Serco Group announces £300 million prison contract

As part of the government's strategy to build and operate an additional 20,000 prison spaces by the mid 2020s, Serco Group expects the prison to be operating by 2023.

Dominic Raab has previously stated that this is an 'unprecedented prison-building programme' and the largest expansion of the prison estate in 'more than a century'.

Last week, The Financial Times reported a 25 per cent jump in full-year pre-tax profit for Serco, totalling £192.2 million in 2021.

Serco has previously paid a £22.9 million fine 'as part of a settlement with the Serious Fraud Office over electronic tagging contracts'. In 2013, it also paid out over £68 million after 'overcharging on its contract to provide electronic tagging of offenders'.

The new prison will be operated for profit.