DD1360 Subscription to Macrobond, macroeconomic data supplier

In 2014, ADD143 approved the decision to purchase four x 12 month licences to access Macroeconomic data at a cost of up to £30,000.

A mini competition, using the GLA’s Framework of Economics Consultancy was undertaken after which Macrobond Financial AB was appointed to provide licences for a period of up to three years. The contract includes a 90 day notice period to enable the GLA to terminate the service should requirements change and/or annual funding be unavailable.

This was the most economically advantageous approach in which to access this data and the GLA Economics team now seeks to renew the 4 x licences for a second year. If the service continues to meet the team’s needs in 2016, we would also consider seeking a third year of licencing at the rate stipulated in the contract (supporting paper 1).

• The cost of 4 x 12 month licenses for the macroeconomic data supplier in 2014 was £18,000;

• The same service for 2015 will cost £18,000;

• A third year of licencing in 2016 would also cost £18,000;

• If GLA Economics seeks a further (third) year of licencing as above, the total expenditure would be £54,000.

This will enable the GLA Economics' team to continue its comparative analysis work and the completion of its London forecast, with the package to be used on a regular basis by GLA Economics.