Magazine article Public Finance

Unlocking the Potential

Magazine article Public Finance

Unlocking the Potential

Article excerpt


Partnerships UK is delighted to sponsor 'Unlocking the potential - the award for enterprise'. The extensive assets of the UK public sector include property, equipment, intellectual property and know-how, which, in addition to supporting delivery of diverse public services, have the capacity to support some commercial activity without compromising their public service function. In pursuit of the efficient use of assets, HM Treasury's Wider Markets Initiative encourages public bodies to look for appropriate commercial opportunities.

Established by HM Treasury as a publicprivate partnership in 2000, PUK supports and accelerates the delivery of infrastructure renewal, high-quality public services and the efficient use of public assets through better and stronger partnerships between the public and private sectors.

These days, public sector bodies have to display business acumen alongside a commitment to service excellence. Whether it's exploiting intellectual property, using spare capacity or maximising the value of assets such as land and buildings, organisations are expected to spot the commercial potential of their activities.

The governments current focus on efficiency, courtesy of Sir Peter Gershon's review, and Treasury rules allowing public bodies to keep and reinvest the proceeds of such ventures, means that commercial projects with private sector partners are becoming increasingly popular.

Clik Knowledge Transfer, winner of the 2005 Public Servants of the Year 'Unlocking the potential' award for enterprise, has embraced this brave new world of commerce with gusto. …

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