Monthly Archives: December 2017

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Construction industry applause for Welsh Government’s announcement on Project Bank Accounts

The announcement by Cabinet Secretary for Finance, Mark Drakeford AM, that as from 1 January 2018, project bank accounts (PBAs) will be used on building projects over £2 million (procured by Welsh Government bodies) has received praise from the Specialist Engineering Contractors’ (SEC) Group Wales/Cymru. SEC Group Wales represents the largest sector (by value) in [...]

2017-12-07T11:49:58+00:00 7 December 2017|Articles, Newsletters, Press Statements, Wales Press Releases|

Construction industry financial crisis: Private Member’s Bill to ring-fence cash retention

The UK construction industry’s financial crisis- with some large contractors in severe financial distress – has prompted a Conservative MP to act. Peter Aldous, MP for Waveney, has laid a Private Member’s Bill to protect the billions of pounds of cash retentions withheld from construction SMEs.  The Bill’s first Reading will be on 9 January [...]

2017-12-05T12:27:30+00:00 5 December 2017|Articles, Press Statements|