Social security

Since the 1980s, the government has contracted out many parts of social security to private companies. This means you pay while private companies profit.

Research shows that private provision may be less efficient in employment services, so why are we still wasting money on privatisation failures?

Between 2012- 2013, central and local governments spent £4.3 billion of your money on these four leading companies involved in social security, despite their major failings. 

Read more about the privatisation of social security here.

 

 

 

Capita is a multinational outsourcing and business services company, based in London. It is one of the largest outsourcing companies in the UK, and is contracted to provide public services in a huge variety of areas, including local government, the NHS, central government, defence, justice services, some emergency services and others.  

Capita's share price fell over 40% in 2 days in January 2018 after it was revealed that the company was in debt and managing too many complex contracts. Shareholders sold their shares in a rush, worrying about the effect of the collapse of Carillion just a couple of weeks earlier on the UK outsourcing market.

Capita's entanglement with private companies and local and central government is extensive; their latest annual report boasts that the company is 'systemically important to the UK economy'. They have an estimated 41% of the £4bn-a-year public sector outsourcing market. They are currently entirely responsible for the NHS's Primary Care Support service, (PCSE), which has been heavily criticised by GPs for being chaotic and dangerous for patients.

Capita is a plc listed on the London Stock Exchange. Its major shareholders are mostly investment and asset management funds. 

Atos deals in Information Technology (Consulting, Systems Integration, Managed Services), business consulting, and outsourcing (such as healthcare and social security).
 
In the United Kingdom, according to a National Audit Office report on the government's four biggest suppliers, Atos earned £700 million in revenue from the public sector in the UK in 2012; of £7.2 billion sales worldwide. Atos holds £3 billion worth of UK government contracts providing services to a wide range of organizations including NHS Scotland, Home Office, Welsh Government,the Ministry of Defence,Transport for Greater Manchester,the BBC and a multimillion outsourcing contract to NS&I.
 
French businessman Thierry Breton is the Chairman and CEO. Its headquarters are located in Bezons, France and Munich, Germany.
 

A subsidiary of SYNNEX Corporation.

Concentrix is a company which provides services in various sectors such as Automotive, Banking and Financial Services, Consumer Electronics, Energy and Public Sector, Healthcare Services, Insurance, Media and Communications, Retail and eCommerce, Technology, and Travel, Transportation and Tourism.

It was contracted by HMRC to 'review and correct' personal tax credit payments in 2013. The contract was such a failure that HMRC has now promised that tax credit claimants will 'never have to deal with a private company again'. 

Have you seen a story of privatisation failing? Email us the link at info@weownit.org.uk and we'll add it to the list!