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Full Debate: Read Full DebateDepartment: Department for Business, Energy and Industrial Strategy
Michael Fabricant
Main Page: Michael Fabricant (Conservative - Lichfield)Department Debates - View all Michael Fabricant's debates with the Department for Business, Energy and Industrial Strategy
(4 years, 9 months ago)
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Michael Fabricant (Lichfield) (Con)
When I was in business years ago, it came to something when Ríkisútvarpið in Iceland and Nederlandse Omroep Stichting in Holland paid quicker than the BBC. What can my hon. Friend do to ensure that large businesses pay smaller businesses quickly and on time?
Paul Scully
I thank my hon. Friend for that question. We will be strengthening the Small Business Commissioner’s powers. We already have a tough approach to large companies that do not comply with the payment practices and reporting duty. We are strengthening and reforming the prompt payment code and moving administration to the Small Business Commissioner. The business basics fund competition encourages SMEs to utilise payment technology and boost productivity, and the winners will be announced in April.