Clearsprings, Mears, and Serco, companies managing asylum seeker housing, are returning excess profits back to the Home Office. Recent reports reveal they collectively earned £383m since 2019 as costs for housing asylum seekers soared, with a significant shift towards hotel accommodations. While Clearsprings and Mears have committed to repaying profits exceeding 5%, Serco claims it hasn't made enough profit for repayment. The ongoing audit by the Home Office remains a key hurdle for the companies to finalize their repayments, as the demand for hotel housing continues, impacting overall public finances.
The National Audit Office reported that three quarters of asylum accommodation funding is now directed towards hotels, which are more expensive than community housing.
Clearsprings and Mears confirmed in a parliamentary committee that they would return excess profits to the Home Office, with total profits reported at £383 million since 2019.
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