The European Commission has recently revised the financial thresholds above which public procurement rules apply with these changes applying to the current EU Directives from 1 January 2016.

This means that the thresholds applicable to contracts regulated by the Public Contracts Regulations 2015 will change on 1 January 2016 and that the new thresholds will apply to the Utilities Contracts Regulations 2016 and Concessions Contracts Regulations 2016 when they come into force, which is intended to be on 18 April 2016.

Whilst the thresholds in Euros have increased the impact of conversion rates for Members States outside the Euro-zone means that the values in pounds sterling are actually decreasing – just as they also did in January 2014.

To help you follow the new thresholds please click here to view a table comparing the old with the new.