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Lord Leong (Lab)

Speaking in the House of Lords on 17 March 2025

Debate

Overseas Companies: UK-registered Subsidiaries

Contribution

I thank my noble friend for the question. It is important that SMEs have fair access to public contracts, which drives economic growth and the strength of public supply chain requirements. All central government departments, including executive agencies and departmental bodies, must set a three-year target for direct spend on SMEs from 1 April this year and a two-year target of direct spend for voluntary, community and social enterprises from 1 April 2026, and they have to report this annually. This is good news for SMEs.

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