Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps his Department has taken to ensure the greatest economic benefit to the UK from his Department's (a) public procurement and (b) award of contracts.

Public spending is prioritised through the Spending Review process and established in departmental business plans. Managing Public Money provides guidance on the management and best use of public funds, a key requirement of which is achieving value for money.

The Treasury (HMT) works in partnership with key stakeholders to ensure that its procurement activity delivers value for money for the taxpayer, is compliant with its legal obligations and supports the delivery of policy objectives. Contracts are awarded to suppliers submitting the most economically advantageous tender demonstrating the delivery of value for money.

HMT is contributing to the Government’s aim to spend £1 in every £3 with Small and Medium Enterprises (SMEs), directly or through the supply chain, by 2022. Since SMEs make up a significant part of the UK economy, supporting their growth aligns to HMT’s responsibility for ensuring the economy grows sustainably.