Construction
(asked on 5th January 2015) - View Source
Question
To ask the Secretary of State for Business, Innovation and Skills, what plans he has to address problems relating to retention monies and small businesses in the construction industry.
This question was answered on 8th January 2015
The issue of retentions is complex and is a symptom of a wider payment culture in the construction industry. Government is working with the industry to address this culture through the Construction Leadership Council, which has developed a payment charter which includes a commitment to zero retentions by 2025. Officials are meeting with organisations from across the construction supply chain to take this forward, as part of a wider discussion about payment reporting requirements.