To ask the Minister of Finance what provisions are in place to ensure that public sector procurement contracts are awarded based on value rather than price.

Public Procurement Policy requires that contracts are awarded on the basis of best value for money which is defined as the most advantageous combination of cost, quality and sustainability to meet customer requirements.

In this context:

cost means consideration of the whole life cost;

quality means meeting a specification which is fit for purpose and sufficient to meet the customer’s requirements; and

sustainability means economic, social and environmental benefits, considered in the business case, in support of the Programme for Government.