Go Ahead and Spend...Wisely!
Leading purchasing experts believe the UK should spend its way wisely out of economic trouble rather than making austere savings - with big infrastructure projects at the top of the public shopping list, according to a recent poll of senior procurement professionals.
For 57 percent of those polled, "measures to get the UK spending more" is the most important priority, indicating that more economic activity is favored by procurement people tasked with squeezing best value out of corporate budgets.
Moreover, 48 percent said that public sector spending regulations restricted best value, suggesting that public money is not spent as wisely as it could be.
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When asked what the Chancellor’s top two budget pledges to UK businesses should be, 70 percent cited increasing spending on UK infrastructure projects, which would help to create many opportunities for businesses as well as making all parts of the UK a more attractive destination for industry.
The second most popular option, for 52 percent, was boosting job creation measures which could help to accelerate consumer spending.
“As the people who are responsible for making every penny of an organization’s money deliver best value, the views of the procurement profession should be right up there as a source of Government spending intelligence,” says Daniel Ball, Director of Wax Digital, which conducted the poll. “What’s really clear from these findings is the need for wiser spending than exists today, where maximum possible benefit for the UK economy is squeezed from every transaction.”
The poll was conducted by Wax Digital in March 2012 amongst senior procurement professionals at eWorld Purchasing and Supply, London, and subsequently online.