The UK is set to spend over £9bn this year on PFI contracts – and a total of £48bn in the next five years. This level of spending will continue until we see the first peak in contracts expiring around 2030. Expiry will see assets worth £14bn (their original capital value) transferring back to public ownership.

There is no doubt that we’re going through one of the toughest periods in living memory, for individuals, for organisations and for the sectors and industries they work in.