According to the joint investigation by the Business, Energy and Industrial Strategy and Work and Pensions Committee, Carillion’s failure is a “story of recklessness, hubris and greed”.

“Delusional” directors were so focussed on “prioritising bonuses to themselves and increasing dividends” they ran Carillion into the ground. Indeed, MPs conclude that Carillion was so badly run that the government was correct not to bail it out. Taxpayer money “should not be used to prop up companies run by such negligent directors”.

• Subscribe to ITV News on YouTube: http://bit.ly/2lOHmNj
• Get breaking news and more stories at http://www.itv.com/news

Follow ITV News on Facebook:   / itvnews  
Follow ITV News on Twitter:   / itvnews  
Follow ITV News on Instagram:   / itvnews