CBI releases Fine Margins construction report
Construction Minister Nadhim Zahawi, industry leaders and leading trade bodies including ECA were present this morning for the launch of the CBI ‘Fine Margins’ report.
Fine Margins looks in detail at how to ‘deliver financial stability’ to UK construction, and it includes recommendations for government, clients and construction businesses.
The report calls on government to issue public sector procurement guidance to prohibit the practice of holding retentions on public contracts by clients or by suppliers. NEC, JCT and PPC suites of contracts should be updated to specifically prohibit their use, it adds. Elsewhere, the CBI report recommends that public and private sector clients should refrain from amending standard risk clauses in construction contracts.
The full CBI report can be read here.