Small Businesses: Late Payments

Baroness Lane-Fox of Soho Excerpts

Wednesday 28th October 2015 Lords Chamber

[Baroness Neville-Rolfe]

I agree with the noble Baroness that late payment has to be got rid of in the public sector and in the private sector. We have taken a great many steps in the public sector, including in the health service. We are now seeking to do more in the private sector. We are discussing that in the Enterprise Bill, which makes really important changes.

[Baroness Lane-Fox of Soho (CB)]

My Lords, I declare my interest as chair of Go ON UK. We know that online banking not only prevents fraud but enables faster payments to small businesses, yet 25% of small businesses in this country have no basic digital skills and a further 5% have no access to broadband. Will the Minister say what the Government can do to help these business which would benefit greatly from online banking and financial services?

[Baroness Neville-Rolfe]

I commend the work that the noble Baroness has done as digital champion and agree with her about the importance of digital to small businesses. As she will know from our productivity plan, we are producing a digital transformation plan because we need digital skills across the economy, government and small businesses if they are to take advantage of the opportunities the digital revolution brings.