Heating and Ventilating

 

SEC Group calls for action on insolvencies

In the wake of the recent insolvency statistics published by ONS, the Specialist Engineering Contractors’ (SEC) Group has called for urgent action on measures to tighten payment security.

Over the 12 months ending in the first quarter of this year, there were 3,013 company insolvencies in the industry – the highest for any sector in the UK.

SEC Group’s chief executive, Professor Rudi Klein, said these figures were alarming: “Insolvencies in the industry are running at their highest rate since the recession. Whilst some can be put down to the continuing fall-out from Carillion’s demise, many are the result of worsening cashflow and widespread payment abuse.”

He added: “I’m disappointed that, after almost 18 months following the Carillion collapse, we are still waiting for decisive action on payment.”

SEC Group has been promoting two Private Members’ Bills in the House of Commons to improve construction payment security – the Construction (Retention Deposit Schemes) Bill laid by Waveney MP Peter Aldous and the Public Sector Supply Chains (Project Bank Accounts) Bill laid by Debbie Abrahams, MP for Oldham and Saddleworth.

The Aldous Bill will ensure that retention monies are protected in a ring-fenced scheme. The Abrahams Bill required that all payments on public sector projects would be made to the supply chain directly from one ring-fenced account, without the monies having to cascade through the different layers of contracting.

SEC Group intends to pursue these measures through to the next session of Parliament.

2 May 2019

Comments

Already Registered?
Login
Not Yet Registered?
Register

GDHV’s new training academy hits the mark for Aster

With its commitment to helping installers stay ahead of industry trends, Glen Dimplex Heating & Ventilation’s (GDHV) new Training Academy recently proved its worth to more than 50 engineers working on behalf of Aster Group....

  15-Nov-2019

National Grid upgrade from Armstrong Fluid Technology

A recent energy upgrade carried out by Armstrong Fluid Technology for the National Grid in Solihull, UK, reduced pump energy consumption by more than a third....

  13-Nov-2019

Gastite CSST

A wide range of CSST, fittings and accessories are available for projects both large and small. Suitable for all three family gases, the CSST range includes sizes DN15 to DN50 in a choice of lengths. Custom lengths are available for large/multi-family projects. Contractor kits, which include a length of CSST, and two male fittings are also available. Gastite® high-performance XR2™ fittings have a patented Jacket-Lock® fitting which eliminates exposed steel beyond the nut. The range includes male and female fittings, tees, copper compression fittings and couplings. Accessories designed to make installation even easier are also available and include; cutters, utility knives and jacket repair tape.
  27-Sep-2019
Heating & Ventilating Review is the number one magazine in the HVAR industry. Don’t miss out, subscribe today!
Subcribe to HVR

Diary

SkillFRIDGE Final
FETA Annual Lunch
https://www.heatingandventilating.net/sec-group-calls-for-action-on-insolvencies