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There are a lot of other significant points in the LGA-commissioned report, including that 50%, rather than 85%, of the 20 largest providers have private equity or sovereign wealth fund ownership, 15% are charities and 35% are privately owned not by private equity, including by a social enterprise—which will please the noble Baroness, Lady Thornton, who sadly is not in her place to celebrate—and by an employee ownership trust. It highlights the concentration of profitability in relatively few organisations and the decline in margins in recent years.