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It’s definitely time for change

We need 100,000 signatures to support the H&V News Time for Change campaign to ensure retention funds in construction industry contracts are held in protective trusts in future.

There were many contributing factors leading to the launch of the campaign, including our industry survey on retentions in early 2013 and many conversations with contacts in recent years.

Martin Burton’s interview also provides many compelling arguments for this (see pages 21-22 of our 19 November issue).

Timing was another consideration, with everyone contacted agreeing that the industry’s emergence from recession was the best time to launch Time for Change to address issues such as retentions, which have been present for several decades.

The thinking behind this is that improving conditions will create a more positive atmosphere that will allow companies and individuals to plan ahead with confidence.

If we can address issues such as retentions and drive improvements in the system, this will provide more security and deliver benefits throughout the entire industry - such as reducing the effects of economic ups and downs in the years ahead.

With many companies reporting the loss of retention funds through no fault of their own,protecting this money will overcome many of the issues that currently lead to disagreements and even litigation in some cases.

Please feel free to engage with all areas of the H&V News brand to help us reach 100,000 signatures as soon as possible.

Readers' comments (1)

  • Agree that improvements to the process are needed for a fair and more robust system

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