Construction Industry: Retention Payments Debate
Full Debate: Read Full DebateEarl of Kinnoull
Main Page: Earl of Kinnoull (Crossbench - Excepted Hereditary)Department Debates - View all Earl of Kinnoull's debates with the Department for Business, Energy and Industrial Strategy
(3 years, 7 months ago)
Lords ChamberA lot of discussions are taking place between the Government, the Construction Leadership Council and different parts of the industry; we are actively exploring possible solutions and are committed to improving payment practices and working with the construction industry to take this forward. Of course, any solution has to work for the industry and its clients, and it has to be sustainable, addressing all of the issues: the need for surety and fair, prompt payment. As I said earlier, several policy options are being considered, including a possible retention deposit scheme and, of course, phasing out retentions completely. During the current pandemic, the Government, in conjunction with the Construction Leadership Council, have provided guidance to the industry on responsible and fair contractual behaviour, which, of course, includes retentions.
My Lords, all supplementary questions have now been asked, and we move to the fourth Oral Question.