Building a Northern Powerhouse is about boosting the local economy by investing in skills, innovation, transport and culture, as well as devolving significant powers and budgets to directly elected mayors to ensure decisions in the North are made by the North.
We are backing business growth right across the North, and giving our great cities the power and resources they need to reach their huge untapped potential.Known for its vibrant cities, scenic landscape and friendly population, the North offers not only an unrivalled quality of life, but excellent career prospects. With continued investment from the Northern Powerhouse into the region and emerging industries such as media, digital and technology, now is an exciting time to pursue a career in the North.
The Government’s ‘Northern Powerhouse’ department in Sheffield is to close and 247 jobs moved to London, it has been announced. The Department for Business Innovation and Skill’s largest office outside London will be shut down and a dozen more regional offices are at risk of closure as the department moves to centralise its staff. The closure is part of a wider programme to reduce the department’s operating costs and staff size by 2020. But it has prompted many to accuse the Tories of showing ‘utter contempt’ for the North.
could you make it up?
If we learn from our mistakes, why aint I a genius, If you educate the masses where's the advantage for the few?
Unfortunately your right,it’s a kick up the bollocks for all the ex miners,steelworkers,railwaymen,engineers et al wasted skills,criminal.
Just what they wanted to hear at Christmas or any other for that matter.
Everything that is wrong with UK today, from housing crisis, banking crisis, loss of manufacturing, unaccountable power companies, useless rail and public transport infrastructure, it can all be traced back to one person.......
Don't bank on that "Northern Powerhouse" just yet.
Carillion: 'Matter of days' to stop collapse
2 hours ago
The future of troubled engineering company Carillion is being discussed at high-level government meetings this weekend, the BBC understands.
The firm is a key government contractor for projects including the HS2 high-speed rail scheme, schools and prisons.
Sources say the firm has a "matter of days" as it teeters on the edge of collapse, with £1.5bn of debt including a pension shortfall of £587m.
Carillion is trying to reach an agreement with creditors.
Liberal Democrat leader Sir Vince Cable said the government must not bail out the struggling construction company, the second largest in the UK.
Sir Vince, a former business secretary, told BBC Breakfast: "They've got to force the shareholders and indeed the creditors, the big banks, to take losses, and then the government can take responsibility for taking the contracts forward and making sure they are delivered."
PM 'resists huge bailout for stricken contractor Carillion' amid fears firm could collapse under £1.5bn debt TOMORROW dealing hammer blow to schools, hospitals and transport projects
Fears contractor could collapse under weight of huge £1.5billion debt pile
Company has been in crisis talks with creditors and officials over the weekend
Construction has contracts in schools, prisons, hospitals and rail projects
Calls for shareholders and banks to take biggest hit in any rescue package
By James Tapsfield, Political Editor For Mailonline
Published: 09:28, 14 January 2018 | Updated: 15:28, 14 January 2018
Theresa May is said to be resisting a huge TAXPAYER BAILOUT for stricken construction giant Carillion.
The firm is facing the threat of collapse under the burden of £1.5billion in debt - with fears of dire consequences for a host of public services.
The company holds a range of crucial government contracts, including with schools, hospitals, prisons and transport infrastructure.
Whitehall officials have been working through the weekend in a desperate bid to agree a rescue package before financial markets open tomorrow.
But it is understood ministers are unwilling to step in and underwrite massive debts, with calls for shareholders and banks to take the hit instead of the public purse.
Tory chairman Brandon Lewis said today that the government was keeping a 'close eye' on the situation, while stressing that the company was still a 'going concern'.
Transport Secretary Chris Grayling has been criticised for handing Carillion work on the HS2 project just a week after it issued a shock profit in July.
Carillion on the brink as UK government prepares for firm's collapse
Administrators drafted in prompting fears for 43,000 jobs, major projects and crucial public services as last-ditch TALKS END WITHOUT DEAL
Sun 14 Jan 2018 19.21 GMT
Last modified on Sun 14 Jan 2018 22.12 GMT
Construction firm Carillion is on the brink of collapse, raising fears for the future of a host of major government projects and day-to-day services, from schools to hospitals, prisons and the army.
The Cabinet Office hosted emergency talks on Sunday aimed at mapping out a future for a company that employs 43,000 people – including nearly 20,000 in the UK – but the meeting broke up without a rescue deal being announced.
Accountancy firm EY has been drafted in to manage a potential administration process, which could be triggered as soon as Monday morning.
Trade unions branded Carillion a “textbook example of the failures of privatisation” and urged the government to step in to guarantee jobs and services.
You can always rely on the private sector to get the job done and return a handsome profit. Oh!
Thousands of jobs at risk as Carillion goes into liquidation
Construction company involved in government projects including HS2 collapses as last-ditch talks with lenders fail
Mon 15 Jan 2018 08.44 GMT
First published on Mon 15 Jan 2018 08.01 GMT
The construction firm Carillion, which is involved in a host of major government projects such as HS2, has gone into compulsory liquidation, putting tens of thousands of jobs at risk.
Last-ditch talks by the company’s bank lenders at the weekend collapsed, even though emergency talks were hosted by the Cabinet Office.
Carillion said in statement to the London Stock Exchange: “Despite considerable efforts those discussions have not been successful, and the board of Carillion has therefore concluded that it had no choice but to take steps to enter into compulsory liquidation with immediate effect.”
An application was made to the high court for a compulsory liquidation of Carillion before the opening of business on Monday and an order has been granted to appoint the official receiver as the liquidator.
The accountancy firm PricewaterhouseCoopers (PwC) is expected to be appointed as special manager to act on behalf of the official receiver and handle the collapse of Carillion, which employs 43,000 people worldwide, including nearly 20,000 in the UK.
Rebecca Long-Bailey, the shadow secretary of state for business, energy and industrial strategy, told BBC Radio 4’s Today programme that big job losses could be avoided “if the government acts quickly and brings contracts back in-house”.
Carillion said the government would provide funding necessary to maintain the public services carried out by Carillion staff, subcontractors and suppliers. The government urged workers to go to work as usual and promised them they would be paid via the official receiver.
The firm is involved in many public infrastructure projects – from transport and health to education and defence – and provides other vital public services such as cleaning and catering in NHS hospitals, the provision of school dinners in nearly 900 schools and prison maintenance.
Carillion goes into liquidation after last-ditch talks fail - live updates
The Cabinet Office minister, David Lidington, said some services would be taken in-house while others would be handed to other operators “in a managed, organised fashion”.
He defended the government’s decision not to bail out the company and pointed to contingency plans drawn up following Carillion’s first profit warning in July. This means that contracts were drawn up so that if Carillion failed, other contractors would take over its responsibilities.
Rehana Azam, the national secretary of the GMB union, said: “The fact such a massive government contractor like Carillion has been allowed to go into administration shows the complete failure of a system that has put our public services in the grip of shady profit-making contractors.
“The priority now for the government and administrators is making sure kids in schools still get fed today – and our members still have jobs and pensions. What’s happening with Carillion yet again shows the perils of allowing privatisation to run rampant in our schools, our hospitals and our prisons.”
Labour and the Unite union called for an urgent inqiry into Carillion’s collapse. Unite also expressed concern about the impact on the wider supply chain, warning that many small firms were now at serious risk of collapse.
“PwC must put workers and suppliers at the head of the queue for payment, not the banks and certainly not the Carillion boardroom,” Unite said.
Jon Trickett, the shadow minister for the Cabinet Office, said: “Given £2bn worth of government contracts were awarded in the time three profit warnings were given by Carillion, a serious investigation needs to be launched into the government’s handling of this matter.”
Carillion ran into financial difficulties last year after issuing three profit warnings in five months and writing down more than £1bn from the value of contracts.
It has debts of about £1bn and a £600m pension deficit, and is being investigated by the Financial Conduct Authority over announcements made between December 2016 and July 2017.
Philip Green, the company’s chairman, said: “This is a very sad day for Carillion, for our colleagues, suppliers and customers that we have been proud to serve over many years. Over recent months huge efforts have been made to restructure Carillion to deliver its sustainable future.
“In recent days, however, we have been unable to secure the funding to support our business plan and it is therefore with the deepest regret that we have arrived at this decision.”
Banks face £2bn of losses from collapse of HS2 contractor Carillion
Losses facing Carillion’s lenders will far exceed the £900m of debt owed by the company when it collapsed, Sky News learns.
Monday 15 January 2018
By Mark Kleinman, City Editor
Lenders to Carillion, the construction giant which collapsed into liquidation on Monday, are facing losses of up to £2bn, making it ONE OF THE COSTLIEST CORPORATE INSOLVENCIES FOR YEARS.
Sky News has learnt that a complex series of financing arrangements for subsidiaries of Carillion mean that the total exposure of its banking syndicate is far higher than the £900m headline debt figure carried by the listed construction group.
Industry sources said that £2bn was "a sensible estimate" of the huge losses confronting the company's banks, following the failure of last-ditch rescue talks over the weekend.
Those worried about their job have been told that Job Centre Plus 'stands ready' to support any affected employees through its rapid response service.
Staff working directly for liquidated companies will be entitled to redundancy payments.
Carillion directors to be investigated
55 minutes ago
The government has ordered a fast-track investigation into directors at the failed construction firm Carillion.
The UK's second biggest construction firm went into liquidation on Monday, after running up losses on contracts and struggling with heavy debts.
The business secretary has asked for an investigation by the Official Receiver to be broadened and fast-tracked.
The conduct of directors in charge at the time of company's failure and previous directors will be examined.
"It is important we quickly get the full picture of the events which caused Carillion to enter liquidation," said Business Secretary, Greg Clark, in a statement.
Depends what they mean by "fast-track". They said the Grenfell inquiry was a matter of urgency and look where we are seven months later - nowhere. What is that prat Sir Martin Moore-Bick doing, apart from scratching his arse? Theresa May said on 29 June that she expected that Moore-Bick will want to produce an interim report "as early as possible". Really?