The Public Procurement Act 2023 received Royal Assent on 26th October 2023. This Act will come into effect in October 2024, with a 12 month lead in time. It is the most comprehensive revision of Public Procurement post Brexit and may change some of our internal Procurement Regulations. With a 12 month lead time, there will be sufficient notice to amend any processes and procedures. Training will be delivered on this as we get nearer to the implementation date of the Regulations.
Updated thresholds for public procurements to be applied from 1 January 2024:
The financial thresholds for the application of the Public Contracts Regulations 2015 will change from 1 January 2024. The Public Procurement (Agreement on Government Procurement) (Thresholds) (Amendment) Regulations 2023 (SI 2023/1117) set out the position.
The threshold amounts of most thresholds will be increased slightly however our internal thresholds are different from the external thresholds to compensate for project creep and similar. The exception is the Light Touch Regime, which remains unchanged. Neither of these will not change any internal thresholds.
The threshold amounts are inclusive of VAT.
Service Contracts / Supply of Goods Contracts
To 31st December 2023 : £213,477
From 1st January 2024 : £214,904
All Works (including subsidised works contracts)
To 31st December 2023 : £5,336,937
From 1st January 2024 : £5,372,609
Light Touch Regime (unchanged) : £663,540
Works (including subsidised works contracts)
To 31st December 2023 : £5,336,937
From 1st January 2024 : £5,372,609
Concession Contracts
To 31st December 2023 : £5,336,937
From 1st January 2024 : £5,372,609
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