Main contractors could also be forced to publish figures on how long they take to pay their bills.

Labour MP Debbie Abrahams chaired the inquiry into late payment across all industries.

It found that construction was one of the worst industries for delaying the settling of bills.

The MPs now want to see a construction code of conduct implemented which is monitored by an independent adjudicator.

Retentions cash across all projects should also be held in trust.

Fair payment should also be written into contracts for Government work with tier one suppliers paid within 14 days, tier two contractors within 19 days and tier three contractors paid within 23 days.

Abrahams said: “Allowing a culture of late payment to go unchallenged is another executive-level decision that affects ordinary, hardworking, people across the country.”