Businesses: Prompt Payment

House of Lords written question – answered on 20th March 2014.

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Photo of Lord Harrison Lord Harrison Chair, EU Sub Committee A - Economic and Financial Affairs

To ask Her Majesty’s Government what measures they are considering to ensure that the Prompt Payment Code is effectively adhered to.

Photo of Viscount Younger of Leckie Viscount Younger of Leckie The Parliamentary Under-Secretary of State for Business, Innovation and Skills

We published a discussion paper on building a more responsible payment culture on 7 December 2013 which asked for views on strengthening the Prompt Payment Code, including whether more businesses could be encouraged to identify breaches of the Code by signatories. We are currently analysing responses to the consultation and will announce our next steps shortly.

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