13 Aug 2015 08:37
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Don't have an account? Click here to register.Public sector outsourcing rocket 53% in 2018 despite struggles
Tue, 15th Jan 2019 09:54
(Sharecast News) - GMB union has launched the Go Public campaign to reduce the outsourcing of public services which has risen by 53% in 2018 despite the struggles of many operators in the market and the Carillon collapse last year.In 2017/18 the lifetime value for the contracts was £95bn, up from £62bn the year before. With a special increase coming from the central government (up 144%) and further and higher education (up 126%).Capita which incidentally issued a profit warning in 2018, was one of the biggest winners of public outsourcing said the union, receiving contracts worth almost £1.4bn in 2017/18.Meanwhile Interserve, which issued two profit warnings in just two months at the end of last year, took £450m worth of contracts.The union this week launches its Go Public campaign which calls for an end to outsourcing and privatisation in UK public services and for a better deal to the taxpayer.Rehana Azam, GMB National Secretary, said: "What this shows is despite the tragic fiasco of Carillion, the government hasn't learned its lesson."The Conservatives are hell bent on privatisation and outsourcing our public services - regardless of the consequences."What other explanation can there be for this huge increase on outsourced contracts in the year Carillion went bust and when other outsourcing giants look like they're on life support?"
More News
12 Aug 2015 16:12
FTSE 250 movers: Gold miners lifted as mid-caps trip on China's currency fiddling
(ShareCast News) - The FTSE 250 tumbled in early trading and by the close of the session was down 1.3% at 17,438.09 points. There were a few stocks in positive territory, however, with a three-week haven-inspired high in gold prices helping gold-miners Centamin and Acacia Mining top the second-line
Read more12 Aug 2015 08:21
UPDATE 1-Interserve warns that higher wage bill could stall growth
(Adds CEO comment, analyst, share price) LONDON, Aug 12 (Reuters) - British support services and construction company Interserve expects a rise in Britain's minimum wage to hit profit next year, it said on Wednesday, sending its shares down 4 percent on the potential for growth to stall fo
Read more12 Aug 2015 08:05
BUZZ-Interserve: Minimum wage impact hurts stock
** Support services and construction firm Interserve falls 5.8 pct, among top losers on FTSE midcap index ** Higher minimum wage would hurt margins by about 10-15 mln stg in 2016, co said ** Co also posted a 12 percent rise in H1 profit ** Worst day for stock in 8 mths, at leve
Read more12 Aug 2015 07:33
Interserve interim profits jump but minimum wage will hit margins
(ShareCast News) - Support services and construction group Interserve posted a 19% rise in first-half pre-tax profit and said it remained confident of further growth for the remainder of this year, albeit with the higher minimum wage likely to hit margins. Pre-tax profit for the six months ended 30
Read more12 Aug 2015 06:19
Interserve confident of growth after H1 profit rises 12 pct
LONDON, Aug 12 (Reuters) - British support services and construction firm Interserve posted a 12 percent rise in half-year profit and said it was confident of future growth as demand in its main markets continued to strengthen. The company identified the recently announced higher minimum wa
Read more12 Aug 2015 05:12
11 Aug 2015 15:14