Public sector bodies spent almost £17bn with private equity-backed firms owned offshore in the 2024-25 financial year, according to analysis by the GMB union and procurement data company Tussell, published as the union presses Labour’s conference this week for new procurement laws.
The figures show that contracts worth £16.95bn went to private equity-backed firms whose global ultimate owner was based offshore.
Across all private equity-backed suppliers, public sector contracts totalled more than £31bn in the same year, the GMB said. Offshore-owned firms therefore accounted for more than half of that total.
Support authors and subscribe to content
This is premium stuff. Subscribe to read the entire article.
Login if you have purchased
