Builders shy from prompt payment code
Published: 13 March, 2013
Costain has signed up to the Government’s Prompt Payment Code, but Berkeley Group is the only stock-market-quoted volume house builder to sign up.
Barratt Developments, Bellway, Bovis Homes, Galliford Try, Redrow and Taylor Wimpey are all named and shamed in official lists. Construction minister Michael Fallon wrote to major public construction companies last November warning he would name and shame leading companies not signed up to the voluntary payment code.
The move saw a spate of sign-ups, including Carillion and Laing O’Rourke prior to the list being made public. Yesterday Costain’s name was added to the list of firms committed to paying their suppliers within clearly defined terms.