Wakefield residents get another huge financial boost from YPO as dividends top over £5m in last 10 years

24/10/2018, PR8902

Wakefield Council’s 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 vulnerable people.

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
Cllr Les Shaw

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 invest.

“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 business rates.

“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.”

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