Tag : MP Peter Aldous
BESA has said that more than 60 construction and maintenance trade bodies have now lent their support to the Construction (Retention Deposit Schemes) Bill that was introduced to parliament in January as a means to reform payment within the construction supply chain.
BESA and the ECA hope to step up pressure on the government to overhaul cash retentions by calling for the introduction of mandatory third-party deposit schemes in a joint response to a recent consultation.
The construction industry has reacted to Carillion’s liquidation today by calling for further government commitments to guarantee prompt and transparent payment mechanisms for contractors.
MP Peter Aldous has presented the first reading of the Construction (Retention Deposit Schemes) Bill in parliament today that seeks to amend existing regulation to put a statutory obligation on any group withholding cash retentions to use an approved deposit scheme.
A new bill mandating that all cash retentions from construction work are held in deposit protection schemes receives its first reading in parliament today.