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.
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