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MPs question Government over cash retentions

SNP MP Stuart C. McDonald has urged the Government to reveal how they are going to deal with cash retentions, an issue affecting the livelihood of small firms in the construction industry. The Member for Cumbernauld, Kilsyth and Kirkintilloch East yesterday (27/06/2017) questioned the Department of Business Energy and Industrial Strategy: “What the Government’s policy [...]

2017-07-07T15:43:58+00:00 29 June 2017|Articles, Press Statements|

Help us gather evidence of late payment in Scotland

The Specialist Engineering Contractors' Group (SECG) Scotland recently met with Paul Wheelhouse MSP, Minister for Business, Innovation and Energy, to discuss the issue of payment abuse. Following the meeting, the Minister expressed interest in payment security legislation for construction (possibly involving 30 day payments and protection for retention monies) and is keen to obtain examples of payment abuse. [...]

Over £1bn cash retentions held from UK top construction companies: SMEs mainly at risk

An analysis of the accounts of the UK’s top 12 construction companies has revealed that the 9 which published separate figures for retentions are owed more than £800m, indicating that the 12 together are owed over £1 billion of cash retentions.  The analysis was carried out for leading construction representative body, the Specialist Engineering Contractors’ [...]

2017-02-16T17:47:47+00:00 16 February 2017|Articles, Press Statements|