Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, whether he is taking steps to ensure that the audit reform bill will help support small businesses resolve late payment issues.

The Government already has a range of measures in place to help small businesses resolve late payment issues. The Late Payment of Commercial Debts (Interest) Act 1998 gives businesses a right to statutory interest and debt recovery costs if not paid on time. The office of the Small Business Commissioner addresses complaints by small business suppliers about payment related issues with larger businesses. The Commissioner also provides general advice and information to assist small business in their supply relationships with larger business, including advice or information that will help them to resolve and avoid disputes.