26 April 2012

UK Procurement Pledge with £70bn Investment

The UK Government Office published up to £70bn of new availability government contracts to be found that spans across a five year window.

Business leaders have welcome the move which is part of the Procurement Pledge by the Government. This publication permits a closer relationship between the public and industry so that skills and investment are established in such a way to help the UK's competitiveness and growth.

A statement by the UK Office minister Francis Maude: "Never before has a government been so open about its long-term business needs. Publishing data on what we plan to buy – whether it's tunnels or computers – means we can identify skills gaps sooner and give industry a heads up so UK businesses are in a better position to compete."

Furthermore, the Business secretary Vince Cable, added: "In the coming years the government will purchase billions of pounds worth of equipment and services, which means billions of pounds worth of potential opportunities for UK business.  By publishing details of our expected future requirements ahead of time and adopting a strategic approach, we can help give UK suppliers the confidence to invest in people, plants and technologies here at home so they can compete for and win these government contracts, as well as seek new opportunities abroad. Frankly, we've been too short-term in how we've done procurement in the past. Our key competitors in Europe already see procurement as an integral part of a proper industrial strategy and it’s time we did the same. This is a win-win scenario, making our businesses stronger and providing best value for the taxpayer."

The government has also published an initial analysis on future demand, where further information can be found here, the website.