Unite has launched a campaign to tackle bandit capitalism and stop Carillion-style collapses.
Unite is fighting to ensure that the untold human misery of being dumped out of work without warning caused by such collapses is tackled once and for all.
As part of the campaign Unite has produced the Ending bandit capitalism: learning the lessons following Carillion’s collapse blueprint to end vulture capitalists ruining public services and destroying livelihoods and to stop “too big to fail” outsourcing firms like Carillion imploding.
The blueprint contains a package of measures designed to introduce better regulations and stricter rules to prevent companies being able to embellish their accounts and provide an entirely false trading position – actions that had disastrous consequences for Carillion and its workforce.
Since Carillion’s collapse Unite has led the way in calling for action to be taken to bring those responsible for the company’s collapse to justice. Unite has called for a public inquiry into Carillion’s collapse and an immediate criminal investigation into those responsible.
Write to your MP calling on them to introduce legislation that adopts Unite’s recommendations, which include:
• Requiring directors to focus on the long-term welfare of the company rather than short-term profits
• New rules which bar companies from prioritising dividends, bonuses and director’s pay over reducing pension deficits
• A stop to the government awarding contracts to companies in financial difficulties
• Long-term support from the government for sub-contractors and supply chains if a major company collapses
• Radical reform of the entire financial regulatory system, with the number of regulators being reduced and those that remain being given real power and teeth
• An end to the current outsourcing culture, with contracts being brought back in house at the earliest opportunity
• A transformation of employment laws to ensure unions have access to workforces to organise workers and prevent exploitation
• A reduction of the number of legal hurdles that must be cleared before cases taken for workers employed by a company in compulsory liquidation can go forward