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Small Businesses

My Lords, I hope that I may come back to prompt payment. We have heard warm words. I have no doubt that the Government, and those public bodies which can most easily be influenced by the Government, will do as suggested and pay up by 10 days at the latest. But what about all the other organisations? Some private organisations pride themselves on the dilatoriness with which they pay their debts to suppliers. My noble friend may well recall, as I do, that in 1997-98, right at the beginning of the Labour Government’s term, legislation was introduced into this House to impose statutory interest on late payments. That went through this House but got caught up in some difficulties that I do not fully remember in the other place. I wonder whether that sort of thing, although not necessarily the same type of legislation, might have some useful legs in ensuring prompt payment, which is a matter of such concern to small businesses.