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Retentions reform bill delayed again

NIIB bank is essential

The second reading of the retentions reform bill has been delayed by a further four months.

The private members bill - known as the Aldous Bill after its founder Peter Aldous MP - was due to be read in the House of Commons today. However it has now been pushed back until 26 October. 

A spokesman for Aldous said the bill, which proposes a compulsory retentions deposit scheme to protect suppliers from insolvencies further up the chain, would not be heard today as the parliamentary calendar is too full.

The second reading was initially due to be heard on 27 April but was delayed until June. The two-month delay was described as a ‘‘shrewd strategic move’’ by industry leaders, who said it would give the campaign more time to drum up support and allow it to be heard on a less busy day. 

Carillion’s collapse into liquidation has put the issue of retentions in the spotlight. Following the construction giant’s collapse, trade bodies Build UK, the Civil Engineering Contractors Association and the Construction Products Association (CPA) urged the government to abolish retention payments, claiming that the failed contractor held an estimated £800M in retentions when it went bust.

The campaign continued to pick up pace as more than 100 MPs, including defence secretary Gavin Williamson, shadow chancellor John McDonnell, Liberal Democrat leader Vince Cable and Green Party leader Caroline Lucas backed retentions reform. 

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