Private firms providing services to NHS made ÂŁ1.6bn profit in two years, research finds
Exclusive: MPs say profit-making levels in England are âscandalousâ and call for cap on amount private companies can make from NHSPrivate firms providing services to the NHS including healthcare and consultancy have made ÂŁ1.6bn in profits over the last two years, research reveals.The findings â on the basis of contracts worth ÂŁ12bn â have prompted claims of âscandalousâ profiteering, concern that the health service is being âtaken for a rideâ and calls for ministers to impose a cap on maximum profit levels.ÂŁ2bn of the ÂŁ12bn of contracts went to firms with owners based outside the UK.ÂŁ533m of that ÂŁ2bn went to companies owned by people living in tax havens such as Jersey and the Cayman Islands.Firms, especially those owned by private equity outfits, used ÂŁ353m of their ÂŁ12bn NHS income to pay interest on debts. Continue reading...
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