NHS in meltdown

[bigfella]

Well 'the company has paid the ultimate penalty', many people have lost their jobs, the pension fund will be bailed out by the PPF i.e. the tax payer, the directors, well they sound to have enjoyed a pretty lucrative time but won't get their latest bonuses. So, yes the company has paid the price but not I feel those responsible for running it.

I'm not a huge fan of large public sector organisation either so I don't have any answers.

[Muddy Retriever]

Well 'the company has paid the ultimate penalty', many people have lost their jobs, the pension fund will be bailed out by the PPF i.e. the tax payer, the directors, well they sound to have enjoyed a pretty lucrative time but won't get their latest bonuses. So, yes the company has paid the price but not I feel those responsible for running it.

I feel sorry for the people who will lose their jobs. However I would expect most to find work with Carillion's competitors as the jobs Carillion were contracted to do still have to be completed. My biggest sympathy is for the subcontractors who won't get paid for the work they have done.

Your're wrong about the PPF, it is not taxpayer funded. It is chiefly by a levy on eligible pension schemes i.e. other defined benefit schemes.

The party is over for the directors who ran the company so badly. They are being pilloried by the media and MP's. I wonder how easily they will find similar top jobs again.

[Witton Park]

Had it been a state owned company, mistakes would just have been covered up, losses continued to accumulate and the Government would have kept throwing in more good money after bad. This is exactly what happened in this country in the 1970's with all the nationalised industries.

I appreciate that there are certain services that need to be managed by the state but to extend this to wider industry as seems to be becoming a popular view, would be total madness.

It happens now. It's called special measures.

Kings College Hospital Trust put in "Special Measures" just before Xmas.
NHS Improvement said it had agreed with the King's board earlier this year a budget deficit of £38m for 2017-18.
In late October, the body said, the trust formally worsened this prediction to £70m, and last week re-forecast an end-year deficit of £92m.
"As an organisation, King's own prediction for its deficit has worsened by £54m, and more than doubled, within months," a statement said.

Imagine a state owned Carillion going in to Special Measures?

[bigfella]

Well if I had enjoyed the benefits of robbing (ok lets be kind, underfunding) a pension scheme for years I'm not sure I would mind having more free time to enjoy my Swiss chalet.

[Muddy Retriever]

Well if I had enjoyed the benefits of robbing (ok lets be kind, underfunding) a pension scheme for years I'm not sure I would mind having more free time to enjoy my Swiss chalet.

Well perhaps but at least they have lost their jobs, which is more than usually happens to the bosses of badly performing state owned organisations.