UK not realising the innovation potential of its £236B public procurement

In 2009-10, public procurement in the UK was valued at over £236 billion, or approximately 15 per cent of GDP. The government is the single largest customer in the country. This magnitude of expenditure provides enormous potential to stimulate innovation and encourage economic growth – a potential which, according to the Committee, is not being realised, in its report, “Public procurement as a tool to stimulate innovation."