§ 34. Mr. Bill MichieTo ask the President of the Board of Trade how many small businesses subcontracted to carry out work for his Department have currently not received payment for work invoiced more than 30 days ago.
§ Mr. LeighThis information is not available and could be provided only at disporportionate cost.
However, I can assure the hon. Member that I do recognise the importance of prompt payment of bills, especially to small businesses. The Government should set an example in this.
In accordance with Treasury guidelines, my Department requires its suppliers or contractors to settle all invoices with its subcontractors within the agreed credit terms or, where no credit terms have been agreed, within 30 days of receipt of an approved invoice.