Since the late 1990s the Late Payment of Commercial Debts (Interest) Act 1998 (later amended and widened in 2002) (Act) allowed any party who had not been paid in the time to also be paid interest on the money not paid. A statutory rate of interest was to be paid unless the contract itself also provided for a “substantial remedy”.

In April 2010, the Carbon Reduction Commitment Energy Efficiency Scheme (CRC) came into force. The CRC is a statutory scheme that all those involved in the Construction and Property industry should be aware of, not least as it is a part of the government's target to cut emissions by 80% by 2050. To put the CRC into context, the Carbon Trust has recently stated that buildings and construction methods cause some of the worst pollution and that targets should be set to reduce emissions.

The construction works for the 2012 Olympic Games are currently underway. Contractors, designers and CDM Co-ordinators should expect stringent health and safety requirements on any projects commissioned by the ODA. The Olympic Development Authority (ODA) has taken full responsibility for setting key performance indicators (KPIs) in its health and safety and environment standard, which will be mandatory for all projects commissions by the ODA. As a result, Contractors should expect to comply, not just with existing Health and Safety law, but any additional requirements set by the ODA.