Mainzeal

Labour tries to turn back clock 26 years

Labour really are blessed with a special kind of stupid. Now they are trying to wind back the clock:

Labour is pushing for a new system to protect sub-contractors from collapses such as Mainzeal – 26 years after a Labour government axed laws that gave that very protection.

David Shearer says he wants to create a system where a trust holds payments owed to subbies, which would be ringfenced if a company shut down. At the moment big construction companies hold all money themselves and if they go belly up, the money is lost.  Read more »