Direct payment or bust

摘要

The analysts have forecast a slowdown for construction, so it might be time to take another look at the provisions for direct payment to subcontractors in the event of insolvency. A downturn in the industry is one of a barrage of gloomy pre-millennial predictions that 1999 has brought with it. As reported in Building (8 January, pages 22-24), the best hope for this year is 1% growth. At worst, output will shrink 1.5%. While keeping my fingers crossed that the industry does not head in this direction, my thoughts inevitably turn to the sort of legal problems that arise during or immediately after a period of recession.