Bill Esterson
Main Page: Bill Esterson (Labour - Sefton Central)Business Transactions: Cash Retentions
Bill Esterson Excerpts(8 years, 3 months ago)
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Bill Esterson (Sefton Central) (Lab)
I congratulate the hon. Gentleman on securing this debate. He mentioned subcontractors. May I quote to him a subcontractor in my constituency—Steve Murray, the managing director of W T Jenkins? He told me:
“Cash retention is harming our sector and our company in particular. We have to wait far too long for the retentions, if we receive them at all. We have lost a lot of revenue over the last five years due to many companies going into administration and taking our monies with them.”
On Monday in his office, Mr Murray showed me a shelf full of files about firms that owe him money, in some cases for more than eight, nine or even 10 years.
David Simpson
Again, I agree with the hon. Member. I could do exactly the same thing in my constituency and I am sure that other Members could do the same in their constituencies. This situation is unacceptable and we will address it as we go through the debate.