Wise spending needed to get out of austerity by Daniel Ball, Director, Wax Digital on 06-Apr-2012

The UK should spend its way wisely out of economic trouble rather than making austere savings with big infrastructure projects top of the public shopping list, according to a poll of senior procurement professionals conducted by Wax Digital. However, many also say that regulations stand in the way of getting best value for money.

For 57% of those polled, measures to get the UK spending more are the most important priority, indicating that more economic activity is favoured by procurement people tasked with squeezing best value out of corporate budgets. However, 48% said that public sector spending regulations restricted best value, suggesting that public money is not spent as wisely as it could be.

When asked what the Chancellor’s top two budget pledges to UK businesses should be 70% cited increasing spend on UK infrastructure projects, which would help to create many opportunities for UK businesses, as well as making all parts of the UK a more attractive destination for businesses. The second most popular option, for 52%, was boosting job creation measures which could help to accelerate consumer spending.

"As the people who are responsible for making every penny of an organisation’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, Wax Digital. "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."

For more information, visit: www.waxdigital.com.

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