HC Deb 12 February 1996 vol 271 c403W
Mr. Chris Davies

To ask the President of the Board of Trade what is his policy regarding the late payment of commercial debt. [14653]

Mr. Page

The Government recognise the problems that late payment can cause for smaller firms and are committed to tackling the issue. In the 1994 White Paper, "Competitiveness-Helping Business to Win", the Government announced a number of practical measures to tackle late payment, including support for the development, by business of a British standard on prompt payment, improvements to court procedures for debt recovery and a requirement for public companies to disclose their payment policies. In addition, we are helping small businesses to improve their cash-flow management.

I also announced to the House on 11 January 1996, Official Report, columns 293, that I have agreed to look again at the arguments for statutory interest and will report the outcome in the summer.