To ask His Majesty's Government what steps they are taking to introduce additional legislative measures to encourage large companies to pay their small and medium-sized enterprises (SME) suppliers promptly.
Answered on
27 July 2023
We are currently undertaking a Payment and Cash Flow review, examining how Government and others can continue to improve payment culture in the UK and ensure we are supporting small businesses effectively on late payments. The review included a public consultation of the Reporting on Payment Practices and Performance Regulations 2017 and the Limited Liability Partnerships (Reporting on Payment Practices and Performance) Regulations 2017 (the Regulations). Responses to the review and publication will be published later this year.