Procurement is key to creating local wealth argues report
Public procurement focused on local spending is key to creating wealth in communities after Brexit, according to a new report.
The Centre for Local Economic Strategies says public sector institutions' purchasing policies can bring benefits for local businesses and economies.
Its report, Opportunities for Public Procurement Post-Brexit, identifies the need to progress 'the way procurement is thought about, before outlining how central government and local places can achieve this progress in a post-Brexit context.'
It calls for ‘beefed up’ legislation based on creating social value and highlights the need for more localised frameworks and approaches as part of a 'new economic urban agenda for the UK'.
The report's author, CLES deputy chief executive Matthew Jackson, said: ‘There obviously has to be emphasis placed upon price, compliance and quality in any procurement process.
'However, I would argue that there is a real opportunity, post-Brexit, to make procurement more socially responsible and more aligned to the wider local economic, social and environmental challenges facing government and our local areas.'