Concerns are being raised over the prospects of other outsourcing companies in the wake of Carillion’s collapse- share prices of Interserve and others plummeted yesterday followed Capita’s profit warning and emergency £700m fundraising on Tuesday.

Whether the sector recovers or not, there should be a wider investigation into the culture that has allowed Carillion’s collapse to happen- and the weak safeguards in place for employees, pensioners, creditors and others.

There is an initiative underway, led by the Financial Reporting Council, to promote better corporate culture. But one wonders whether we need to look more deeply at the whole realm of public-private relationships to ensure we don’t end up in this situation again.