Rob Driscoll, Director of Legal & Policy at the Electrical Contractors’ Association (ECA), is on the latest episode of the Construction News’ podcast, talking about the Government’s announcement in March which proposes a ban on retentions in construction contracts.
The episode in the ‘First Site’ podcast series looks at the proposed ban and the wider package of measures aimed at tackling late payments across the UK economy as a whole, which the government says forces 38 small business to the wall every day.
In construction, banning retentions might protect smaller firms from losing money when contractors further up the supply chain won’t pay or become insolvent. But for some, retentions are a vital tool that incentivise contractors to meet their obligations, especially when it comes to the quality of a build and correcting any defects.
Last updated 05 May 26