The Government decision to halt the outsourcing of four out of the eight prisons currently in state hands has shocked the outsourcing industry and caused a sector wide selloff. Shares slumped after the government performed a u-turn on its stately procession towards privatisation, cutting in half the number of prisons up for grabs; and analysts believe the change in tack raises questions about the outlook for the industry, the type of contracts available and the pace at which government work will materialise from bid pipelines.
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