I agree with you to a large extent however, to try to answer your question,
The people "coining it" now in the UK are those who own businesses providing services to and having contracts with government departments. These could be children's services such as children's homes or SEND schools, consultancy services, hotels providing accommodation, construction services. This is a dramatic change from 40 years ago when this was not the case.
I haven't even mentioned Carillion yet but this is a perfect example of who is getting very wealthy in the UK as a result of lax government practice.