Wakefield residents get another huge financial boost from YPO as dividends top over £5m in last 10 years
shared ownership of YPO – the largest public sector buying organisation in the
UK – has just delivered another £404,000 boost to the council’s budget.
This latest dividend means that, in the last ten years, Wakefield Council’s
residents have benefitted from over £5million being pumped into services thanks
to the council’s commercial relationship with the YPO.
The money goes directly into the Council’s budget, supporting all council
services, particularly those critical services for the district’s most
Wakefield Council is one of 13 local authorities who own YPO. As well as annual
dividends the membership also delivers savings by providing cost-effective
purchasing frameworks which the Council and schools can access, as well as
helping to drive efficiencies through bulk-buying.
Cllr Les Shaw,
Cabinet member for Corporate Services said: “One of our key commitments to
residents is to ensure we get the very best value for every penny we spend and
“Our membership with YPO delivers just that, not only by giving us access to
innovative technology, bulk-buying power, competitive and compliant purchasing
frameworks but also by ensuring we, as shared owners, reap the healthy
financial returns of YPO’s commercial success.
“Let’s not forget the social value that YPO also brings to our district with
its headquarters in Wakefield, bringing local employment as well as putting
money directly into the district’s economy through their supply chain and
“Wakefield Council is ambitious and enterprising. This is a great example of
the council being business minded, which supports us to deliver excellent
services for our residents and businesses.”