New office charged with saving up to €600m a year

The Government has moved to trim its massive €9bn annual outlay on procurement by setting up a National Procurement Office charged with saving up to €600m a year.

The plan was given the green light at yesterday’s Cabinet meeting, with the new office — led by a Chief Procurement Officer, to be appointed shortly — to look at procurement strategy, policy and operations.

The body will operate under the Department of Public Expenditure and Reform, with a target of bringing in annual savings of between €200m and €600m.