The department's own figures show that by July around 80% of the value of operations contracted for in the independent sector had been carried out.

ECONOMIST: The threat of competition is what matters

The selloff in these losers have contracted multiples, but only the value investors with nerves of steel might proceed.

FORBES: 2012 In Review: The Best And Worst Stocks To Own

While the value of many companies has contracted, bosses' pay packets have not.

ECONOMIST: Pay for chief executives: Is that enough? | The