§ Mr. Matthew TaylorTo ask the Chancellor of the Exchequer what Government policy is on the timing of payments of their contractors and suppliers; what length of time between delivery or invoice and payment is proposed in Government guidelines; and what action is taken to monitor whether targets are met. [122522]
§ Mr. Andrew SmithThe timing of payments is set out in guidance to Departments and requires payment to be made promptly to contractors and suppliers in accordance with agreed terms of contract. Where no contract exists, payments should be made within 30 days of receipt of a valid invoice.
The payment performance of Government Departments is monitored annually and reported to Parliament by the Department of Trade and Industry before the summer recess.