Building problems

Alan Heath
18-09-2002, 00:00

Government plans to reform the construction industry could swiftly run into difficulties, heaping new problems onto investors. One major change is that the deficiencies of poor subcontractors will now have to be made good by the investor and in many cases that will be the taxpayer. The past couple of years has seen a wave of subcontractors go bankrupt largely due to cash flow difficulties created by non payment. The new law gives them protection and if they are not paid by the general contractor then this debt will have to met by the investor. It could be that the investor failed to pay the general contractor but the reverse could also be the case and the investor could end up meeting the bill twice.

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