Brexit and the future of procurement

‘Brexit’ and the upcoming EU referendum is at the forefront of many minds, media channels and organisations and will no doubt continue to be long after the vote on 23^rd June. Many businesses are awaiting the result before making any plans or changes to their organisation, unaware of how the vote will truly affect them.

As we know, the UK is governed by a heavily regulated EU procurement regime which is unlikely to change much in the immediate event of a ‘Brexit’. An independent UK could even continue to look to the EU directives and voluntarily adopt new policies and legislation changes.

Brexit and Procurement

However, the UK could go on to become a European Free Trade Association (EFTA) member and join the European Economic Area (EEA). If an independent UK then became an EFTA member we would still be required to comply with the current EU directives but have no real influence in the discussion surrounding the rules and would be powerless to improve or amend them going forward.

Other speculation is that the UK could follow suit of Switzerland and become a member of the EFTA without remaining in the EU or EEA which would mean the UK would not be bound by the EU procurement regime.

In the run-up to the referendum, speculation will increase and uncertainty of how the result will impact procurement as well as organisations and individuals all over the UK will remain. It is likely that the effects will be minimal in the short and mid-term however the longer term could be a different story.

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