Monday 12 March 2018 / 3:22 PM Business / Rebecca Long Bailey

The Chancellor must stop dithering and finally take action to tackle the late payment crisis – Long Bailey

Rebecca Long Bailey MP, Labour’s Shadow Business Secretary, responding to new research by the Federation of Small Businesses which has revealed that Britain’s late payment crisis is worsening, said:

“This is further proof that continued Government inaction on late payments has hit small businesses the hardest.

“The Chancellor must stop dithering and finally take action in the Spring Statement to tackle the late payment crisis.

“Labour will take tough action on late payment to help sub-contractors. We will use government procurement practices to ensure that anyone bidding for a government contract pays its own suppliers within 30 days. And we will develop a version of the Australian system of binding arbitration and fines for persistent late-payers in both the public and private sector.”