Politics

‘Financial pandemic’: £1 in every £11 spent on UK public contractors goes to private equity

· The Guardian

‘Financial pandemic’: £1 in every £11 spent on UK public contractors goes to private equity

One pound in every £11 of UK government spending on contractors went to private equity-controlled companies last year, research shows, including key services such as transport, waste management and healthcare.

Politicians and economists have raised concerns over the “financial fragility and sharp cost cutting” created by private equity-backed firms, which often have high levels of debt, and the “conflicting interests” in running public services for maximum profit.

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