NFRC’s campaign to end retentions
We were pleased to have confirmed that the work we started a year ago on ending retentions is being supported by the new Government and Business Ministers.
In the House of Lords last Tuesday, Lord Aberdare asked what plans the Government have to end the practice of cash retentions in the construction sector.
Baroness Jones of Whitchurch, Business and Trade Minister responded, confirming an amendment to the Reporting on Payment Practices and Performance Regulations 2017.
From the beginning of 2025, this will require firms to report on their retention policies and provide key metrics. She advised of their intention to implement this legislation this year. She also stated that the government will consider whether further action on retentions is needed to deliver their manifesto commitment to tackle late payment.
We are most grateful to the campaigning work that Lord Aberdare and others who continue to champion on ending retentions and overall fair payment for the skilled trades.
View the full extract from Hansard HL deb 10th September, vol 839, col WA1494
