MP raises issue of cash retentions within the construction industry in Parliament
Local MP Douglas Ross has questioned the UK Government about when they are going to deal with the issue of cash retentions which is causing concern for local businesses involved in the construction industry.
Commenting after raising the issue in the House of Commons today, Douglas said: “A local Moray firm raised concerns with me about the issue of cash retentions and late payments which I know is a problem across the construction industry in Scotland and the UK. This has recently been raised with me by the Scottish Regional Chairman of the British Constructional Steelwork Association and I was pleased to have the opportunity to question Ministers on this in the House.
“This is something that needs to be addressed to alleviate the problems for small companies whose livelihood may be at risk from this unfair practice and I am glad that the Minister has said that the Government is seeking to mitigate this unacceptable state of affairs.
“Withholding monies owed or late payment of retention monies can cost jobs and put companies at risk. These small firms are crucial to Moray and anything that puts their business at risk in this way has to be challenged.
“I welcome the response by the Minister, who confirmed that the government is considering the review on retentions with outcomes due to come from that report.”
“He added: “I will continue to press Ministers on this issue until we get the solutions local firms and the construction industry deserve.”