The backing comes alongside an unprecedented coalition of over 80 industry bodies and trade associations, representing over 580,000 businesses and sole traders. This is the largest fair payments campaign ever formed in the UK.
Following the collapse of Carillion in January, the Aldous Bill has drawn endorsement from big political hitters, including MPs John McDonnell, Ken Clarke and Sir Vince Cable. While the bill has secured broad cross-party support, Labour (96) and Conservatives (76) make up the majority of parliamentary support.
Peter Aldous MP said: “I am very encouraged by the support that 200 colleagues across the House have indicated for my Bill and the construction industry; it is an important milestone to have reached. There is more work to be done in persuading government to adopt the bill, but I am confident that vital momentum is being gained, showing the appetite within Parliament for the Aldous Bill to succeed.”
Maria Caulfield MP, the 200th MP to pledge support, said: “I am very pleased to be the 200th MP supporting Peter and the ‘Aldous Bill.’ I have constituents that were impacted by Carillion. Even my father and my husband work in the building trade, so I am all too aware of late payment and the issues with cash retentions. Reforming cash retentions will protect thousands of small businesses and help industry meet the needs of the public, and I am fully behind it.”
Mr Aldous introduced his Bill to put retentions in secure deposit schemes six days before Carillion collapsed, and its second reading is due to take place after the party conference season, on 26 October.