Government bans retention payments, new homes to have solar panels and heat pumps from 2028 and the cost of London skyscrapers jumps 40%
The government has outlined a raft of new measures to tackle late payments to small businesses.
The proposals put forward include a ban on retention settlements in construction, and a cap on payment terms.
Under new laws the Small Business Commissioner will also be given powers to investigate, adjudicate and fine companies suspected of poor practices.
The FMB threw its weight behind the crackdown saying that small builders and tradespeople have been battling a culture of slow and unfair payment for years.
---
All new homes from 2028 will be required to have heat pumps and solar panels installed as part of the Future Homes Standard (FHS).
The changes will add an estimated £10,000 to the cost of the home for developers.
But over the long term it will bring down the cost of energy bills for customers.
Under the new measures ‘plug-in’ solar panels will also be made available in supermarkets that homeowners’ can self-install.
---
The cost of building London skyscrapers has jumped 40% in the last five years, claims a report from Turner & Townsend.
Bigger budgets are now required to cover regulatory changes, challenging trading conditions and rising material costs.
Despite the challenges, demand for high quality, sustainable office space remains strong.
---
To listen to the construction news please click below
