On 22 November 2023, Chancellor Jeremy Hunt presented…
New procurement rules have become law, following the Royal Assent of the Procurement Act.
The new rules are one of the largest shake ups to procurement rules in this country’s history.
The Act establishes a new public procurement regime following the UK’s exit from the EU and aims to create a simpler and more transparent system that delivers better value for money, reducing costs for business and the public sector.
The new regime will deliver simpler, more effective public sector procurement, and help small and medium-sized enterprises (SMEs) secure a greater share of approximately £300bn of expenditure per year.
The new rules will aim to protect against national security risks in public contracts.
Significant new powers will enable high-risk suppliers to be put on a public debarment list and be prevented from bidding for some categories of goods or services, such as areas related to defence and national security, while allowing them to continue to bid for contracts in non-sensitive areas.
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