It’s time to deliver outcomes: Autumn Budget reaction from Pagabo Group
Simon Toplass, chief executive officer at Pagabo Group, said: “While the release of the details was somewhat chaotic with the accidental early release of the OBR’s report, this year’s Autumn Budget has provided some desperately needed clarity on anticipated changes to divisive issues such as tax, pensions and wages.
“Now we know the lay of the land, our collective attention needs to turn towards pushing forwards and delivering important outcomes. The hope is that renewed clarity will inspire an increase in decision-making, commitment and stability across the public and private sectors. While some areas of our economy will feel they’ve missed out on financial support from the government, and others have had their existing support scaled back, we see two solutions that must be prioritised to drive growth – these are new public-private partnerships and improved investment deployment.
“From major transport infrastructure to new community health centres, public-private partnerships are going to be an essential development vehicle to get projects off the ground, delivered successfully and generating community social impact – especially as the Budget confirmed that capital spending by departments will be frontloaded over the next few years. With the OBR reducing expectations for productivity growth by the end of the forecast, a good example of private enterprise backed by public ambition must be set and be further supported by the right procurement routes to ensure effective spend.
“The UK is not short on government investment; it’s lacking in successful conversion and meaningful outcomes. But now is the ideal time to change this. The public and private sectors have a role to play in creating effective partnerships and sharing risk, which will ensure a financial return on investment and social legacy regardless of where the investment is sourced from.”
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