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FINANCE

Council outsourcing contracts hit £12.9bn

Councils account for the lion's share of a booming public sector outsourcing market, a market intelligence survey has shown.

Councils account for the lion's share of a booming public sector outsourcing market, worth £20bn a year – a market intelligence survey has shown.

According to findings from analyst Seymour Pierce, local government deals made up 63% of all services contracts worth more than £115,000 in 2012. This represents a 7% increase since 2008, with the total value of council contracts soaring by 140% to £12.9bn in 2012.

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