Tag : project bank accounts
Government threats to proceed with a ‘no deal’ Brexit on 31 October would be potentially “horrendous” for the HVAC sector, broader business and people dependent on their success if realised, a key industry body has warned.
Amendments to the role of the UK small business commissioner to penalise late payments and improve transparency within supply chains will be the subject of an upcoming government consultation.
The Specialist Engineering Contractors’ (SEC) Group has backed proposed legislation introduced to parliament this week that would require government and other public sector contracts to make use of project bank accounts.
The Specialist Engineering Contractors’ (SEC) Group has said commitments by chancellor Phillip Hammond to issue a call for evidence over tackling the issue of late payments will be cautiously welcomed in the construction industry.
The Welsh Government will mandate from January 1 that project bank accounts (PBAs) are used for building projects valued at over £2m and that are procured by any of the devolved authority’s bodies.