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Public Procurement (Agreement on Government Procurement) (Thresholds) (Amendment) Regulations 2021

The Public Procurement (Agreement on Government Procurement) (Thresholds) (Amendment) Regulations 2021 was recently announced by the UK government. This amendment to the existing regulations will have significant implications for public procurement processes and procedures in the country.

The agreement on government procurement is an international agreement between 47 countries that aims to create fair competition in government procurement processes. The thresholds set out in the agreement specify the minimum value of contracts that are subject to the agreement`s regulations.

Under the new regulations, the threshold values for public procurement contracts will be revised. The biggest change is the increase in the threshold for contracts subject to the World Trade Organization`s agreement on government procurement. This threshold applies to contracts that the UK government awards to foreign companies.

From 1 January 2022, the threshold value for these contracts will increase from £122,976 to £142,893. This increase is intended to simplify the procurement process for smaller contracts and reduce the administrative burden on public authorities.

In addition to this change, the UK government has also increased the thresholds for the Utilities Contracts Regulations and Concession Contracts Regulations. The thresholds for these contracts will increase to £4,733,252 and £4,551,413, respectively.

These changes to the threshold values will have practical implications for all public authorities that are subject to the regulations. It will require public authorities to re-evaluate their procurement processes and procedures to ensure they are compliant with the new thresholds.

Public authorities will also need to ensure that they are aware of the changes and that they are implemented in a timely manner. Failure to comply with the regulations can result in legal action and financial penalties.

In conclusion, the Public Procurement (Agreement on Government Procurement) (Thresholds) (Amendment) Regulations 2021 is an important amendment to the existing regulations. It will have significant implications for public procurement processes and procedures in the UK. Public authorities should ensure that they are aware of the changes and that they are implemented as required to avoid any legal issues or financial penalties.