Peter Aldous
The long-delayed second reading of the Aldous Bill, which aims to protect construction subcontractors by holding cash retentions in third party account, has been moved to 8 March.
The Bill was put forward by Conservative MP Peter Aldous following the collapse last year of Carillion.
The news came as supporters, the Electrical Contractors Association (ECA) and Building Engineering Services Association (BESA), claimed that the chairs of 15 select committees from the four largest political parties, including Nicky Morgan, chair of the Treasury Committee, Yvette Cooper, chair of the Home Affairs Committee, and Rachel Reeves, chair of the BEIS Committee, now back the Bill.
ECA deputy director of business policy and practice Rob Driscoll said: “This level of support from the most senior politicians in the country highlights the significance of this issue, and importantly shows that there is a ready-made solution available. ECA and BESA will continue to work with government to press for legislation on retentions.”
BESA head of legal and commercial Debbie Petford added: “A year after the collapse of Carillion, its catastrophic impact is still being felt by many small companies all over the UK. We welcome this vast level of cross-party support which highlights the continuing importance of a legislative solution to the issue of retentions.”
The ECA and BESA claim cross-party parliamentary support for retentions reform now stands at over 270 MPs and is also backed by a coalition of around 85 trade associations and professional bodies.
