Context
The question addresses the importance of ensuring value for money in public procurement and seeks steps taken by the government with cabinet colleagues to achieve this.
Question
What steps he is taking with Cabinet colleagues to help ensure value for money in public procurement. Value for money is central to the Government's long-standing procurement policy, as set out in “Managing Public Money”. Current procurement regulations require contracting authorities to select the most economically advantageous tender.
Answer from Alex Burghart
Value for money is central to the Government's long-standing procurement policy, as set out in “Managing Public Money”. Current procurement regulations require contracting authorities to select the most economically advantageous tender. The Procurement Act 2023—recently received Royal Assent—will streamline procurement processes and ensure that value for money remains one of the central tenets of the UK's procurement regime.
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