Wednesday, 01 May 2013 12:15
'Ministers are preparing to spin off “dozens” of state-owned services into independent companies in what could be one of the largest privatisation programmes since the 1980s.
Under plans being rolled out by the Cabinet Office, millions of pounds’ worth of state-owned services will be spun off into independent companies – jointly owned by private-sector investors and their employees – within the next two years. Eventually as many as one in six civil servants – or 75,000 staff – could be transferred into the private sector with the Government maintaining a minority stake and offering long-term contracts to the new companies to encourage investment.'
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