The Construction Industry is one of the UK’s biggest industries and is often referred to as being a pillar of the UK economy. Statistics demonstrate that it accounts for nearly 9% of the National Gross Value Added. Consequently it continues to remain of high importance upon the Government’s legislative agenda. The DTI has recently launched the second joint consultation with the Welsh Assembly Government to amend Part II of the Housing Grants Construction and Regeneration Act 1996 (HGCRA) and Scheme for Construction Contracts (England and Wales) Regulations 1998.
The initial consultation document assembled by the DTI and Welsh Assembly Government was issued on 22nd March 2005. The given proposals were a consequence of a review carried out by Sir Michael Latham who reviewed the operation of Part II of the Act. His review was announced in the midst of the 2004 budget and subsequently his views went on to provide an enormous incentive for the given proposals.
