Valuing more than money: Social value and the housing sector

Article

Public spending creates large markets for goods and services: total UK public procurement amounted to £292 billion in 2018/19, around 14 per cent of GDP or 36 per cent of total government spending. Standards driving procurement decisions can therefore have a powerful effect in supporting and encouraging good business behaviours.

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

  1. A young woman with a long ponytail sits looking out of a bus window

    State of the North 2025 - The kids aren't alright: How to deliver for young people in the North

    This year’s State of the North report highlights how regional inequality exacerbates the growing challenges facing many young northerners. 
  2. An illustration of an ideal public transport system: a smiling family cross a road near a green bus with houses and trees in the background

    The transport challenge for low-income households

    Many people living on low incomes in the UK are limited in their ability to access the building blocks of a good life because of poor transport provision.

  3. Towards universal opportunity for young people

    Outlining a vision for young people which could increase social mobility while also reducing inequality and disadvantage, so that every young person has the opportunity to build a decent life.