On 14 October 2024, independent think tank Localis will publish its latest research report, ‘New Values: Local Public Contracts for Networked Social Prosperity,’ sponsored by Norse Group.
The New Values report is based on in-depth consultation with key public sector experts and stakeholders, alongside extensive research into the social, legal, and political dimensions of public procurement.
Building on Localis‘ 2021 True Value report, which examines how public procurement has evolved since its exit from the EU, the new study highlights the increasing integration of social value into procurement, driven by the Public Services (Social Value) Act, Transforming Public Procurement Green Paper, and the most recent Procurement Act 2023. This transition has enabled more strategic, socially focused procurement practices, moving beyond a narrow focus on selecting the lowest bidder.
In 2022/23, public sector procurement spending in the UK reached £393bn, with growth projections of 5 per cent for 2023/24 and 3 per cent for 2024/25. As a significant portion of overall government expenditure, public procurement is a vital component of the national economy.
New Values will advocate for procurement models that prioritise societal goals, such as community recovery, job creation, and environmental stewardship—reflecting current challenges like austerity and climate change.
As sponsors of the report, Norse Group champions the move towards sustainable and ethical procurement aligned with these broader societal objectives.
Working side-by-side with local authorities through joint venture partnerships, Norse Group is dedicated to delivering long-term value by creating social impact and supporting local economic growth. Models such as LATCos provide councils with the advantages of insourcing—offering greater control over services and employment—while operating in a commercially driven environment. This approach not only returns profits to the public purse but also helps address local needs. By prioritising these values, councils can build a future where economic success leads to thriving communities.
