Thelma Walker
Main Page: Thelma Walker (Labour - Colne Valley)Department Debates - View all Thelma Walker's debates with the Cabinet Office
(6 years, 9 months ago)
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Oliver Dowden
Yes, my hon. Friend is precisely right. As I said, it would have been helpful if Carillion had considered these actions; perhaps then it would not have got into this position. Members cannot say that somehow the Government are bankrolling these companies, while simultaneously saying that we are allowing the companies to go bust if things go wrong with them and shareholders pay the price. They cannot make those two propositions at once.
Thelma Walker (Colne Valley) (Lab)
Does the Minister agree that, with Carillion and now Capita, the outsourcing of our services has failed? Instead of expensive bail-outs, they should be brought back into public ownership.
Oliver Dowden
The Government have not bailed out a single supplier. It is the shareholders who have paid the price. It is the shareholders of Carillion who will not receive back the money they invested—or, at least, they will receive a very small proportion of the money, depending on the outcome of the liquidation. The hon. Lady’s characterisation of the situation is simply not correct.