To ask the Secretary of State for Business, Energy and Industrial Strategy, with reference to page seven of the Government's response to the paper entitled, Creating a responsible payment culture: a call for evidence on tackling late payment, what the evidential basis is for the statement there was no real consensus, either with regard to the extent of the issue itself or what the best solution to the problem is.
Answered on
2 July 2019
We received 283 responses and respondents expressed a wide range of views in relation to payment practices and experiences. From the wide-ranging evidence provided it is clear there is no ‘magic bullet’ solution. That is why are taking action with a broad package of policy measures to tackle late payments and continue to change culture.
Government has worked closely with trade bodies and businesses to develop this. Mike Cherry, FSB National Chairman, said of the recent announcement: “Small businesses will be delighted with today’s announcement” and “the measures today could finally see an end to poor payment practice. Changing our business culture will boost the small business community, productivity and growth.”