Small and Medium-sized Enterprises: Late Payments
Debate between Viscount Younger of Leckie and Lord Broers
Viscount Younger of Leckie
I hope that I can assure my noble friend that, in addition to introducing the new reporting requirement, we are looking at giving suppliers more information on what to expect from their customers and therefore to be in a better position to make an informed judgment on whether to enter a commercial relationship, and how to negotiate fair terms or challenge unfair terms, as well as how to understand what they need to do to ensure that they get paid on time.
Lord Broers (CB)
My Lords, what are the Government doing to help small companies to obtain payments from overseas companies that refuse to pay?
Viscount Younger of Leckie
The noble Lord raises an important point. This is very much a question for the companies and the contracts that they enter into. The Government can certainly produce a framework and, indeed, from the UK angle, the small business Bill will take matters forward to give greater clarity and transparency.
Economy: Manufacturing
Debate between Viscount Younger of Leckie and Lord Broers
Viscount Younger of Leckie
My Lords, I would not disagree with the noble Baroness but I would echo her thoughts that Jaguar Land Rover has done a magnificent job in leading our exports into new markets abroad. This is on top of the excellent news about Bombardier in the Midlands, a decision which gives a new vote of confidence in British manufacturing and which supports 760 manufacturing jobs and 80 apprenticeships in the UK.
Lord Broers (CB)
My Lords, I am sure the Minister will agree that the Technology Strategy Board’s catapults have been a very positive move forward in driving innovation for manufacturing, especially the high-value manufacturing catapult. These catapults were to a certain extent based on the Fraunhofer-Gesellschaft, but our effort is rather small compared with Germany, which has 60 while we still have fewer than10. Are we going to expand this programme?
Viscount Younger of Leckie
The noble Lord makes a good point. It is true that we are behind France and Germany in this aspect, but we are taking several actions, particularly with our catapult programme and the EPSRC—the Engineering and Physical Science Research Council—which will lead us forward and enable us to compete in markets. It is essential that we do this.