HC Deb 05 June 1997 vol 295 cc234-5W
18. Mr. Streeter

To ask the President of the Board of Trade what steps she plans to take to assist small businesses in the west country. [672]

Mrs. Roche

I refer the hon. Gentleman to the reply I gave earlier to my hon. Friend for Bradford, West (Mr. Singh).

In addition, small businesses are a very important part of the economy of the west country.

25. Mr. Mackinlay

To ask the President of the Board of Trade what plans she has to assist small businesses. [680]

Mrs. Roche

I refer my hon. Friend to the reply I gave earlier to my hon. Friend for Bradford, West (Mr. Singh).

26. Mr. Hanson

To ask the President of the Board of Trade what discussions she proposes to undertake with the Federation of Small Businesses regarding her proposals on statutory interest on late payments. [681]

Mrs. Roche

I intend to have regular contact with all the small firms representative bodies including the Federation of Small Businesses. We will be consulting on the form of legislation for a Statutory Right to Interest in the summer. The Federation of Small Businesses will be invited to submit their views.

32. Mr. Page

To ask the President of the Board of Trade how many organisations representing small firms indicated to her Department whether they are(a) for or (b) against a statutory right of interest in the recent consultation exercise. [689]

Mrs. Roche

Fifty-four representative organisations, who will have small firms in their membership, responded to the 1996 review. Of these representative organisations 22 were in favour of a Statutory Right to Interest and 32 were against.

It is clear that late payment continues to cause concern to small firms. A number of business surveys consistently show that a majority of small firms support legislation for a Statutory Right to Interest. A recent NOP survey in fact found that 80 per cent. of UK firms supported such legislation. It is in direct response to the committing concerns of small businesses that the Government will introduce the Fair Payment of Commercial Debts Bill.