Late Payment (Hansard, 1 February 1994)

HC Deb 01 February 1994 vol 236 c620W 620W

§ Mr. Fatchett
To ask the President of the Board of Trade if he will make a statement on his Department's consultation on late payment.

§ Mr. McLoughlin
[holding answer 31 January 1994]: On 30 November 1993, the Department of Trade and Industry issued a consultation paper "Late Payment of Commercial Debt". The consultation paper seeks views from interested parties on possible options to address late payment, including a statutory right to interest and a British standard for prompt payment. Responses have been requested by 31 March 1994.