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The government delivered 拢1.4bn of work through project bank accounts through the first half of the financial year putting it on track to achieve its target of 拢2bn delivered through the system this year.

Government figures show that over the six months from April 2012,  拢1.4bn of work has been delivered through project bank accounts, a system where clients make payments into a single bank account and all contractors draw their payments from it.

The system is designed to ease cash flow in the supply chain.

The government is committed to delivering 拢4bn of construction work through project bank accounts by 2014.

Cabinet minister Chlo毛 Smith said 鈥渢imely cash flow鈥� was 鈥渃ritical to the survival of many contractors in the supply chain鈥�.

She added: 鈥淚 know it鈥檚 a real problem for companies, in particular smaller businesses, when they have to waste time and run around chasing payments for projects they鈥檙e working on.

David Smith, ecology and landscapes director at Middlemarch Environmental, which is working on the A11, where a project bank account is in place, said the system made it quicker and easier to invoice for work.

He added: 鈥淚t has helped with cash flow and reduced late payments, which is so important for a small organisation like us.鈥�