The UK Chancellor of the Exchequer, Philip Hammond announced the British Spring Statement on 13 March 2019. In the current political climate, it was no surprise that much of the statement revolved around Brexit strategies. However, Mr Hammond did also speak in depth about the UK government’s investment into “technologies of the future”.


UK Government’s investment strategy

During his speech, Mr Hammond said that the UK Government’s “investment strategy is benefiting the whole of the UK”. The government has committed £60 billion of new spending since 2016, as part of a long-term investment plan.

In the Statement, the Chancellor announced that up to £260 million will be allocated to the innovative Borderlands Inclusive Growth deal which covers the border regions of England and Scotland.

He also noted that “negotiations are progressing on future deals for mid-Wales and Derry/Londonderry…”



Mr Hammond also spoke about the government’s support for public services in Britain and noted that £4 billion went into the NHS in 18/19 alone.

The Chancellor of the Exchequer wants to give tax payers in the UK the best value for their money and therefore plans to complete a full three-year Spending Review before the summer recess, which will be concluded and announced alongside the Autumn Budget. The Spending Review will set departmental budgets, of course including the NHS.


Sustainability and efficiency

The UK public sector wants to work with suppliers that offer more than just cost efficiency. Sustainability and efficiency are high on the UK government’s agenda and public sector organisations are now moving towards a supply chain that can help to improve society.

It was also announced during the Statement that that there will be a ‘call for evidence’ which will focus on the benefits of energy efficiency and carbon reduction for SMEs. The results of this will lead to SME-specific investment commitments.


Opportunities with the UK public sector

The UK’s Spring Statement should give Irish suppliers some food for thought…

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