After a short interlude while I was in Harare, meeting some of our stakeholders in Zimbabwe here is a delayed Chart of the week from last week.
Here at home, the news has been all about the demise of Carillion, so this chart looks at the proportion of UK public spending going to external suppliers
According to its 2016 accounts, £1.7bn of Carillon's revenue was from the UK Government. Together with its extensive work for local government customers, its total revenue from public bodies can’t be too far off £3bn a year.
Its collapse is a big deal. It will provide a major headache for many government departments and local authorities. It is an even bigger deal for the many suppliers, employees and pensioners who will lose substantial sums of money, as well as the cost to government of cleaning up the mess.
The UK public sector expects to disburse a total of £858bn this financial year. Of this, £314bn (37%) goes to external suppliers of goods and services (including capital procurement of £69bn). Despite the scale of Carillion’s operations, the £3bn it has been receiving each year from the public purse is still less than 1% of the sums going to external suppliers; and only 0.3% of the total. So while this is a crisis, hopefully it should be a manageable one.
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We can still rely on the government, which has more than once dealt with such incidents. I must say that it is said about large amounts, but this is also taken into account when planning the budget for the year. If you turn to the data published by Forbes magazine, you can safely say that the country's domestic and foreign policies are at the highest level. I hope that this will not affect us in any way.
I agree, the crisis should be manageable. In most cases, so it is. Only the problem is that the "crisis" is not for everyone. He, as a rule, palpably blows over the wallets of people with medium and low incomes. And millionaires do not pay attention to it. Although, perhaps this is not everywhere.It seems to me, it all depends on the person. If he, a student, wanted to learn and wrote his 500 words essay and tried to sort things out himself - he could find himself in life and no crisis would affect him. And if everyone has done everything for him or he has always tried to write everything off without thinking with his head - maybe many years later he will consider "pennies" in his pocket and complain about life.
What can we do as innocent consumers? External suppliers offer better terms and prices.
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