CIPHE has joined with the Building Engineering Services Association and over 50 other supporting bodies alongside more than 100 cross-party MPs in supporting Peter Aldous MP's parliamentary bill designed to reform the practice of payment retentions in the construction industry.
Kevin Wellman, CEO, explains why the CIPHE is supporting this bill led by the Building Engineering Services Association (BESA) and Peter Aldous MP.
"It is currently estimated that Carillion collapsed holding retentions payments of over £800m owed to sub-contractors. With growing fears that this money will now never find its way back to those sub-contractors, there is a significant risk that well run SME's will face difficulties through no fault of their own. It is clear that businesses need to be better protected from the failure of other companies involved in the supply chain. Businesses being affected in this way is ultimately detrimental to the consumer."