How time flies - the European Commission has recently published the new public procurement financial thresholds which will apply from 1 January 2012. The new thresholds will apply for award procedures under the Public Contracts Regulations 2006, the Utilities Contracts Regulations 2006 and the Defence and Security Public Contracts Regulations 2011.
In short the new UK thresholds under the Public Contracts Regulations are:
- Supply/Service contracts awarded by central government - £113,057
- Supply/Service contracts awarded by other contracting authorities - £173,934
- Works contracts - £4,348,350
The new 'EUR thresholds can be found here and the equivalent' GBP thresholds can be found here.