The Government has today published its long term plans for £70 billion of potential future public sector contracts for UK businesses.
The contracts listed span over the next five years and across 13 different sectors, including construction, property, medical and police equipment. It is hoped that the publication of future contract needs will help Government and industry work collaboratively to spot skills and investment gaps, safeguarding UK competitiveness and growth.
17 industry bodies and suppliers have already signed up to the ‘Procurement Pledge’, including the British Chambers of Commerce, the Confederation for British Industry (CBI), Institute of Directors and the UK Contractors Group.
Minister for the Cabinet Office, Francis Maude said: “Industry leaders recognise the value of publishing these pipelines and that is why they support our reforms which will boost growth.
“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.”
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.
The Government believes that by publishing details of our expected future requirements ahead of time and adopting a strategic approach, they 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.
Secretary of State for Business, Innovation and Skills, Vince Cable continued: “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.”
“In addition to identifying skills gaps, today’s measures will help to combat the “famine and feast” nature of the jobs market where a lack of central data on projects across the country can lead to avoidable gaps between projects.”