By 2020, almost £20bn of Highways Agency construction will have been paid through project bank accounts - ensuring that all payments are routed directly to firms in the supply chain.
As a result, Tier 3 contractors are being paid within 14 days of the due payment dates in their Tier 1 contracts.
Specialist Engineering Contractors’ (SEC) Group chief executive Professor Rudi Klein said: “If the Highways Agency can achieve this, why can’t every public-sector body achieve the same?
“The agency’s achievements are in stark contrast to the picture painted by the National Audit Office in January this year, which concluded that government departments had made little progress in improving payment performance in the supply chain.”
The SEC Group intends to highlight poor payment practices during the general election campaign.
H&V News launched its Time for Change campaign in late 2014 to force a parliamentary debate about the issue of placing retention money into trust.
H&V News invites everyone involved with the industry to sign the petition, including individuals, companies and organisations of all description.