Public Procurement: Reform

Under this Government, public procurement will be laser focused on delivering our missions and value for money for the taxpayer. The Procurement Act 2023 will commence in February, creating a simpler, more flexible procurement regime underpinned by a new mission-led national procurement policy statement. I really welcome the wide interest of hon. Members from across the House in this work and that of so many small businesses, social enterprises and voluntary sector organisations. I look forward to bringing forward the NPPS to support small and medium-sized enterprises, tackle waste and deliver on our missions.

I am so pleased to hear about the national procurement policy statement next month. As well as encouraging buying British, there are huge opportunities to use procurement to encourage growth and local supply chains, such as in floating offshore wind in Cornwall, as well as in other industries. Will the Minister confirm that there will be a bold procurement policy that will ensure economic growth in every corner of our country, even as far down as Cornwall?

I welcomed the conversation last week with my hon. Friend, who talked me through the importance of small and medium-sized enterprises to growth in Truro and Falmouth. A lot of small businesses I have spoken to say the same thing: it can be too complex and slow to bid for Government contracts, sometimes those contracts come out too late and sometimes they cannot get on the playing field. We have listened very carefully to what my hon. Friend and others have to say on these issues, and we will bring forward an NPPS that delivers for SMEs.

I call the shadow Minister.

Unbelievably, the Treasury Committee has already raised concerns about the Office for Value for Money, citing issues around its remit, cost, cross-Government duplication and more, which could be expressed concisely as fears around the value for money of Labour’s new Office for Value for Money. Does the Minister agree with the financial markets, which do not believe this Government’s commitment to reforming public procurement or to prudent financial management, which is why they have added a Reeves ratio to the UK Government’s debt, costing taxpayers an extra £10 billion a year?

Yesterday, the National Audit Office published a report on the almost £50 billion gap in building maintenance. That is the legacy that the last Government left us: crumbling buildings, 15 years of lost wage growth and stalled productivity. Compare that with this Government’s record in just the past six months: £63 billion investment at the UK investment summit and leading the way on artificial intelligence. The International Monetary Fund upgraded our growth to the fastest in Europe. The Opposition might want to run down this country, but we are determined to grow our economy.