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The European Commission has updated thresholds above which public procurement rules apply for the next two years.
The new thresholds for contracts governed by the Public Contracts Regulations will come into force on 1 January 2016, and will be in place until the end of 2017.
Although some of the thresholds are higher in Euros than those published in 2014, conversion rates mean all the thresholds will be lower in Sterling for the next two years than they are at present.
The revised threshold for supply and service contracts for schedule one bodies is €135,000 (£106,047). For the same contracts awarded by other bodies it is €209,000 (£164,176). For light touch regime contracts (also known as Annex XIV contracts) the threshold remains at €750,000, but the Sterling value has fallen to £589,148. The works contract threshold is now €5,225,000 (£4,104,394).
There have also been changes to the thresholds under the utilities and concessions contracts directives. According to Eversheds, these will come into force in the UK when both the Utilities Contracts Regulations 2016 and Concessions Contracts Regulations 2016 enter into effect on 18 April 2016.