension Protection Fund will guarantee that pensions now in payment will continue to be paid at 100% of their value.

Paul Flynn Portrait Paul Flynn (Newport West) (Lab)
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Do not the strong condemnation by both the National Audit Office and the Public Accounts Committee of the Government’s decision to do a deal with EDF, a company that is €38 billion in debt, plus the Government’s failure to see the warning signs in this case mean that the Government are earning a well-deserved reputation for financial incompetence?

David Lidington Portrait Mr Lidington
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As I said earlier, roughly one third of the Carillion contracts currently in force were awarded by this Government, and another third were awarded by Governments supported by the hon. Gentleman.