MPs from six political parties have this morning battered Capita with a tirade of attacks over its management of Arch cru investors' money, only to have their calls for a public inquiry into the debacle dismissed by Treasury secretary Mark Hoban.
In what one MP described as the public "decimation of the character" of the firm, about thirty-five MPs - five percent of all those who sit in the Commons - condemned the authorised corporate director (ACD) for refusing to accept responsibility for investors' losses and for its "wholly inadequate" offer of partial compensation. MPs warned Capita it has just two choices; pay investors 100% compensation or lose any friends it has in Parliament. The firm currently has £1.12m worth of outsourcing contracts with the government across various departments. "Capita needs to realise it wil...
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