UK Parliament / Open data

Local Democracy, Economic Development and Construction Bill [Lords]

My hon. Friend makes a thoughtful and practical point. We can be more creative, when it comes to Government and local authority procurement, in looking at the factors that we take into account. We need to look not only at the bottom line, but at the social impact in an area. The evidence base suggests that if money is spent locally in the local community, every £1 spent has £7 worth of economic impact. If it is spent outside the area, the impact is much lower. In these tough economic times, it is very important to have local supply chains that help to create and sustain employment. The aspects of this Bill that relate to the construction industry are about better cash flow and trying to ensure that there is an adjudication process for the industry. I think that the Bill will provide practical help for construction companies in the present climate.
Type
Proceeding contribution
Reference
493 c36 
Session
2008-09
Chamber / Committee
House of Commons chamber
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