Thread: Carillion Crisis
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Old 16-01-2018, 11:02   #22
OLD BOY
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Re: Carillion Crisis
Quote:
Originally Posted by Maggy J View Post
http://www.bbc.co.uk/news/business-42695661




It just gets worse and worse..Maybe business regulations need tightening up far more than they are at present though I suspect no one will have the will to do it. Prompt payment should be a necessary part of the schedule.
I find myself agreeing with you, Maggy. I hope the government will take this collapse as a prompt to change things that need to be changed. For example, those who do not pay up on time should be held to account, so that the company to be paid can apply immediately for enforcement of the payment, with a fine for each day the bill remained unpaid. The company not paying should face a drastic penalty if it had not done so within three months of the order, such as a compulsory winding up. Pensions should not be capable of being plundered by companies - they should be required to pay all pension payments into a government agency for safe keeping and eventual payouts. And so on.

Many of our problems could be resolved by quite simple measures which would bolster discipline and stop the abuse of the law by companies.
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