Valuing more than money: Social value and the housing sector
Article
The Public Services (Social Value) Act introduced in 2012 seeks to use public spending to create value for society. Indeed there is evidence that since the passing of the act, social value is being given greater emphasis in procurement decisions and that engagement within the private sector has also increased.
Despite this progress, at present only a small proportion of current public procurement spending (estimated at about 9 per cent (White 2017) encourages more responsible business practices.
This report finds that a number of challenges must be overcome if social value is to achieve a more transformational role in driving better business decisions across the economy. To achieve this the approach, legislation and measurement surrounding social value needs to be strengthened and made far more robust.
Related items
Taken to heart: Inequalities in heart disease in Scotland
More than 7.6 million people across the UK live with cardiovascular disease (CVD), around twice as many as live with Alzheimer’s disease and cancer combined.Skills passports: An essential part of a fair transition
This month, government will publish its Clean Energy Workforce Strategy. This plan covers two aims. First, filling the growing demand for skills in clean energy industries is essential to keep on track to reach the government’s clean power…Fixing the leak: How to end the £22 billion annual taxpayer losses at the Bank of England
The Bank of England increased its interest rates over recent years, aimed at reducing inflation. But this has also had an unintended effect on the Bank of England’s massive government bond buying – ‘quantitative easing’ – programme.