The government has announced £70 billion in potential public sector contracts for the next five years. The contracts cover multiple sectors including property, medical, emergency services and ICT with a potential £1.7 billion in contracts.

In publishing the potential contracts, the Government hopes to avoid investment gaps while promoting competitive bidding for new business. The G-Cloud is expected to receive £250 million of the potential investment.

Vince Cable, Secretary of State for Business, Innovation and Skills, said today: "Frankly, we’ve been too short-term in how we’ve done procurement in the past. Our key competitors in Europe already see procurement as an integral part of a proper industrial strategy