Dr Dan Poulter was today pleased to support neighbouring Suffolk MP, Peter Aldous as he introduced his Ten Minute Rule bill to the House of Commons concerning the ring fencing of cash retentions for Small and Medium Enterprises (SMEs) in the construction industry.
Research commissioned by the Department for Business, Energy & Industrial Strategy (BEIS) revealed that over a 3-year period £7.8bn worth of retentions was outstanding for small businesses. Cash retentions are withheld as security in case a firm fails to return to rectify non-compliant work. However the monies are primarily withheld to bolster the working capital of the party withholding them. Furthermore the practice gives rise to widespread abuse with the monies being withheld for three and more years.
If successul, this Bill would secure and release on time these retentions by way of a deposit scheme.
Here in Suffolk, and across the UK, SMEs are the backbone of our economy and Dr Dan was pleased to work with Mr Aldous to hopefully bring about this change in legislation, which will ensure greater support and protection for small businesses in the construction industry.
The bill passed its first reading stage and will now have its second reading on Friday 27th April 2018.
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Parental Leave for Parents of Premature Babies — [Mark Pritchard in the Chair] (13 Nov 2018)
Daniel Poulter: One of the issues that I hope the Government will look at in the review is the voluntary conduct of employers and whether they want to support additional leave for parents of premature babies. We must remember that a baby could be born at 24 weeks, which is many months before its due date. The problem with voluntary codes is that, although some employers might be exemplars, many might not be....
Written Answers — Department for Work and Pensions: Unemployment: Suffolk (9 Nov 2018)
Daniel Poulter: To ask the Secretary of State for Work and Pensions, what the level of youth unemployment was in Suffolk in (a) May 2010 and (b) May 2018.