Sometimes events at Westminster lend themselves to cross pollination. The themes discussed, the risks and solutions identified, cross over from one event to another quite comfortably. This week I attended three events that fell into that category. The select committee for transport took evidence around the collapse of the franchise for the east coast railway line. This is the third time it has collapsed. I chaired an event at the Royal Aeronautical Society on behalf of the Westminster Energy, Environment & Transport Forum with the snappy title ‘Next steps for planning and delivering major infrastructure projects in the UK’. And I attended a briefing from the minister in charge of defence procurement. All three events touched on the complexities of providing the correct outcome at the right price but also highlighted the potential social benefit to the communities where companies were granted the contracts. This is known as the prosperity weighting. We would all expect any government contract to provide value for money. After all they are spending tax payer’s money. But that reminds me of the saying “he knows the price of everything but the value of nothing”. We can no longer say that the lowest bid is the best bid because it saves a few bob. Or that in the case of the east coast rail franchise the most profitable to the government is necessarily the best choice. Taking into consideration the prosperity weighting allows companies to highlight the number of jobs created, the benefit to the local community, the strengthening of the supply chain and all these factors should be just as important as the cost. All these things add to the value. Too often we see a project and all we hear is that it cost so many millions but the value to the community is often far greater than pounds and pence.