The Government has announced a significant change in procurement law by implementing the new Procurement Act 2023, which will go live on October 28th, 2024. 

This change is the most significant in nearly two decades and aims to create a more straightforward and flexible commercial system for public procurement. The new Act will provide SMEs with new opportunities and ensure taxpayers receive value for money. The changes include:

•   Bringing all current procurement rules under a single umbrella.
•   Introducing a new single ‘competitive tendering’ procedure that will provide more opportunities for companies to bid for contracts.
•   Embedding new overarching procurement principles into the lifetime of a public contract.

These principles will ensure that all contracts deliver value for money, maximize public benefit, promote transparency, and prioritize integrity. 

The government has also introduced a new Central Digital Platform to publish all relevant notices and manage supplier information. This platform will ensure that suppliers have more information at the contract award stage on why their bid was unsuccessful and why the successful supplier won. 

Suppliers and contracting authorities must start preparing by taking advantage of the knowledge drops, training, and guidance materials available on the government’s website. Please click this link, Transforming Public Procurement, to find out more.

Although the existing procurement regime will apply to tenders initiated before the 28th of October 2024, the new Act will bring significant changes to the procurement process, which is why it is crucial to be prepared for these changes and to be able to take full advantage of the opportunities that the new Act will provide.

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