Retentions

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Manifesto for the Built Environment supply chain

A future Government and Parliament should commit to three-points for a world-leading UK specialist engineering supply chain in the built environment: Bring legislation to protect all retention monies in a ring-fenced account, as first step towards zero retentions by 2025, and prioritise review of the ‘Construction Act’. From 2021 all publicly-funded built environment work over [...]

2017-05-05T17:13:04+00:00 2 May 2017|Articles, Press Statements|

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|