Patrons lunch told that Labour would tackle late payment
Bill Esterson MP, shadow minister for small business, has told the annual CIBSE Patrons lunch at the House of Lords that unsecured debts were crippling many SMEs in construction supply chains.
He attacked the current government’s record on enforcing late payment legislation and for its “lack of oversight and corporate governance” during the run up to the collapse of Carillion that has left up to 30,000 other businesses with financial problems.
“There is already legislation in place to ensure government clients pay their prime contractors within 30 days, but it also says they must make sure money due to sub-contractors is passed promptly onto the supply chain,” said Mr Esterson. “The sad fact is that many contractors will not get paid anything at all following [the collapse of] Carillion.”
At a Patrons meeting earlier in the day, the groups 2018 Arkwright Scholar, Holly Farrow, gave a presentation on how she had won her Arkwright scholarship, an update on her studies and her hopes for her future career.
Patrons Chair David Fitzpatrick on behalf of the group, wished Holly every success with her forthcoming exams and future plans.