Written question WQ83072
- Asked by
- Rhys ab OwenPlaid
- To be answered by
- Minister for Economy
- Tabled
- Due
- Answered
- Time to answer
- 6 days
Question
What consideration has the Minister given to the establishment of a short-life government/industry working group to develop the outlines of a legislative solution to help small construction firms in Wales with the lack of protection of retention monies?
Answer
Answered by Minister for Economy
In 2020 we convened a Ministerial led Construction Forum with 30+ representative groups. The Forum’s ‘Payments’ Group has been focusing on Project Bank Accounts (and associated documentation) which help supply chain payments.
However, insolvency law is a reserved matter and therefore the Welsh Government cannot intervene in any contractual arrangement between individual parties.