Tag : Carillion
BESA will hold its second annual conference in London on November 1 with payment reform, Brexit and the technical implications of the soon to be published findings of a major review of building regulations expected to dominate proceedings.
Business secretary Greg Clark has welcomed commitments from several banks to support small businesses facing financial difficulties as a result of the collapse of Carillion earlier this week as specialist contractors seek to assess longer-term impacts on their operations.
With a second reading of a bill that would make it mandatory to hold retentions in third party schemes set for October, the industry body expects further support from MPs to push for change
The UK government is being urged by a key building services body to immediately introduce legislation to tackle the practice of late payments within the construction supply chain, rather than delaying potential reforms in favour of voluntary commitments or further consultations.
BESA has claimed that over 100 MPs have now expressed support for efforts to ring-fence cash retentions. The claims have been made as the organisation seeks to push regulatory reforms through parliament that would mandate the use of third party deposit schemes.
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.
Build UK is seeking to introduce a “zero retentions” policy throughout the construction supply chain within seven years as a key policy priority to improve trust in the industry and its practices.
Over a quarter of 316 engineering services firms surveyed on their financial performance have reported a fall in turnover during the first quarter of 2018, the highest falls of its kind in two years. The findings reflect the impact of adverse weather conditions and the fall of Carillion earlier this year.
Almost nine out of ten local councils in the UK are failing to pay companies for construction work within the legally required 30-day period, according to findings from BESA and the ECA.
Engineering services firms providing gas, fire, heating and ventilation services are owed roughly £75m from construction and services giant Carillion, which formally announced its liquidation last week.