Let’s act now on retentions

By Rudi Klein2020-03-11T06:00:00

Having finally published the responses to its payment practice consultation after two years, the government is still stalling

Let’s consider a bit of recent history. In October 2015 a Specialist Engineering Contractors’ Group-inspired amendment (laid by Lord Aberdare in the House of Lords) to the (then) Enterprise Bill prompted the government to announce a review of the practice of retentions. The review, carried out by consultant Pye Tait, recommended that a statutory retention deposit scheme (RDS) was the most viable option for eliminating some of the critical issues associated with retentions. It was published alongside a consultation document. The consultation closed in January 2018.

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