The government has been slammed for its failure to take action following the collapse of Carillion last year.

UK construction union, Unite has hit out at the government, warning that the inaction is putting jobs at risk and could result in future corporate meltdowns.

Carillion went into compulsory liquidation on 15 January 2018, leaving 3,000 redundant and forcing many if its sub contractors out of business.

The cost to the taxpayer for Carillion's collapse is well in excess of £150 million, much of this money has been paid to accountants PwC, who have been paid in excess of £50 million to act as 'special managers' to break up the company, make workers redundant and transfer outsourced contracts to new providers.

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The cost to the taxpayer for making Carillion staff redundant is estimated to be £65 million.

The contractor's two flagship construction projects, the Royal Liverpool hospital and the Midland Metropolitan hospital in Sandwell, were also stopped and have since rocketed in cost.

Unite assistant general secretary Gail Cartmail: "It is staggering that a year after the biggest corporate failure in modern UK history the government has carried on as though it is business as normal.

"The government's failure to take action to ensure that there cannot be similar collapses in the future is a betrayal of workers, who still face being cast on the scrapheap without warning because of irresponsible directors who place profits and shareholder dividends before people.

"The fact that no one involved in Carillion has yet had any form of action taken against them, demonstrates either that the regulators are failing to do their jobs or that existing laws are too weak. If it is the latter then we need better stronger laws.

"Taxpayers were handed a bill of over £150 million to clean up the mess left by Carillion, yet the government has failed to end bandit capitalism in the UK.

"A year on from Carillion's collapse the government needs to stop prevaricating and start taking effective action to drive bandit capitalism out of the UK."

(CM/MH)