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Government plays up efforts in tackling construction cashflow fears
2017/09/14
12 September, 2017
Specialist Engineering Contractors’ (SEC) Group calls for fresh legislation to guarantee prompt payments for public and private sector work
 
The government has said it is committed to driving up use of project-specific bank accounts when procuring construction services for public sector projects amidst warnings over cash flow concerns facing engineering contractors.
 
The claims have been made as a contractor body representing specialist engineers such as those working in the heating and cooling industries has urged Whitehall to help introduce new legislation to tackle delayed and late payments. This would include mandating 30-day payments to contractors for services provided, as well as ensuring project-specific bank accounts are in place for all public sector work to aid small and medium-size enterprises (SMEs).
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