Almost £24.4bn of government money went to private equity-run firms in year to April 2025, Guardian analysis shows ‘Treating children like cattle’: what happens when private equity takes over a UK care home? Nurseries, vets and shops: the sectors where private equity plays a big role One pound in every £11 of UK government spending on contractors went to private equity-controlled companies last year, research shows, including key services such as transport, waste management and healthcare. Politicians and economists have raised concerns over the “financial fragility and sharp cost cutting” created by private equity-backed firms, which often have high levels of debt, and the “conflicting interests” in running public services for maximum profit.