Laura Autiero, Associate at Foot Anstey, comments on the lower EU procurement thresholds.
The financial thresholds at which public authorities and utility companies must comply with the procurement rules changed on 1 January 2016.
A routine updating of the thresholds takes place every two years. However, because the pound has strengthened against the euro, the new thresholds in the UK are more than 5% lower than in 2015.
The new thresholds will be as follow:
The below threshold regime under the Public Contracts Regulations continues to apply to procurements above £10,000 / £25,000 (depending on the type of authority).
The concession contracts threshold will only be relevant when the new concession contracts regulations come into force, probably in April 2016.
You can find the lower rates here