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That this House applauds the moves now under way in the public sector to abolish the much abused system of cash retentions in the construction industry, which over many years has operated to the detriment of the profitability and competitiveness of the vast majority of firms in the industry, especially small businesses; believes that the system should not be perpetuated by public sector procurers who are committed to being best practice clients of the construction industry; urges the Chief Secretary to the Treasury, in conjunction with the Office of Government Commerce, to announce a programme for the phasing out of the retention system in respect of construction works procured by central government clients; and calls for the Secretary of State for the Environment, Transport and the Regions to issue a circular to local authorities in England and Wales advising local authorities to refrain from demanding retentions on all new contracts for construction works that are left following a date to be agreed between the Secretary of State and the Local Government Association.
Total number of signatures: 114
Showing 114 out of 114