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CONSTRUCTION INDUSTRY NEWS
Late payers beware
T he government has with the new Fair Payment Code replacing the Prompt Payment Code. The Fair Payment Code will offer a graded status for businesses depending on how quickly they pay their suppliers and subcontractors, with: ● Gold for paying 95% of suppliers within 30 days ● Silver for paying 95% of small business suppliers within 30 days and all other suppliers within 60 days ● Bronze for paying 95% of suppliers within 60 days. announced renewed efforts to stamp out late payments to subcontractors and suppliers,
The pilot version of the UK Net Zero Carbon Buildings Standard (NZCBS) has been released for consultation. The NZCBS will enable the construction industry to prove that its built assets align with the UK’s carbon and energy budgets. What makes the Standard important is that it will give stakeholders a single, agreed methodology for defining what ‘net zero carbon’ means for buildings in the UK. There has been no such metric before. David Partridge, Chair of the Standard’s governance board, said: “The Standard brings together data from thousands of buildings submitted by professionals from across the built environment and will be an important step towards a net zero carbon economy. “I encourage everyone within the built environment and real estate sector, from investors, funds and lenders, through developers to building designers, managers and contractors, to start to use the pilot version of the Standard. We will shortly be launching a pilot testing programme to glean feedback on applying the process on real projects.” Passivhaus Trust Research and Policy Director Sarah Lewis said: “The Passivhaus Trust welcomes the UK NZBCS as a means for improving the clarity and rigour of net zero carbon definitions and as a step towards achieving higher performance building in the UK.” Net zero standard signed off
Prime Minister Keir Starmer said: “We’re determined to back small businesses by unlocking their barriers to growth, and stamping out late payments is at the heart of this. “We know how important it is for business owners to have the peace of mind and certainty around their cashflow to keep their businesses alive. Late payments cost businesses tens of thousands of pounds and is one of the biggest reasons businesses collapse. “After years of delay, we’re bringing forward measures that small businesses have long been calling for to tackle late payments once and for all.”
Prime Minister Keir Starmer
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