16 December 2009 | Paul Snell
The weakness of the pound has meant the value at which UK public contracts have to be advertised in the Official Journal of the European Union will increase next year.
Public sector contracts for supplies and services - with a few exceptions - will now have to be advertised across the EU if they are above £101,323 - compared with £90,319 currently. The threshold for works contracts has also increased from £3,497,313 to £3,927,260. The changes apply from 1 January.
The requirement to advertise deals above these limits will apply to all public sector organisations under the World Trade Organisation’s Government Procurement Agreement.
The EU has reduced the equivalent level of the thresholds in Euros, because of the currency’s strength.
The thresholds are revised every two years and the new limits will apply until 31 December 2012.
Full details of where the new thresholds apply can be found on the OGC website here.