Statement on new measures to protect small businesses from late payments

19 June 2019

The Department for Business, Energy and Industrial Strategy (BEIS) announced a new policy to ensure small businesses get paid on time.

BEIS released a press release this morning setting out new measures aimed at protecting smaller businesses from late payments. It proposes three main areas in which changes will occur:

  • New powers for Small Business Commissioner to tackle late payments, including fines and binding payment plans
  • Company boards will be held accountable for supply chain payment practices for first time
  • A new fund to encourage businesses to use technology to simplify invoicing, payment and credit management

The measures will apply largely to larger businesses, and aim to drive transparency and accountability.

Introducing the measures in the House of Commons, Parliamentary Under-Secretary, Kelly Tolhurst said;

"The response to the call for evidence and the package of measures that I'm announcing today will tackle the continued issue of late payments and ensure that this happens."

Responding for the Opposition, Shadow Minister Bill Esterson said;

"In broadly welcoming these measures, I hope that the Government's delivery matches the rhetoric."

Image: Pexels

Follow the @HouseofCommons on Twitter for updates on the UK House of Commons Chamber.

Please fill in our quick feedback survey to help us improve our news content.

More news on: Parliament, government and politics, Parliament, Business, industry and consumers, Business support, Small businesses, House of Commons news, Commons news

Share this page

Related information

  • What are statements?

    Government Ministers may make oral statements to Parliament which usually address major incidents, government policies or actions. These take place after Oral Questions and any granted Urgent Questions. Written statements are normally used to put the day-to-day business of government on the official record and in the public domain.

  • How to watch proceedings from the public gallery

    UK residents and overseas visitors can watch proceedings in the House of Commons by visiting the public gallery.

More Parliament news