The Procurement Act 2023 updates the current UK’s public procurement laws after exiting the EU. The intention is to increase efficiency, transparency, and support for small businesses. Key features include the establishment of a central digital platform for supplier registration, intending to streamline procurement processes.
The Act introduces a flexible procurement procedure, enabling contracting authorities to tailor it’s processes to their specific needs. The bill mandates greater transparency meaning public sector organisations have to publishing notices and performance indicators throughout the procurement and contract lifecycle. This will give bidders greater insight into the needs and wants of the client. Additionally, the Act includes provisions for excluding suppliers based on poor performance.
These changes aim to create a more competitive and fair public procurement environment.