MPs call for mandated 30-day payment terms

By Jordan Marshall2018-12-06T06:00:00

Report also suggested retentions should be replaced with independently managed project accounts

MPs from the business committee have called for the government to make it a statutory requirement for companies to pay their suppliers within 30 days.

The committee, led by Labour MP Rachel Reeves, singled out the construction sector as a particularly poor performer.

In their own words the MPs said they had “identified the construction industry as a sector where poor payment practices are rife, as highlighted by Carillion’s woeful treatment of its suppliers”.

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