I am acutely aware of the challenges that the construction industry has faced over the last two years in terms of material price inflation and supply chain disruption. In order to safeguard the delivery of key NDP projects, in January 2022, my department introduced measures to address inflation for new contracts and tenders. In the same month, the OGP introduced measures to address the impact that price increases in construction materials were having on public works tenders. For example, the fixed price period duration was reduced to 24 months (previously 30 months minimum). In addition, greater flexibility on Professional Indemnity Insurance was introduced to contracts in February 2022. Furthermore, in May 2022, a new set of measures to apportion additional inflation costs between the parties to public works contracts were introduced, with the State bearing up to 70 percent of the additional inflationary related costs.