Private equity. They are a cancer. I would love to understand the effect that sector is having on tax and inflation as a whole.
It is also a consequence of successive government and councils squeezing direct funding to make savings in one area, costs ballooning in another, forcing further savings in the first area. My wife once presented her local council with some really basic number on this, simply cost to recruit and pay for council foster care, versus the costs incurred for private sector placements to meet statutory requirements where council placements are unavailable.
She got a positive reaction from the numpty level councillors, but over the next year or two the same idiots declined payment increases to foster carers to save costs, and they carried on losing carers to the better paying private sector. This meant the council was paying for their training, approval and background checks, then paying a private company more to benefit from that. (Not that a lot of these enterprises are "not for profit" but the amount of money that can be skimmed off that doesn't count as profit makes that distinction meaningless.)
It is compound idiocy from people who are incapable of learning, but who spend our money.