Tec fails with liabilities of £5m
Thursday 22 December 1994
The Tec, covering the boroughs of Lambeth, Southwark, Lewisham and Greenwich, called for receivership under the weight of £5m worth of liabilities. Ministers last night insisted that the other 73 employer-led Tecs in England - they are new-style quangos with private company status - are financially sound.
James Paice, the employment minister responsible for Tecs, said there was no question of fraud. "It was simple bad management. They were entirely overstretched." South Thames had been the subject of three concurrent investigations into its financial management. It had found itself unable to supply sufficient financial information to the Government and in October, ministers issued a breach of contract notice. It is understood less than half of the £5m debt involves taxpayers' money, the rest is owed to contractors.
Mr Paice said the Government had issued a letter legally guaranteeing continued training for the 7,000 students presently on courses and payment for the colleges and other training providers.
- 1 Students heading off to 'charity challenge' grounded at Gatwick after travel firm goes bust
- 2 Notting Hill Carnival: Woman shares selfie after being ‘punched in face for telling man to stop groping her’
- 3 Daily Show's Jon Stewart destroys Fox News for its Ferguson coverage
- 4 When elitism grips the top of British society to this extent, there is only one answer: abolish private schools
- 5 Like Jennifer Aniston, I am no less of a woman because I am childless
Ashya King missing: Police hunt five-year-old boy with brain tumour snatched from Southampton hospital by his parents
YouTube video posted by Isis militants shows 'execution of 250 Syrian soldiers'
Daily Show's Jon Stewart destroys Fox News for its Ferguson coverage
Californian drought is so severe it's 'causing the ground to move'
Botched ice bucket challenge leaves man critically injured after plane drops hundreds of gallons of water
Exclusive: We share blame for creating 'jihad generation', says Muslim strategist
Robin Williams Emmys tribute led by Billy Crystal criticised for including 'racist' joke about Muslim woman
The Rotherham child abuse scandal is a tale of apologists, misogyny and double standards
Scottish independence TV debate: Pumped-up Alex Salmond bounces back in bruising second round against Alistair Darling
Do you realise just how foolish the UK looks?
Ukip Douglas Carswell defection: Tory MP jumps ship to join Nigel Farage
- < Previous
- Next >
£350 - £400 Per Day: Clearwater People Solutions Ltd: Our client based in Cent...
£17000 - £20000 Per Annum Bonus, Life Insurance + Other Benefits: Clearwater P...
£450 - £500 per day: Orgtel: SAS Business Analyst, London, Banking, Credit Ris...
£32000 - £38000 Per Annum Bonus, Life Insurance + Other Benefits: Clearwater P...