Upcoming Events :
Housing Seminar: Partnerships with the Public Sector – Avoiding the pitfalls
Thu 31 May 2012
Minerva House, 5 Montague Close, London, SE1 9BB
New public procurement plan 'can boost UK economy'
Tue 12 Jan 2010
The government has outlined how it plans to use public procurement as a means of boosting the UK economy.
According to official figures, £220 billion of public money is spent on goods and services by the government, 95 per cent of which goes to British companies.
The Office of Government Commerce (OCG) has pledged to ensure that this money helps support small businesses across the country and encourage training, youth employment and apprenticeships.
Chief secretary to the Treasury Liam Byrne said this could be a way to stimulate future economic growth and make sure taxpayers' money is used effectively.
He also stated that government spending power would help to "lock in the recovery" by providing support and investment to businesses across the UK.
Richard Tinham, a partner at Winckworth Sherwood, commented: "The strategy places a great deal of reliance on the expertise and resources of public sector procurement and buying teams to carry it into effect.
"As a consequence, skilled teams and advisers are likely to become an even more highly prized commodity in the months that follow."
The OCG added that it wants the government's procurement activity to be carried out with the environment in mind to help Britain meet its targets for cutting carbon emissions.
Britain has committed to reducing emissions by 34 per cent on 1990 levels by 2020.
