Commercial Debt: Late Payments
Debate between Earl of Courtown and Baroness Jenkin of Kennington
The Earl of Courtown
My Lords, as the noble Lord is aware, because he took a leading role on the Enterprise Bill in your Lordships’ House, the Groceries Code Adjudicator does have weapons and is able to fine companies up to 1% of turnover, which is a considerable amount of money. The Government welcome the findings of the first investigation by the GCA. The report highlights that we still have some way to go to create a responsible payment culture in the UK. The Government remain committed to tackling the poor payment practices that hinder our small businesses.
Baroness Jenkin of Kennington (Con)
My Lords, I understand that the terms of reference are shortly to be finalised, but will my noble friend confirm that, in the forthcoming statutory review, there will be full consultation with the grocery supply chain, including farmers, NGOs and Civil Service organisations?
The Earl of Courtown
My Lords, my noble friend refers to the performance review in the Groceries Code Adjudicator Act. My noble friend will be glad to hear that consultation will be as wide as possible.