Commercial Debt: Late Payment Penalty Scheme

HL Deb 25 June 1997 vol 580 cc168-9WA

Baroness Byford

asked Her Majesty's Government:

In relation to their proposed scheme to tackle late payments to small companies, after what period of time a penalty will become payable on a late payment.

Lord Simon of Highbury

The Government are proposing legislation for a statutory right to claim interest on the late payment of commercial debt. Views on the precise content of the Bill will shortly be sought in a Green Paper. This should be issued before Parliament rises.