The construction giant, which provides services for schools, prisons and hospitals, has gone into liquidation. Cabinet Office minister David Lidington said the two-hour Cobra committee talks enabled ministers to air any concerns. Meanwhile, Labour leader Jeremy Corbyn attacked government policies and called Carillion a "watershed moment". In a video released on social media, he said: "In the wake of the collapse of the contractor Carillion, it is time to put an end to the rip-off privatisation policies that have done serious damage to our public services and fleeced the public of billions of pounds." Carillion ran into trouble after losing money on big public sector contracts and running up huge debts of around £1.5bn. The government is stepping in to pay employees and small businesses working on Carillion's public contracts and assess the distribution of contracts among other companies.