Construction Industry: Retention Payments Debate
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Earl of Kinnoull
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Construction Industry: Retention Payments
Earl of Kinnoull Excerpts(3 years, 3 months ago)
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Lord Callanan (Con)
A 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.
The Deputy Speaker (The Earl of Kinnoull) (Non-Afl)
My Lords, all supplementary questions have now been asked, and we move to the fourth Oral Question.