Carrilion bags 'first of its kind' council contract
Support services firm Carillion has secured a massive contract with Oxfordshire County Council, designed to save the local authority over half a million pounds a year.
Support services firm Carillion has secured a massive contract with Oxfordshire County Council, designed to save the local authority over half a million pounds a year.
The 10-year deal to provide property and facilities management could be worth up to £700m to Carillion.
It is the first time that the council has grouped all of its property services into one contract, the firm said.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
It added that this was the first local authority contract of this kind in the UK and would save the council at least £550,000 a year.
However, the company was quick to say quality would not be sacrificed.
"While contracted savings form the foundation of the solution, there is a strong commitment to improve quality to all service users by transforming the structure of service delivery and developing the skills of the people on the frontline of service delivery," it said.
Carillion will earn £500m from the provision of property and facilities management services.
A framework agreement has also been put in place through which other local councils and bodies within Oxfordshire can procure services that could increase Carillion's revenue by an additional £200m over the 10-year contract period, the firm said.
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
'We face a £6m inheritance tax bill under Reeves's changes – it's sheer terror'
Thousands of families fear they’ll have no option but to look at selling their firms in a fire sale to pay inheritance tax bills, due to Rachel Reeves’s changes to business property relief
-
Millions of over 50s fear pension investment risk – how should you position your portfolio?
To de-risk or not to de-risk, that is the question. Act too late and you could face irreversible losses. Move too early and miss out on significant gains that could transform your retirement.