§ Mr. SheermanTo ask the President of the Board of Trade what steps he is taking to encourage larger companies to pay smaller companies more speedily. [14465]
§ Mr. PageThe Government encourage all businesses to settle their bills on time. The 1994 White Paper, "Competitiveness—Helping Business To Win, Cm 2563, announced a number of practical measures to tackle the late payment of commercial debts. These included additional prompt payment requirements for Government departments and their agencies; further development of proposals for a British Standard for prompt payment and the implementation of proposals to require public390W companies to state their payment policies in their directors' reports. In addition, my Department has published a free guide to credit management and debt recovery for both buyers and suppliers.