Public Procurement Reform Could Add £14 Billion to Local UK Economies

A recent report, in response to the UK Government’s Industrial Strategy, is calling for a clearer contribution of Social Value for all public sector procurement over £10m. It is possible to achieve high levels of social value and local spend, it says, so the government should now look to set a 20 percent minimum delivery of social value on projects over £10m. The research argues that, through reformed public procurement rules, up to £14bn could be invested in local economies. The report also highlights the need for better government guidance, advice, and support for SMEs on public sector procurement, including how to form effective consortia and create a social value strategy. The report can be downloaded here, and the full story is available on LocalGov.

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