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Urgent Reform Needed Following Carillion

Tuesday, February 6, 2018

 

GMB CALLS FOR URGENT REFORM IN LIGHT OF DAMNING CARILLION EVIDENCE

It is morally wrong that lining the pockets of shareholders comes ahead of honouring the promises made to workers’ pensions and their hard earned security in retirement  says GMB.

GMB, Britain's general union, has called for urgent reform in the wake of damming new evidence over how Carillion handled its pension schemes.

Ahead of today’s evidence from Carillion’s former directors, the Work and Pensions and BEIS Committees have published evidence of the board’s apparent long-term indifference towards its pension obligations and a series of warning signs about the company’s position. [1]

Tim Roache, GMB General Secretary, said:

“This is damning evidence that despite all the flashing red dashboard lights the interests of Carillion workers’ pensions were the last thing on directors’ minds.

"It is morally wrong that lining the pockets of shareholders comes ahead of honouring the promises made to workers’ pensions and their hard earned security in retirement.

"We need an urgent national debate on how best to reform the law to prevent city spivs from neglecting their duty to their workers.

"Carillion staff - as well as the public at large - now look certain to pay the price for the company's recklessness."

ENDS

Contact: GMB Press Office on 07958 156846 or at press.office@gmb.org.uk

Notes to editors:

[1] https://www.parliament.uk/business/committees/committees-a-z/commons-select/work-and-pensions-committee/news-parliament-2017/carillion-evidence-publication-17-19/
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