To ask the Secretary of State for Business and Trade, with reference to his Department's consultation entitled Retention payments in the construction industry, published on 24 October 2017, if he will make an assessment of the potential merits of introducing the policies proposed in that consultation.
Answered on
23 July 2024
Small businesses are essential to our economic success.
This Government is committed to take action on late payments to ensure small businesses and the self-employed are paid on time. The practice of cash retentions can create problems for contractors in the construction supply chain, due to late and non-payment. Any policy solution must be a sustainable one that works for the industry.