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In our second major analysis of industry payment-practice reports, Megan Kelly delves into the government data to identify the best and worst payers in the sector. We also look beyond the headline figures to uncover the often complex reasons why some companies appear able to settle their debts more swiftly than others Slow payment has long plagued construction. It comes as no surprise to learn that, in 2020, amid a global pandemic, a national shutdown, and with many companies struggling for cash, poor payment practices have again come to the fore. According to Construction News’s latest analysis of government payment data, most of which was collected after the first lockdown was enforced in March 2020, many must still wait well beyond 30 days to receive payment. Adding to cashflow challenges, nearly a third of all payments breached agreed terms, typically meaning a commitment to pay by some other deadline beyond 30 days was also missed. ....
HS2 ‘sheriffs’ to keep contractors in check HS2 Ltd is to deploy 13 senior leaders along the line’s Phase One route between London and the West Midlands to ensure that its contractors comply with assurances it and the Department for Transport have made. HS2 Ltd chief executive Mark Thurston revealed that the roles have been created to ensure better alignment between HS2 Ltd’s construction pledges and its contractors’ actions. The announcement was made at a government cross-party transport select committee meeting in which MPs, local councillors and senior environmental figures called for independent “sheriffs” to ensure contractors working on HS2 are kept in check. ....