Tag : BESA
The building services industry is calling on Chancellor Philip Hammond in his upcoming budget to make clear commitments to enforce prompt payments and reform current cash retentions policy in order to protect SMEs in the sector.
BESA has appointed its head of sustainability David Frise as chief executive in a bid to build on its work in providing technical output and support, while also pushing new training initiatives.
BESA has said that more than 60 construction and maintenance trade bodies have now lent their support to the Construction (Retention Deposit Schemes) Bill that was introduced to parliament in January as a means to reform payment within the construction supply chain.
BESA and the ECA hope to step up pressure on the government to overhaul cash retentions by calling for the introduction of mandatory third-party deposit schemes in a joint response to a recent consultation.
Business secretary Greg Clark has welcomed commitments from several banks to support small businesses facing financial difficulties as a result of the collapse of Carillion earlier this week as specialist contractors seek to assess longer-term impacts on their operations.
Uncertainty remains over the future financial stability of a significant number of SMEs and contractors in Carillion’s supply chain following yesterday’s announcement of the liquidation of the construction and services giant.
MP Peter Aldous has presented the first reading of the Construction (Retention Deposit Schemes) Bill in parliament today that seeks to amend existing regulation to put a statutory obligation on any group withholding cash retentions to use an approved deposit scheme.