Source · Select Committees · Public Administration and Constitutional Affairs Committee
Recommendation 10
10
Paragraph: 59
The Committee heard evidence that investment in major cities, including London, has more immediate economic...
Conclusion
The Committee heard evidence that investment in major cities, including London, has more immediate economic benefit than investing in areas where there is currently slower economic growth.
Paragraph Reference:
59
Government Response
Acknowledged
HM Government
Acknowledged
Major cities, including London, generally have higher levels of existing capital stock, which results in a more immediate economic benefit than some regions of the country where economic growth may be slower. However, this does not take account of social value. Government has therefore taken steps to address this and in 2019 pledged that all departments in the central government would regularly report on the social impact of new procurements and that commercial buyers would be trained on how to take account of social value.