Small Businesses: Late Payments — Question

Part of the debate – in the House of Lords at 2:37 pm on 11 June 2013.

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Photo of Lord Popat Lord Popat Lord in Waiting (HM Household) (Whip) 2:37, 11 June 2013

My Lords, 75% of the FTSE 100 companies have signed up to the prompt payment code; something like 1,500 companies are now signing up to it. With regard to the public organisations, including police authorities, we are taking every action possible. My colleague, the Minister Michael Fallon, has written to them, giving them 90 days to ensure that they sign up to the prompt payment code. With regard to funding, the Government have a number of schemes to help SMEs finance their existing cash flow, including funding for lending.