Rebecca Long Bailey responds to the Government’s late payments consultation
Rebecca Long Bailey MP, Labour’s Shadow Business Secretary, responding to the Government’s late payments consultation, said:
“Late payments still blight SMEs because the Conservatives refuse to address the imbalance between large companies and small businesses. Today’s astonishingly weak policy announcement won’t change that one bit. This is just tinkering around the edges.
“We know that the Government doesn’t care enough to do anything about this enormous problem for SMEs. After Carillion’s collapse we saw just how reluctant they were to use the powers they already have to prevent late payments.
“Labour will end the scourge of late payments by requiring companies bidding for government contracts to pay suppliers within 30 days and introducing a system of binding arbitration and fines for persistent late-payers.’’