Written questions, answers and statements

Small Businesses: Billing

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Question for Department for Business, Innovation and Skills

UIN 908351, tabled on 23 March 2015

Question

Dr Matthew Offord
Conservative
Hendon
Commons

To ask the Secretary of State for Business, Innovation and Skills, what steps he is taking to tackle late payment to small businesses.

Answer

Matthew Hancock
Conservative
West Suffolk
Commons

Answered on

26 March 2015

We have taken unprecedented step to bring transparency to late payment, and I can tell the House I have written to all signatories to the Prompt Payment Code to set out the new requirements of a 30 day payment term as the norm, with a 60 day maximum. And we have legislated to require 30 day payment terms to be mandated down entire supply chains for public sector work.

Answered by

Department for Business, Innovation and Skills
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